Last WillĪ last will is what is usually referred to as simply a ‘Will’. In this document, you will provide instructions for medical care, if you are unable to make these decisions yourself – such as if you’re on life support or in a coma. Nobody has the same estate plan and these documents vary depending on your estate planning goals.Įvery Florida estate planning checklist should see you consider: Living WillĪ living will is very different from a last will.Ī living will documents your wishes for end-of-life care. Now you should work with an estate planning attorney to ensure you complete all the necessary paperwork. Complete the Necessary Estate Planning DocumentsĪn estate plan is nothing but a dream until it’s documented correctly. That’s especially true for Trustees, guardians and personal representatives – are they comfortable with the responsibility? 6.

You should consider talking to each of these selected individuals to see how they feel about their inclusion. While Trustees and Personal Representatives must be responsible, trusted individuals who will make wise, smooth, legal decisions – hot-headed people are often unsuitable for these roles. For example, beneficiaries will receive a share or selection of your assets. Think carefully, as these people will be directly impacted by their inclusions. You now need to decide who will be selected as: It is also a good opportunity to identify the non-probate assets from those that would pass through probate. This includes property deeds, vehicles, bank accounts, investment holdings, credit cards, insurance policies, pets, student loans and more. Take Inventoryīefore you start deciding who should get what, you need to make a detailed list of every single asset and liability in your name. Once you recognize these goals, your Florida estate planning attorney can begin making a plan that makes these goals a reality, legally and in your best interests. This may include ensuring your children are cared for, your pets are protected, money is given to charity or if you’d like assets distributed slowly over time. Take the time to think and write your priorities out. Identify Your GoalsĪsk yourself what you want to achieve with your estate plan. The earlier in the process you get legal assistance from a Florida estate planning attorney, the better. They’ll be able to suggest estate planning ideas that you are unlikely to ever think of. This is your chance to minimize estate taxes, protect your family’s wealth and reduce the strain on your family after your death.įlorida estate planning attorneys know every facet of estate planning law and can use it to your advantage. Speak to a Florida Estate Planning AttorneyĮstate planning is far more complicated than just filling out a will form and storing it in the attic. Even if you’re a young adult, creating an estate plan is wise. But it’s especially important if you have children and assets. If you’re an adult who isn’t mentally incapacitated, the answer should be yes. Do You Need an Estate Plan?įirst up in the Florida estate planning checklist is confirming whether you need an estate plan. This Florida estate planning checklist is a great starting point before working with an experienced Florida estate planning attorney. Doing so can protect your family’s wealth, vision and future for generations to come. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.It’s never too early to start estate planning. Be sure to consult with your own tax and legal advisors before taking any action that may have tax or legal consequences. Wells Fargo Advisors and its affiliates do not provide tax or legal advice. While we can't create your actual estate plan, we can help by working with you and your team of advisors to get the information you need to develop a comprehensive plan. Getting You the Financial Information You Need to Plan Your Estate

Ten things you should know about beneficiary designations.

Information about the five most important estate planning documents.When you complete the form, the three guides you receive will include: Complete the form to receive an estate planning checklist as well as two other guides. When it comes to planning your estate, having a checklist and important documents in hand is a key part of the process.

Get an Estate Planning Checklist and More Every year can bring something new to protect and care for, so having a plan can create ways to take the success you’ve already had and extend it to your family, benefiting them not just years from now - but right now. But it doesn’t have to be complex, and it doesn’t have to wait. It’s easy to defer estate planning because it can either feel intimidating or simply not that urgent.

Complete estate planning checklist