Spring is just around the corner and here at PLO (Pittman Law Office) we are ready for longer days and warmer weather. As some of our clients are doing their spring cleaning and spring organizing, we encourage you to think about your estate plan. Of course having properly executed estate planning documents is the first step, but the second step is to ensure that your beneficiary designations are in-line with your estate plan, and the third step is ensuring that you have all necessary documentation to make it as easy as possible for your administrators after you pass. We recommend that you confirm with your financial institution how your accounts are titled/owned, who your named beneficiaries are and that each account that you have has a named beneficiary or titled in your Revocable Trust, if applicable. If you are interested in learning more about beneficiary designations check out this video.
We encourage you to leave instructions/directions for your administrators. This is something that is often forgotten, yet it is so important to help your administrators. After you pass, how are your administrators supposed to know who to call to close out your accounts if you don’t leave them instructions? Below are a few of the things that your administrators will likely need to know:
- how many credit cards do you have;
- do you have any outstanding debts;
- who is your mortgage through;
- is your vehicle paid off; and
- have you prepaid for cremation or burial?
If you are interested in learning more about what your administrators will need to know, check out this video.
We have a lot of information on our website and YouTube Channel.
Probate Corner…
Do you need an attorney to open a probate case in Florida? Here is a video from Attorney Amy Pittman addressing this question.
My Neighbor Said…
My neighbor said all I need to do is add my executor/Personal Representative as beneficiary on my bank accounts and they can handle the rest according to my Last Will and Testament or Revocable Trust.
This is incorrect. When you add someone as a beneficiary on an account, the person that is named has no obligation to share or distribute the money to the people who you have named in your Last Will and Testament or Revocable Trust. The person who you have named as beneficiary, shows a death certificate and the money is theirs to do what they want with. This is why it is so important to follow your attorney’s guidance and to ensure that the financial institutions have all of your named beneficiaries.
If you are a Client of PLO, please contact us if you are receiving advice or suggestions concerning your Estate Plan before acting on the advice. Both Amy and Audra are responsive to emails from clients. amy@thepittmanlawoffice.com and audra@thepittmanlawoffice.com
Upcoming Workshops
Funding Revocable Trust Workshop
This workshop is for current clients of Pittman Law Office that have Revocable Trusts.
Date & Time: Wednesday, March 20, 2024 at 8:30 am; and
Date & Time: Wednesday, April 17, 2024 at 8:30 am
Location: Pittman Law Office
RSVP to 352-399-6944 – limited to 12 people
Basic Estate Planning Workshop
This workshop is for potential clients of Pittman Law Office that want to learn more about Estate Planning and our firm.
Date & Time: Wednesday, March 27, 2024 at 8:30 am; and
Date & Time: Wednesday, April 24, 2024 at 8:30 am
Location: Pittman Law Office
RSVP: 352-399-6944 – Seating is limited to 12 people
Attorney Amy Pittman and her husband, Josh, enjoyed snowshoeing in Utah without their kiddos. Attorney Audra Platt and her family went skiing in New Mexico. |
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Material presented in this newsletter is intended for information purposes only. It is not intended as legal or professional advice and should not be construed as such.
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