Steps in the Estate Planning Process

We are beginning a new series of articles that outline the steps in the estate planning process.  As Florida estate planning attorneys and probate attorneys, we understand the state laws governing probate and estate plans and can properly set up your estate plan based on an individual’s needs.  Let’s take a look at the first two steps in this process:

Develop a Comprehensive List of Your Assets

The first step your estate planning attorney will ask you to do is to compile a list of all of your assets.  This list must be comprehensive and include bank accounts, investments, jewelry and other valuables, vehicles, real estate, life insurance policies and anything else you own. The assets you list as part of your estate will be designated as such.  It is important to ensure the list is comprehensive because assets not included in the discussion with the estate planning attorney may become subject to probate, in which case your heirs may need to engage a probate attorney to help settle the estate upon your passing.

Determine Your Beneficiaries

The next item of business your estate planning attorney will address is beneficiaries.  You will need to name the individuals who will inherit your property upon your passing either in a Last Will and Testament or a Revocable Trust.  You can also designate beneficiaries on certain assets.

Our next article will discuss the next steps your estate planning lawyer will take when developing your estate plan.

Pittman Law Office is a Florida estate planning and probate firm, with two attorneys  serving the Villages area.  Amy Pittman, Esq. and Audra M. Platt, Esq. and a qualified team of professionals work closely with you to develop an estate plan that ensures your wishes are carried out upon your death.  Whether you need to simply update your estate plan, or you need an estate plan developed, our Florida estate planning attorney can help.  Give us a call today!