St. Petersburg estate lawyer, Matt Weidner, covers estate planning questions that you need to consider when it comes to planning your estate with your lawyer. Before you meet with your St. Petersburg estate lawyer to plan your estate, read through these questions and put some thought into the answers to be sure that you cover all your bases.
St Petersburg Estate Lawyer Covers Estate Planning Points to Consider
1. Consider Who Will Raise Your Children
This is a “biggie” and most parents consider this fact when planning their estate. In most cases, parents will establish that the other parent will raise the children if something happens to one of them. But what should happen to the children if something happens to both parents? What should happen to the children if both parents and grandparents die? Make sure that you make very specific plans for who should care for your children and consider every eventuality.
2. Cover Every Eventuality
When planning your estate it’s easy to plan when you think along the lines of “when A happens, B should happen”. For example, when I die, my home will go to my children. But very few people actually think about the very worst possibility. What will happen to your estate if a natural disaster wipes out your immediate family? It’s not a nice prospect to consider, but it’s one that you should give some thought to. Everyone should have a plan in place in case the very worst scenario should take place, talk to your attorney about your options.
3. Don’t Forget to Mention Every Relative to Your Lawyer
If someone is related to you, there’s a chance that they may come crawling out of the woodwork after your death to claim part of your estate. Don’t let obscure relatives take your attorney by surprise, make sure that you mention everyone when talking to your attorney about planning your estate. You don’t have to include them in your last will and testament, but you should let your lawyer know that they exist just in case they show up later.
4. Don’t Forget to Mention All Important People Either!
Is there someone important in your life who may step up and speak out if they feel slighted by your estate plan? For example, a married man who also has a male lover may not want to tell their attorney about their personal life, but this is something that can cause complications with your estate after you die if you don’t plan accordingly.
5. Do You Have Frozen DNA, Sperm, or Eggs?
If you have any genetic material in storage you have to make sure to designate what should happen to that material after your death. For example, if you have sperm in storage and die young, do you want that sperm to be accessible by your wife? Or do you want it to be destroyed upon your death? Do you have a time window for how long your wife is free to use it? Be specific with the details because there is an heir that may or may not enter into the picture as the result of your decision.
6. Are There Any Secrets Your Lawyer Needs to Know About?
Everyone has secrets and you may not want to divulge those secrets to your attorney, but it will help them to better plan your estate if you do. For example, are you involved in an extra-marital affair? If so and your girlfriend or boyfriend shows up after your death, things could get messy. So, let your lawyer know ahead of time and they can help you to plan accordingly.
7. What Will Happen to Your Pets?
If you’re a devoted pet owner, then you have likely already considered what will happen to your pets after you die. If you love your pets but they aren’t the center of your world, you may not have thought to include them in your estate planning arrangements. Be sure to outline who will provide their care as well as whether or not you want to set up a trust to help with the expense.
8. Do You Have a Record of All Accounts, Usernames, and Passwords?
Accounts, usernames, passwords, security questions…your attorney, a trusted friend, or a family member needs to have access to this information to ensure that all of your affairs are in order after your death. It is possible to manage your affairs without this information, but it will take much longer and be much more complicated than if you were to provide the information upfront.
9. Do You Have Any Legally Binding Agreements in Place That Your Lawyer Needs to Know About?
When planning your estate with your St Petersburg estate lawyer, be sure to have details of any legally binding agreements that you have entered in to available. For example, do you have a prenuptial agreement? Do you have a contract with business partners? These are all documents that your attorney needs to have details of when helping you to plan your estate.
10. Do You Have a Serious Illness?
If you have a serious illness that may limit your life expectancy, it’s important to inform your attorney. You might not think that it’s any of your attorney’s business, but your life expectancy affects a lot of your estate planning. Certain procedures will take time and if you have limited time, it’s important to let your attorney know.
Looking to Hire a St Petersburg Estate Lawyer?
If you’re looking to hire a St. Petersburg estate lawyer who can help walk you through planning your estate, Weidner Law can help. Pick up the phone and call 727-954-8752 and make an appointment for your consultation today!