Tampa Complex Will Preparation Attorney

You likely know that drafting a will is very important. However, you may not understand the functions of these legal documents, or that they can be quite limited. So, what should you include in your will? And, do your needs require a simple will or a complex will? Determining whether you need a simple will or complex will largely depends on whether you will owe estate taxes, the size of your estate, and how you want to leave property to your loved ones. Below, our Tampa complex will preparation attorney explains further.

Understanding if You Need a Simple Will

If you do not expect many issues to arise after you pass away and you just want to make the distribution of your assets easier on your beneficiaries, a simple will is likely sufficient. In most cases, you will only need a simple will if the following applies:

• You are younger than 50 years old,
• You do not have substantial assets, or your property has a value under a certain amount,
• You do not have any children from a previous relationship, or
• You do not expect contests to arise regarding your will.

A simple will may be enough if all you need to do is designate beneficiaries, outline how you want your property distributed among your loved ones, and appoint a guardian for your minor children. Still, even with a simple will, you want to ensure that you work with an attorney who can execute it properly. This will provide you with the reassurance that contests will not arise and even if they do, your wishes will still be respected.

Understanding if You Need a Complex Will

While a simple will is fairly straightforward to execute, they only provide a basic framework. For individuals with more complicated estate, beneficiaries with special needs, and other unique concerns, a complex will is necessary. In these instances, it is of the utmost importance that you work with a Tampa complex will preparation attorney who can give you more certainty over what will happen when you pass away. You may need a complex will if any of the following applies:

• You have assets of significant value and estate taxes will apply,
• You want to create a special needs trust for your child or parent with a disability,
• You want to create a trust that will hold property for your children until they turn a certain age,
• You expect to amass additional property,
• You want to create a joint will with your spouse,
• You own a business, or
• You were previously married.

In certain cases, drafting a complex will along with a trust can allow you to protect your beneficiaries from the cost and effort of probate after you pass away.

Our Complex Will Preparation Attorney in Tampa Can Draft Your Documents

If you believe you need a complex will, you also need sound legal advice from a Tampa complex will preparation attorney. At BBDG Law, our Tampa complex will preparation attorney can advise on your case and make sure you and your loved ones have the protection you intended for them. Call us today at (813) 221-3759 or contact us online to schedule a consultation and to get more information.