Figuring out the best time and method to bring up subjects like estate planning and final wishes is very difficult, especially with your loved ones. Once it’s on the table, tackling the task of helping them get all their affairs in order may seem daunting if you don’t know where to start or what questions to ask. At Grimaldi Law, a South Florida law firm specializing in Estate Planning, we are prepared to assist you and your loved ones to ensure that everything is taken care of the way it works best for your family.
The checklist below will help you start the conversation and may even bring up additional questions or concerns that our attorneys at Grimaldi Law will be happy to answer.
1. Who are the key players? This means any professionals dealing with your loved one’s finances, including bankers, financial planners, investment advisors, brokers and lawyers. Important contacts should also include any medical professionals including doctors and hospitals that your loved ones frequent.
2. What do they own? To be able to help your loved ones, you will need to know about their bank accounts, investment accounts, real estate properties and life insurance policies. Make sure to ask how many of each they have and what banks or financial institutions they are clients of. If they manage anything online, make sure you take note of any pin numbers, passwords and usernames and store them in a safe and secure place.
3. Keeping documents safe. Speaking of storing important passwords in a secure place, knowing where your loved ones keep actual physical documents is just as important.
4. How to handle it if they can’t. There may come a time when your loved ones may not be mentally or physically able to handle their financial and medical affairs. Find out if they have a durable power of attorney, living will or estate plan. If they do, make sure you get details on each one and confirm that the correct fiduciaries are named on each document. It is important to have these documents reviewed by an attorney from time to time as well to make sure that they are current, updated and still applicable.
5. Final Wishes. It is a terrible thought that no one wants to deal with but knowing ahead of time what your loved ones want for their final arrangements once they pass, will make the process a little bit easier.
Taking the time to discuss all these topics will help make any uncertainty the future holds a little easier to handle. Grimaldi Law is here to help you with your estate planning, wills and trusts needs.
Grimaldi Law Firm, where your future is our present.
About the Author: Melinda Grimaldi is an attorney in Hollywood, Florida, whose practice is concentrated in the areas of commercial and residential real estate and estate planning law. She can be reached at (954) 491-8707 or melinda@grimaldi-law.com
Special Note
The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an experienced real estate attorney. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.