Typical Estate Plans for Pinellas County Florida Residents
The typical estate plan prepared by St. Petersburg probate and trust attorney James W. Martin for a Pinellas County Florida resident depends on whether the client is single or married, has children or not, and is retired or not.
Estate plan objectives for married couples often differ from those of single persons. Married persons usually name each other as beneficiary, personal representative, and successor trustee in their wills and trusts. They usually name each other as agent in their durable power of attorney and as health care surrogate and preneed guardian. Single persons usually name their parents, siblings, or friends instead.
Objectives for residents with children vary from those without children. Raising children is a serious commitment, so estate plans for persons who have children include provisions for their care and financial needs. The Pinellas County resident with children often has a will with a testamentary trust to provide for the children until they are self-supporting. A living trust can perform the same function.
Retired Pinellas residents have estate plan goals that typically focus on retirement matters. Beneficiary designations for life insurance, IRAs, 403(b)s, and other retirement vehicles must be updated. Living trusts are often created in addition to wills and other estate planning documents to plan for lifetime needs and post-death issues.
In any case, it is the needs and desires of the clients that drive their estate plans and the drafting of their estate plan documents.
This section of the website introduces typical estate plans prepared by probate attorney Jim Martin for Pinellas County Florida residents based on these factors.
Jim Martin has advised Pinellas County Florida residents and their heirs on hundreds of wills, trusts, estate plans, and probate estates.
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