Wills, Probate

Trusts, Estate Planning

210 South Beach Street, Suite 202
Daytona Beach, FL 32114
(386) 257-3332

Personal Representative

Heidi is extremely knowledgeable of Florida law, and offered sound and well received advice. She answered every question with patience and professionalism. Her entire staff was friendly, courteous and responsive. Money and time well spent!

~ Jamie W

I was so lucky to have found Ms. Webb. As my parents were aging, new legal and financial questions arose with which none of us had any experience. Ms. Webb spent nearly two hours with us answering questions and sharing her professional knowledge and advice. She created an archive of our important documents and followed up via email throughout the following week until she could be sure that we felt confident and satisfied in the decisions we needed to make. She genuinely cares about her community and applies her expertise to help others before herself. Trustworthy, dependable, and efficient, Heidi Webb is a true gem!

~ Maggie C.

Why Naming Beneficiaries Is Important Regarding Contractual Assets

There are many pitfalls to be avoided when putting together your Estate Plan, especially if you try to do it yourself. For this post, I am going assume an Estate Planning Attorney is drafting your documents, which as you know is what I highly suggest everyone does. That said, naming beneficiaries is all on you and is a critical job when it comes to Estate Planning.

Before you can name who you want the asset to go to after your passing, you have to know what assets you have. If you own contractual assets (Annuities, Life Insurance, Retirement Accounts, to name a few) that include beneficiary designations, it’s important to name your beneficiaries; otherwise, your assets will transfer according to the contract’s default beneficiary provision –which is most likely your Estate. If your assets pass to your Estate, that could result in a timely probate process, additional estate expenses, and exposure to creditor claims to name just a few potential issues.

I discuss at length my client’s financial holdings at our initial meeting, and as their “homework” I have them gather copies of contracts, most recent statements, and current beneficiary designations. This exercise allows me to compile an Asset Inventory and advise my clients appropriately as to how they can “Probate Proof” themselves in conjunction with the documents I prepare for them. A full understanding of how your assets will transfer after your death helps create an Estate Plan that fulfills your wishes and prevents delays for your heirs. Designating beneficiaries incorrectly can have far-reaching negative consequences and is an essential part of your overall Estate Plan. If you are unsure about your Estate Plan or do not have an Estate Plan at all, make an appointment with an Estate Planning Attorney where you live. If you are located in the Daytona Beach area, call my office for a free consultation.

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