140 South Beach Street, Suite 310
Daytona Beach, FL 32114
(386) 257-3332

1002 East New Haven Avenue
Melbourne, FL 32901
(321) 821-2321

Personal Representative

Sending out a big T/Y to Heidi Webb, for helping me through a rough time in my life related to some Estate related legal stuff that was added to an already overstressed life. I know it’s her job, but she was always there for me with moral support and concern as well as legally. It’s finally winding down and I can soon get on with my life! And that, is …PRICELESS! I highly recommend her to anyone in the area that needs elder law and probate / estate/ wills etc. She’s Daytona’s coolest attorney!

~ Dan H.

My husband and I never made the time to have a Will prepared, but after his mother passed with all her affairs in perfect order, we knew we needed to do the same for our children. We went to see Heidi, who came highly recommended, to create our Wills. Heidi guided us through the process and educated us on the importance of other legal documents. She gave us the information we needed to help us make decisions that were best for our family, and she did it in a very professional and comfortable atmosphere. We were very appreciative of the time she took to address all of our questions and concerns. Having our Wills, Trust, Power of Attorney, Healthcare Proxy and other documents in place has given us great peace of mind. We can confidently recommend Heidi Webb, with all of her expertise, compassion and professionalism for your estate planning needs.

~ Dawn H

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.

Share this…

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on tumblr
Share on digg
Share on email