Estate and beneficiary planning in Tampa
Most of what a household owns passes by beneficiary designation or title, not by will. The advisor's role is to make sure every account and policy names the right people and that the financial side matches the documents your attorney drafts. The attorney gives the legal advice; this page describes the coordination.
Reasons people start this conversation
- A marriage, divorce, birth or death changed who should inherit
- Beneficiary forms were filled out decades ago at a former employer
- You moved to Florida with documents drafted in another state
- A parent is aging and the family wants the accounts organized
- You received an inheritance and are unsure what to do with inherited accounts
- A blended family where a will and a beneficiary form could disagree
What the advisor does
Beneficiary audit
Pulls the current beneficiary on every retirement account, life policy and annuity and compares it with what you intend.
Titling review
Checks how accounts and property are titled, including joint accounts and transfer-on-death registrations.
Attorney coordination
Works with your estate attorney so account registrations match the will or trust, and attends the meeting if you want.
Inherited account guidance
Explains the distribution rules that apply to inherited IRAs and other accounts, which changed substantially in 2020 and have been clarified since.
Family organizer
Builds a document listing accounts, contacts and locations so a spouse or child can find everything.
Periodic re-check
Reviews beneficiaries and titling at each annual meeting and after any life event.
What affects the price
- Whether the review is part of ongoing planning or a one-time project.
- Number of accounts and policies to audit.
- Trust-owned accounts and business interests, which take more coordination.
- The attorney's fees for drafting documents, which are separate from the advisor's.
The advisor explains the fee for your situation in writing before you agree to anything. Tampa Bay Wealth Co. does not set or collect advisory fees.
Estate planning details specific to Florida
Florida's homestead rules restrict how a primary residence can be left when there is a surviving spouse or minor child, which surprises people whose wills were drafted elsewhere. Florida also recognizes lady bird deeds and transfer-on-death registrations for many accounts, and has its own rules on witnesses and notarization for wills. Retirees moving in often have an out-of-state trust that needs updating. The advisor flags each of these for your attorney; the attorney advises on them.
Common questions
Does the advisor write wills or trusts?
No. Only an attorney can draft legal documents. The advisor coordinates with your attorney so the accounts line up with the documents, and can introduce an estate attorney if you need one.
Why do beneficiary forms matter if I have a will?
Retirement accounts, life insurance and annuities pass by the beneficiary form, not the will. An outdated form generally overrides the will.
What are the rules for an inherited IRA?
Most non-spouse beneficiaries now have to empty an inherited IRA within ten years, with some exceptions. The advisor explains which rules apply to your situation and coordinates the tax side with your CPA.
How often should beneficiaries be reviewed?
The advisor checks them at every annual review and after any marriage, divorce, birth or death.
Related services
Areas we serve
Estate and beneficiary planning across Tampa and these nearby communities: