Everybody wants to ensure that their families and loved ones are protected and have a secure future when they are no longer with them. In this case, a will is the simplest way to direct what happens to your financial assets and property after death. Unfortunately, a surprising number of people in the United States do not opt to draft a will. A will helps protect the future of families and loved ones.
If a resident of Florida dies without a will, the state law of Florida decides about the property distribution of the deceased person. Often the outcome of the distribution comes as a surprise for the family. Also, the result may not be what the deceased person might have wanted.
To avoid these circumstances, it is always advised to take advantage of the legal options with the help of an estate planning attorney in Florida. An estate planning attorney assists you in assessing the best way to distribute the property, completing the paperwork, and drafting the will.
This blog, for most of it, revolves around how a will works in Florida, why you should draft one, and how an estate planning attorney can help you in doing that.
A will is a legal document in which the creator decides about the disposition of his/her assets and property. The creator of the will is known as the testator. Simply, it is the distribution of property among the loved ones. However, they can only have the right to own that property after the death of the testator. The main purpose of drafting the will is:
The testator can distribute the following property in Florida:
The testator has the option to liquidate the property and distribute it to the beneficiaries or through direct bequests of specific property to organizations or specific people.
The probate process in Florida can be complicated without any experience of extensive estate management. That is why people often hire an estate planning attorney before drafting their will. An estate planning attorney personally represents the testator throughout the Florida probate process. Here is an outline of how an estate planning attorney in Florida carries out the probate process:
A will has no legal effect when the testator is alive. However, it can be modified or revoked at any time as long as proper procedures are followed. In Florida, you can revoke your will by:
A will can be challenged by a beneficiary or natural heir of the testator. The beneficiary or heir may contest the will on the following grounds:
People often think that only the wealthy or those who have complicated assets need to create a will. However, there are many other good reasons to draft a will:
The last will or testament should always be prepared under the supervision of an expert estate planning attorney. An experienced attorney can advise you on whether your will is prepared according to the state laws, and:
Drafting a will on your own can be time-consuming, expensive and not cost-effective. To make sure that your will is well-prepared in Florida according to the state laws, you should consider drafting it with the help of an experienced estate planning attorney.