Tag Archive for: estateplanning

Will Facts

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A will has no legal authority until after death. So, a will does not help manage a person’s affairs when they are incapacitated, whether by illness or injury. A will does not help an estate avoid probate. A will is the legal document submitted to the probate court, so it is basically an “admission ticket” to probate. A will is a good place to nominate the guardians  of your minor children if they are orphaned. All parents of minor children should document their choice of guardians. If you leave this to chance, you could be setting up a family battle royal, and your children could end up with the wrong guardians.

Don’t Let The State Of Florida Decide

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There are various strategies and tools available in estate planning, such as wills, revocable living trusts, irrevocable trusts, durable powers of attorney, living wills, and advance health care directives, among others. Unfortunately, many people overlook this critical step in securing their family’s financial future. By preparing a well-considered estate plan, you position yourself ahead of those who fail to plan at all. It often comes as a surprise to learn that without an estate plan, Florida law will determine how your assets are distributed after your death—and the State’s plan is often not what you would have chosen. A properly drafted estate plan ensures that your wishes take precedence over the State’s default plan.

Types of Wills in Florida

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There are several types of wills in Florida that you may want to consider as part of your estate planning process. Here are some of the most common types of wills in Florida:

  1. Formal Will: This is the most common type of will in Florida, and it is typically prepared by an attorney. A formal will must be signed by the testator (the person making the will) and two witnesses in the presence of each other. The witnesses must also sign the will in the presence of the testator. A formal will can be used to distribute your assets, name a personal representative (executor), and nominate guardians for minor children.
  2. Holographic Will: A holographic will is a handwritten will that is signed and dated by the testator but is not witnessed. In Florida, holographic wills are generally not recognized as valid, with a few exceptions such as if the will was created outside of Florida but is valid in the state where it was created.
  3. Nuncupative Will: A nuncupative will, also known as an oral or deathbed will, is a spoken declaration of the testator’s wishes that is made in the presence of witnesses. In Florida, nuncupative wills are generally not recognized as valid, except in certain limited circumstances such as for members of the armed forces who are on active duty.
  4. Self-Proving Will: A self-proving will is a type of formal will that includes a notarized affidavit signed by the testator and witnesses. This affidavit serves as evidence that the will was executed properly, which can make the probate process smoother and faster.
  5. Living Will: A living will is a legal document that outlines your wishes regarding medical treatment if you become unable to make decisions for yourself. A living will can specify the types of medical treatments you do or do not want, such as life-sustaining treatments.

It’s important to work with an experienced estate planning attorney to determine which type of will is right for you and your specific circumstances. An attorney can help ensure that your will is properly executed and meets all legal requirements in Florida.

 

About Your Will

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You should keep your Will in a safe place.  Make sure you tell someone that you have a Will and where to find it.

You should keep this information sheet with the Will.  Attach a list of your main assets, and indicate where your other important personal documents are kept.  This list should also include information about your life insurance policies, jointly owned property, and any personal retirement plans you have set up (such as IRA or KEOUGH plans).

Do not write on your Will or attempt to change your Will yourself.  Consult with your attorney.

Your Personal Representative should contact legal counsel before proceeding with the administration of your estate.

As you know, we have taken steps in the preparation of this Will to simplify the administration of your estate.  Of course, we would welcome the opportunity to discuss your Will and your estate with you and the person you have named as Personal Representative.

We are pleased to have been able to serve you in this matter.  If you have any other legal questions or needs, feel free to contact this office at any time.