Planning one’s estate in Miami-Dade can be a complicated and confusing process. First, a person or couple must decide on who their heirs will be. Then decisions need to be made regarding what each beneficiary will receive and whether to decree money to any charities. After these decisions, a will is generally drawn up but even then, it is uncertain whether the directives will actually be carried out after the person has died.
Most readers in Miami-Dade are aware that creating a will or estate plan can help ensure that their final wishes are carried out. Often, married couples will choose to create a joint will and estate plan. In the event that one of them dies before the other, however, this can lead to probate problems down the road if the surviving spouse changes the terms of their will to disinherit heirs or to include new beneficiaries.
Readers in Miami are likely aware of the importance of writing a will and limiting the changes that are made to it. There are times when people may want, or need, to update their wills at a later date, but if there is any question as to whether they are of sound mind when they do so, it could result in those changes being thrown out in favor of a previous version.
For people in Miami-Dade, and elsewhere, there are a number of estate planning options that can be used both to convey your final wishes and to establish how you want any assets you may have distributed after your death, and by whom. Particularly for sizeable sums, many people choose to establish trusts as a means of gifting an inheritance. While many trusts have trustees who oversee them and ensure that the terms are fulfilled, there are some situations in which a trustee may stand in the way of an heir receiving their trust or trust payments as intended.