If you are someone aged 55 to 64 in Florida who has made out a will, you have taken an important step to protect your family from financial hardship in the event of your death. According to Forbes magazine, you are also in the minority; 51% of your peers across the United States do not have a will.
You may have already created a detailed estate plan that indicates what you want to happen to your assets and your property after your death, but have you thought about what will happen to your body? A whole-body donation in Florida is a generous final gift that you can give to help promote the advancement of science, the instruction of medical students and the study of disease.
As someone considering how to pass on your assets, it is important to know that certain types of wills are not considered valid in the state of Florida. Today, we will take a look at the steps that you must take in order to ensure that your will is considered valid in the eyes of the law.
Florida state residents have several options when they are looking into creating a will. However, it should be done with care, because even one mistake could potentially invalidate it. In fact, some types of wills are completely invalid even if done correctly, such as a holographic will.
In a recent article about Florida timeshares and estate planning, we looked at one of the most commonly contentious assets in the probate courts. We believe that a practical and well-maintained estate plan has the power to turn these types of potential problems into assets that distribute seamlessly to your beneficiaries.
Estate planning is about more than deciding what will happen after you die. You also need to decide what happens if you become incapacitated or disabled. At the Law Offices of Frye and Vazquez, we know that no one in Florida wants to think about the possibility of disability or incapacity. Nevertheless, thinking about and planning for it is an aspect of estate planning at least as important as making out a will. It may even be more important because it could affect you directly in the future, while your will only affects those you leave behind.
An important part of planning your estate is creating a last will and testament. This critical document is comprised of how you would like your estate handled and what you would like to happen to your assets and property after you pass. It can be difficult and overwhelming to think of such things as you are drafting your will. However, you can prepare yourself by researching what types of questions you will need to answer, as well as what will be included in the will.
Estate planning in Florida can be a challenge because you do not have exact knowledge of the future. The best you can do when writing a will is to make educated guesses about when you will pass on and what property and assets you will have to bequeath when you do. Circumstances can and do change, which is why it is both easy and common to revise the contents of a will.
Estate plans are important for a number of reasons, such as protecting the way in which one's assets are split up among those they love and finding some peace of mind in knowing that these matters will be handled properly in the future. Everyone is in a different position when it comes to estate planning, whether someone has a vast amount of wealth or a relatively modest income, has a large family or is unmarried with no children, etc. Moreover, those who run a small business have additional issues to take into consideration.
The internet age makes it possible to do a lot of things yourself, from trying your hand at gourmet recipes to learning how to change a tire by watching an online video. However, as we at the Law Offices of Frye & Vazquez, P.L., understand, there are some things you and other Florida residents shouldn’t attempt yourself. This includes estate planning and other legal matters, which require years of skill and knowledge.