Wills are useful estate planning tools that enable you to leave assets to loved ones after you're gone. These documents can be challenged in court, which is a common occurrence among many families despite the value of assets or property being dispersed. TheBalance.com explains just who is allowed to challenge a will.
Often, people think of their grandchildren when they set up an estate plan. They may want to pass down sentimental items or assets to ensure that their grandkids receive support or valued possessions in the future. For some grandparents, additional issues may arise which involve their grandchildren. For example, some are full-time caregivers for their grandkids, and they may be unsure of what their estate planning options are to make sure that their grandkids continue to receive the care they need after they pass away.
Residents in Florida who haven't dealt with estate law before are possibly feeling overwhelmed the first time they really start looking into it. The Law Offices of Frye & Vazquez, P.L., are here to help guide you through the basics first. First we'll take a look at wills, and the importance of their validity.
It might be easy to assume that once you have written your will, there is nothing further you need to do about your estate planning. However, it is important for you and other Florida residents to understand that wills should be updated periodically. The will that you wrote 10 years ago is not likely to accurately reflect your wishes or circumstances today.
At the Law Offices of Frye & Vazquez, P.L., we understand that you have a busy schedule, and you want to save time as well as money. Like many other Floridians, you tackle many issues on your own, and you are considering writing your own will. However, it is imperative to understand that many things can go wrong if you handwrite your own will.
You have decided to create your will, which is one of the most important things you will do for your loved ones. However, at the Law Offices of Frye & Vazquez, P.L., we know that the choice of whom to carry out your final wishes is also vital. You and other Florida residents should think carefully about the best person for the job.
When you own property in a different country, you may wonder if your will is valid in both Florida and the other country. It is important to understand how you may need to change your will to make sure it will be valid after your death.
Most Florida residents have never heard of the word "ademption" and have no idea what it means. Ademption, however, is a very important legal word that Floridians should be aware of because it impacts the specific bequests they make in their wills.
Approaching the topic of a will can result in many mixed emotions, especially when the loss of a loved one could be near. However painful discussing plans after death may be, establishing a will can offer support for surviving family members for years to come. The following information delves into the basics when a Floridian's mental capacity is diminished, leaving families with important decisions to make as a result.
If you are a Floridian who set up a living trust, you also may wish to consider executing a pour over will. As FindLaw explains, a pour over will is one stating that any of your assets that you neglected to transfer into your living trust during your lifetime will automatically go there upon your death, and from there to your designated trust beneficiaries.