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.
If you feel that someone's Florida will disinherited you or insufficiently provided for you, you may be wondering if you should challenge it. The first thing you need to know is that not everyone can challenge a will. You can only do so if you are an "interested party;" i.e., a close family member who has the legal right to inherit from the decedent had (s)he died without making a will.
If you are a Florida resident who has very strong preferences about what kind of end-of-life medical care you want to receive and/or what types of medical treatments you want and do not want should you become incapacitated by illness or injury, you may wish to consider having a living will. As FindLaw explains, a living will, often called an advance directive, is not really a will as people normally use that word.
If you are a Florida resident who has not yet gotten around to making a Last Will and Testament, you may wish to reconsider your recalcitrance. While no one likes to think about their own death, having a will is one of the best ways for you to make sure that when you die, your property will go to those and only those to whom you wish to distribute it. If you die before you make a will, you will be considered to have died intestate and the state of Florida will decide who your heirs are and which of them gets which portion of your assets and property.
Estate planning can be a tricky process, and in many cases, not everyone is going to be pleased with how you decided to distribute your Florida estate. At the Law Offices of Frye & Vasquez, P.L., we understand the many ways in which estate planning and distributing your assets can lead to conflict among your loved ones, and we have helped many people involved in the estate planning process take strides to minimize associated stresses.
Imagine driving home on a rainy night in Miami, and seeing a poor-looking man standing on the side of the road. You stop to assist him by taking him to nearby eatery to warm up and get some food. Before leaving, he claims to be a millionaire, and to repay your kindness, he uses a napkin to write out a will leaving his entire fortune to you. A few days later, news breaks of the death of a local business magnate who had become a recluse. You recognize the person as the man you helped.
For those beginning the estate planning process in Miami, the ultimate goal is to create an inheritance plan that reflects their true wishes, while also being able to avoid disputes between their beneficiaries. The said reality is, however, that it is often impossible to please everyone, especially when it comes to estate matters. Thus, will contests can be a common occurrence.
Estate planning experts in Miami encourage you to begin considering the matters of your estate early on in life. The first step in that process may be to create a will. Many of those that we here at The Law Offices of Frye and Vazquez, P.L. have worked with over the years, however, have had to find out the hard way that estate planning is a process, not a singular event. As changes occur in your life that affect your income, savings and property holdings, as well as your marriage and family, you will want to revisit your will to see if changes need to be made to reflect your current situation. Yet what if you fail to do so?
You may hear news of disputes over wills in Miami and automatically write them off to simply being the desperate actions of jealous people who are upset about being disinherited. Yet it has been our experience here at The Law Offices of Frye & Vazquez, P.L. that the motives of those who have come to us with questions regarding the validity of a will are typically not financial. Rather, their concerns were primarily over the potential of their loved ones being taken advantage of.