– A child?
– A friend?
– A rival sibling who wants all of your money?
If you do not have a valid will, then you will not get to make this and many other important decisions.
When a person dies without a will in Florida, it is called “intestate.” This means that the estate of the decedent (the person who passes away) will go through the probate process, but this process will be enacted not by the decedent’s wishes.
In an intestate probate case, the inheritance for the distribution of the decedent’s assets and debts are determined but by a rigid legal formula, which is not at all personalized to yourself or your loved one and the decedent’s specific situation and needs.
If you die without a will, then the Court will choose a Personal Representative for your estate, and it could end up being rival sibling or an estranged family member who really has no idea in regards to your wishes.
There are many other factors to creating a Florida estate plan, such as trusts, tax implications on beneficiaries, and much more. For example, do you need a will in Florida if you own property but are not a U.S. Citizen?
Florida Estate planning includes much more than just drafting a will, but that is a good place to start. In the current financial situation we are in, it is easy for people to overlook the need for Florida estate planning tools until it is too late.
If you are interested in creating a Florida will or Florida estate plan, then contact Boyer Law Firm’s estate planning attorneys today.