If you have more questions about a will or your estate plan, contact a Florida probate lawyer from our team. Wills must be signed with certain formalities. This can also include naming a primary beneficiary and contingent beneficiaries. The residuary clause explains what happens to the deceased's assets that are left over after the specific devises have been distributed. A will has "specific devises" (i.e., "Jenny gets half of what is in my bank account"), and if there is anything left over, a "residue" (i.e., "and the rest to my children"). The named personal representative has specifically enumerated and statutorily granted powers. Other states refer to the personal representative's role as the "executor") is named to handle the administrative aspects of a will and estate plan. A personal representative ("personal representative" is the term used in Florida. Probate means to "prove." The court makes the testator prove what they want to do with their stuff upon passing. Only upon the passing away of the one making the Will, does the actual document have any legal effect or impact-and it must be probated through a court proceeding-which can be a long and expensive process. Once appropriately signed, a will only has any use or meaning upon one's death. What is a Last Will and Testament?Ĭommonly referred to as a "will" (not to be confused with a living will), a Last Will and Testament is a post-mortem planning document in an estate plan that explains one's final wishes as to who gets the testator's (the person who makes the will) assets after they die. If you have more questions or need legal advice about estate planning needs or elder law matters, contact a Florida estate planning attorney from our team today.Ĭall now to schedule your consultation. Continue reading to learn more about estate planning and what you can do today to protect your future. That's why we created a guide to explain estate planning basics. ![]() The team at Elder Needs Law understands why people often turn away from estate planning. When done properly, estate planning will bring you peace of mind. While these statements can be true, a comprehensive estate plan is essential for protecting your assets and getting your financial affairs in order. Conversations about death and end-of-life care can be uncomfortable, and estate planning is time-consuming and complex. ![]() Many people avoid estate planning because of how overwhelming it is.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |