Florida faces an interesting crossroads as two separate bills that may deeply impact estate planning protocols go before legislators. Under the new bills, Florida would recognize electronic wills in estate planning.
A will, like several other kinds of legal documents, is not only a piece of paper, signed and prepared in a certain way. It also directly appoints or implies an individual who will bear the responsibility of carrying out the wishes expressed in the will document, as well as several other duties. This person is known as the executor of the will. If you have been appointed as an executor, or if you are considering who to appoint as your own executor, it is vital to understand an executor's responsibilities.
Most people know as part of public knowledge that "everyone needs a will," but why exactly do you need a will? After all, if you don't have much in the way of personal belongings, won't the state just handle it all? While it is technically true that each state maintains its own statutes that dictate how to handle intestate property, a will is more than just about property.
There are many different kinds of wills and estate plans which will be honored by the courts, and each state has its own laws determining what it may or may not accept as valid. When it comes to the matter of holographic wills, the law is Florida is slightly more complex than it seems at first.
When somebody in Florida dies, it is not uncommon for relatives or others to be surprised about the person’s wishes as laid out in a will. People may have been verbally told that the wishes were different than they appear in the final will. Family members may even have reason to believe that the decedent was exploited in some way or coerced into making some of the decisions noted in a will. These are just some of the reasons that may lead people to contest a will.
As a Florida resident, you are likely aware that there are many options available to you for your estate planning. First, there are different types of documents such as wills and trusts from which to choose. Once you have decided which one of these you may want to pursue, you must then decide which type of will or trust is best for your circumstances. In the world of wills, for example, you can create a living will, a joint will, a holographic will and even an oral will.
Many Florida residents take great care to engage in estate planning in an effort to provide for their family members. When developing a will, they can choose from a joint will, a living will, an oral will and more. Additionally, as noted by the AmericanBar.org website, as life changes, the need to change a will may logically arise as well.
When considering means of estate planning, Floridians have many choices available to them. Wills are likely the most commonly known form of documentation utilized for protecting assets after death but many facts about them remain unknown by people. There are also different types of wills for different needs and understanding these is important for anyone looking to create a will.
If you’ve been named as the executor of family member or friend’s will in Fort Myers, you may be hoping the whole matter remains as simple as reading the will and handing out the assets. Yet what if debt issues arise, such as a foreclosure on the deceased’s home? What are you, as executor, to do?
When it comes to estate planning, many Florida residents fail to properly account for the distribution of their assets. There are many cases where people do not have the opportunity to construct a will before passing. In other instances, the validity of a will is challenged because it was not created within the bounds of Florida State laws. That is why it is important for those considering their estate planning options, as well as potential beneficiaries, to understand how holographic wills are regarded under Florida guidelines.