When you sit down to create your will and estate plan, it's important to choose someone you trust as your executor. The most logical choice is your attorney. Why? When an attorney serves as your executor, you are putting yourself and your family in a safe situation when the inevitable happens. Here are some benefits of naming an attorney as your executor.
Have you created a will yet? If not, what are you waiting for? This is one of the most important documents you can have to your name in your life. Why? A will protects you, your spouse, your children, your grandchildren, your assets and anything else you'd like to include. Today, we will look at some common myths about creating a will.
If you are sitting down to create a will, or to update your current one, it's important to think about adding a revocable trust to your estate plan. A revocable trust is a legal document that you have total control over while alive and can revoke it at any time before you pass away. Today, we will explore the reasons why you should create a revocable trust.
If you are ready to draft a will, it's important that it meets the requirements under Florida law so it has a better chance of holding up in court if it's challenged. Many people make the mistake of thinking a will created in another state will automatically be valid when they move to Florida.
If someone named you as the executor or administrator of their estate, it is very likely that they held you in high esteem. They likely trust your ability to remain organized while handling all the details of the estate and believed that you were ethical enough to fulfill your obligations to all of the beneficiaries and heirs.
Your parents have passed away, and you are reviewing their will with your siblings to see how they designated that their assets should be divided among you. You note that one significant asset that your parents had was a life insurance policy. However, it's a source of confusion for you.
Drafting a will is a very private event for most people. Some are even unwilling to talk about it with family members in advance.
If you have never been part of a will reading, it's a good idea to know ahead of time what to expect. This includes the steps that are involved to execute a will. If a family member dies, you simply cannot go to their home and claim what you know has been left behind to you in the will. There are things that must be handled first before items can be bequeathed to the beneficiaries of the will.
Having a will is a great way to ensure that your loved ones are taken care of when you die. However, simply having a will and not updating it is not good. You cannot create a will in your 20s or 30s and then let it sit well into your 60s without updating it at least once or twice. Let's look at the important milestones in your life that signal it is time to update your will.
The administration of an estate, which includes the execution of the will, occurs upon the death of the person named in the documents. It can be a very lengthy and stressful process for the surviving family members, especially if the decedent did not outline everything about their assets. Today, let's take a look at what happens with a will after death in Florida.