It is easy to put off thinking about how to distribute your various assets and properties after your death or incapacitation. The future often feels distant, and you have more pressing issues to deal with in the present. This is common for many people, but without proper planning, your assets might reach the intended beneficiaries only after long delays or they may become the center of a family dispute.
If you live in Palmetto Bay, our Wills lawyer could help you prepare your assets for distribution according to your wishes, thus preventing confusion and disagreement among your beneficiaries. Whether you want to distribute your house, investments, or business interests, our estate planning attorney is here to guide you through the process of drawing up your key estate planning documents.
When you make a Will, you are known as the testator. Anyone over the age of 18 and of sound mind in Palmetto Bay may be a testator and work with an attorney to write their Will and plan their estate distribution.
Simply put, a Will is a written document with instructions on how your personal representatives must distribute your property after your death The contents, word choice, or style do not matter, as long as you complete it according to Florida Statutes § 732.502, which requires that a Will must be in writing and signed in the presence of at least two witnesses.
A court could rule your Will invalid if it does not meet all of these requirements. Although rewriting it may seem like a simple solution, your beneficiaries may not discover that your Will is invalid until after your death or incapacitation. Skilled legal guidance from the outset ensures that your Will is valid.
When you die, your estate enters probate—the legal process for handling your affairs, such as settling taxes, paying debts, and distributing your assets. Probate is required for every estate if assets were owned in the individual name of the testator and beneficiaries not designated, but a valid Will simplifies the process and provides the court with a clear framework to follow.
If there is no Will, or it is found to be invalid, the court must defer to Florida’s intestacy laws to handle the situation. Intestate is the legal term used if you die or become incapacitated without a valid Will. In such cases, the court distributes your assets according to a hierarchy, described in Fla. Stat. § 732.102 and Fla. Stat. § 732.103 as follows:
If no eligible family member exists, the state of Florida may receive your assets.
This can be a lengthy and complicated process, as the court makes every effort to locate anyone who could be an eligible recipient. Preparing your Palmetto Bay estate distribution plan with a capable attorney could avoid these issues and help the local courts grant probate quickly.
Regardless of your age or circumstances, it is a good idea to start thinking about how you want your assets to support your family or others. A Wills lawyer at Veliz & Associates could meet with someone in Palmetto Bay and formally record their wishes so there is no confusion or delay.
Let us handle the drafting, organization, and administration while you enjoy time with your family. Contact Veliz & Associates to schedule a consultation and begin the process today.
We evaluate your case and determine how we might be able to help.
We will meet with you to discuss your next options and lay out a plan.
Our team guides you throughout the process so you feel confident about your choices.
(305) 250-9917