Florida Wills and Trusts for Protecting Your Legacy
Last Wills and Testaments
Many Floridians pass away without even a basic Will. Having a last will drafted and properly executed is essential to ensure a decedent’s wishes are carried out without confusion, conflict, or extensive delay. Another advantage of having a will is selecting an executor of your choosing to distribute property and assets to your beneficiaries. If there are minor children, a will can designate a known, trusted guardian that will best care for your children’s financial future.
There are disadvantages of a will as an estate must be probated, which can be a lengthy and costly court process. At probate proceedings, the court settles the decedent’s debts before the distribution of assets. The probate process becomes a public record, affording the beneficiaries no privacy in the estate’s settlement. A Will is only in effect after a person’s death. Therefore, if a person is incapacitated, the executor cannot manage the person’s financial matters.
Updating Wills and Trusts
It is essential to update estate planning documents every few years or when there are financial or personal lifestyle changes. It may include a marriage, a divorce, the birth of a child, the purchase or sale of a business, an inheritance, the death of a spouse or beneficiary, or new legislation that affects estate tax laws. Keeping your estate plan current ensures that your wishes regarding your legacy are honored.
Let Our Experience Be Your Guide to Effective Estate Planning
At Downer Law, we represent clients of all ages. Our clients include married and single clients, multi-generational and blended families, business owners and executives, professionals, and retirees. Estate planning is for every age and socioeconomic status. We are experienced in drafting simple wills and trusts and have clients that require sophisticated estate planning strategies to meet their needs. We know that clarity in the language of the documents and communication with our clients is the key to a successful estate plan.