What Are The Advantages Of Having A Will In Fort Lauderdale?
Do I Need A Will In Fort Lauderdale?
The process of creating a last will and testament can make many hard conversations arise, and it never seems like a good time to start making plans for when you -or a loved one- pass away. But there are many lucrative reasons and advantages to creating a will in Fort Lauderdale and, with the right legal help, you can accomplish this process with minimal headache.
In the future, estate planning has the potential to save you and your family a lot of time and money. Wills, trusts, and Medicaid arrangements are aspects and tools you can use as part of an estate plan that can assist you with the logistics of your needs when the time comes.
Although it never seems like the right time to think about you or a loved one’s death, the earlier you start the process of planning a will, the better. The peace of mind that comes with having a secure plan in place is unmatched, and it’s comforting to know your friends, family and loved ones will not need to handle your finances after you’ve passed away. A will, which is part of your estate plan, ensures that your family is not burdened by the technical aspects of your death.
What Are The Advantages Of Having A Will In Fort Lauderdale?
When you create a will, you have the opportunity to decide how your estate will be distributed. Your estate is the totality of all your money, property, and other financial assets that you hold at the time of your death. Creating a will is the only way to ensure your wishes are being upheld when you pass away and that your inheritors and recipients will receive your assets exactly how you intended.
If you have children who are minors, having a will lays out a precise framework for how your children will be cared for when you pass away. This includes choosing family members as appointed guardians, and formally stating who you don’t want to take care of your children.
When you make a will, you can also choose to “disinherit” certain people who might otherwise inherit your assets. For example, if you pass away without a will, the assets you’ve worked hard for may end up in the hands of someone who you feel doesn’t deserve to have them.
Your estate planning attorney in Fort Lauderdale will help you appoint the executor of your will, which is the person chosen to execute your will and manage it after you’ve passed. Your executor needs to be an honest, trustworthy and organized individual, so it’s most beneficial to choose who will fill this role yourself. This is a part of the will planning process that becomes extremely important once you pass away.
All wills and estate must undergo probate, which is often a lengthy, time-consuming process in which the state examines your assets and your plan for distributing them. Having a will expedites the probate process, tells the state court the ways in which you’d like to distribute your estate and makes things easier for all parties involved. Without a will, it becomes the state courts’ responsibility to divide your estate, which can result in things going differently than you planned.
In addition to avoiding a long probate process, your estate planning attorney may help minimize your tax liability to ensure your assets are not greatly diminished by taxes placed upon your estate after you die. Without a will, your assets will be subject to tax which will reduce the amount of money you’re able to give to loved ones.
What Happens If I Pass Away Without A Will In Fort Lauderdale?
Simply put, passing away without a will means anything can happen to your hard-earned assets. The only way to ensure they are distributed how you want them to be is by consulting with an attorney and proactively establishing your will.
As previously mentioned, those without a will could suffer an extensive court probate process in which the state court will examine the sum of your assets and distribute them how they see fit, which means certain family members or relatives may receive your money even if you didn’t want them to. It can take several months or even years for the court probate process to be over, which means your loved ones may not have access to your assets for quite some time after you’ve passed.
Additionally, any children or dependents of yours will become the responsibility of their other parent or a different relative, which may be different than your original wishes for them. By appointing a trusted executor of your will early on, you can ensure that your wishes are well-represented and that this important responsibility doesn’t become just anyone’s.
How Easy Is It To Create A Will In Florida?
With the right estate planning attorney, creating your will can be a straightforward and simple process. Marc Brown, P.A is a trusted Fort Lauderdale estate planning lawyer who’s committed to helping families plan for past their lifetime in order to live comfortably today.
Your first step involves consulting with a lawyer and voicing your concerns. Not all estate planning attorneys in Fort Lauderdale offer a free case evaluation, but Marc Brown, P.A, and his team do. In your free case evaluation, you can give the attorney context regarding your finances, assets, and your concerns for your estate after you’ve passed away. Since every case is different, your lawyer will listen to your wishes and create clear next steps for achieving the goals of your will.
To be valid, a will must be in writing, signed, and attested. Only a lawyer can ensure your document is legitimate, mitigating the risk of any legal trouble once you’ve passed away.
Putting together a will and estate plan is not a feat you should attempt to tackle alone. Only a seasoned estate planning attorney can proactively take steps that mitigate future risk and can keep you on track for a seamlessly executed will.
Schedule A Free, No-Obligation Consultation With Marc Brown, P.A Today
The legal team at Marc Brown P.A is committed to helping Fort Lauderdale residents understand the process of creating their will. It is never an easy time to think about planning past your lifetime, but the earlier you start the less of a burden it becomes
Call the law office of Marc Brown, P.A at (954) 566-5678 to schedule your free initial consultation today so you can start planning your will one step at a time.