In your Last Will & Testament, you will designate your heirs and how you wish your estate to be divided upon your death. Although many people do not believe they need this because they do not have much by way of investments and possessions, you should take into account that lawsuits often follow deadly accidents and wrongful deaths, and your estate might reach quite a significant value if this should be the circumstances of your unfortunate demise. Without a Last Will and Testament in place, how your assets are distributed will be determined by the laws of the State of Florida, or your state of residency if you establish residence elsewhere prior to your death. In the event of persons with no living heirs at law, the estate would belong to the State of Florida, under the law. If this is your situation, you could designate a donation to your favorite charity or charities in your Last Will & Testament.
In your documents, you will also designate a trusted person as your Executor or Executrix (also called a Personal Representative). It is recommended that you designate a primary and a secondary Executor/Executrix, in the event the primary designate should be unable to serve fr any reason. This is the person who will be in charge of handling your final affairs.
If you have any pets that will/may outlive you, you can also designate who they are going to go to and provide for their care, within your Last Will & Testament. You may also designate therein your final wishes as to burial or cremation.
Although many believe it is a bad omen to deal with these matters when they are young, this is merely a result of the inherent discomfort of having to deal with an unpleasant matter most of us prefer not to think about. But, it is better to plan ahead rather than at the time of need. Many put off drafting their Last Will & testament until it is too late and they have too ill, or perhaps mentally incompetent, to be able to memorialize their final wishes.
Ensuring that these matter are pre-determined in a Last Will & Testament will ensure that your loved ones are cared for as per your intent and desires, that your estate is divided according to your wishes, and help your loved ones focus on their grief and loss rather than have to deal with an intestate division of assets at one of the most stressful time in their lives.
Call us to discuss your particular needs. We offer no cost consultations.
Our Practice Areas: