Set Up a Will Now to Avoid Legal Complications in Estate Plan in Central Florida
Losing a loved one is one of the most difficult experiences any of us can face. The grieving process can be overwhelming, and the last thing anyone wants to deal with during that time is legal complications. However, without a last will and testament in place, the process of distributing assets and property can become a nightmare for those left behind.
At Veliz Katz Law, we understand the importance of protecting your assets and ensuring that your loved ones are taken care of after you’re gone. A last will and testament is a legal document that allows you to outline your wishes for the distribution of your assets and property after your passing. This not only gives you peace of mind but also ensures that your loved ones are provided for, and your assets are distributed according to your wishes.
Without a last will and testament, your assets and property may be subject to Florida’s laws of intestacy, which can result in unexpected and undesired outcomes. By creating a last will and testament with us, you can rest assured that your assets will be protected and your loved ones will be provided for.
Don’t leave your future and the future of your loved ones to chance. Contact Veliz Katz Law today to schedule a consultation and start planning for the future.
What Do I Need To Know About Wills in Estate Planning?
- You must be of sound mind and legal age to create a will: Generally, you must be at least 18 years old and mentally competent to create a will. This means that you must understand what you are doing and the effects of your actions.
- Your will can be changed or updated: You can change or update your will at any time during your lifetime as long as you are of sound mind. This can be done through a codicil, which is an amendment to your existing will, or by creating a new will.
- You should name an executor: Your executor is the person who will be responsible for carrying out the provisions of your will. It is important to choose someone who is trustworthy and responsible.
- You can leave specific instructions: In your will, you can leave specific instructions about how you want your assets to be distributed. You can also name guardians for minor children and make charitable bequests.
- Your will may go through probate: Probate is the legal process through which your will is validated, and your assets are distributed. It is important to understand that this process can be time-consuming and expensive.
- Your will can be contested: Your will can be contested if someone believes that it is invalid or that they have been unfairly excluded. It is important to have a well-drafted will to minimize the chances of a successful challenge.
Why Should I Create a Will?
There are several benefits to creating a will, including:
- Control over asset distribution: A will allows you to decide how your assets will be distributed after your death. You can choose who will receive your assets and in what proportion. This can provide peace of mind knowing that your wishes will be followed.
- Appoint guardians for minor children: If you have minor children, a will allows you to name a guardian to take care of them in the event of your death. Without a will, a court will decide who will be the guardian of your children, which may not align with your wishes.
- Minimize family disputes: A well-drafted will can minimize the chances of disputes between family members after your death. It provides clarity and reduces confusion about your wishes, which can prevent disagreements and legal battles.
- Reduce estate taxes: A will can be used to reduce the amount of estate taxes that your beneficiaries may be required to pay. This can help to preserve more of your assets for your loved ones.
- Protect your business: If you own a business, a will can help to ensure that it is passed on to the appropriate person or entity after your death. This can help to ensure the continuity of your business and protect the livelihood of your employees.
Creating a will is an important step in planning for the future and ensuring that your wishes are followed. It is always advisable to seek the assistance of an experienced attorney to ensure that your will is legally valid and enforceable.
What Happens If I Don't Make A Will?
- Distribution of assets may not align with your wishes: If you die without a will, your assets will be distributed according to the laws of intestacy in your state. This means that the distribution may not align with your wishes, and the people you want to receive your assets may not receive them.
- Family disputes: Without a will, family members may disagree on how your assets should be distributed, which can lead to disputes and even legal battles.
- Court involvement: If you die without a will, the court will appoint an administrator to distribute your assets. This can be a lengthy and expensive process, and the administrator’s decisions may not align with your wishes.
- No control over guardianship of minor children: If you have minor children and die without a will, the court will decide who will become their guardian. This may not be the person you would have chosen.
- No tax planning: Without a will, you may miss out on opportunities to reduce the tax liability of your estate, which can result in less money being passed on to your beneficiaries.
Why Do I Need a Maitland Wills Attorney to Help Me?
While it may be tempting to create a will on your own, it is important to consult with an attorney who practices estate planning. There are several reasons why a reader might be tempted to DIY their will. Doing this can be much cheaper than hiring an attorney to draft a will. However, skipping the attorney can cost you and your family more money in the long run, not to mention the headache that a poorly-drafted will can cause!
Veliz Katz Law can provide assistance with creating a will and other estate planning matters. Their experienced attorneys can guide you through the process, ensuring that your will meets the legal requirements of Florida and accurately reflects your wishes. They can also provide advice on tax planning and other issues related to estate planning. Working with an attorney from Veliz Katz Law can help ensure that your will is legally valid, and enforceable, and provides peace of mind for you and your loved ones.
Call our Maitland Wills Attorney Today!
Creating a will is an essential part of planning for the future and protecting the interests of your loved ones. While it may seem like a daunting task, consulting with an attorney who works in estate planning can make the process much easier and ensure that your wishes are carried out in accordance with the law.
Delaying the creation of a will can have serious consequences. Without a will in place, your assets may be distributed in ways that do not reflect your wishes, and your loved ones may be left without the financial resources they need. In addition, delays in creating a will can lead to missed opportunities for tax planning and other strategies that can minimize the tax liability of your estate.
By creating a will with the guidance of an attorney, you can ensure that your wishes are carried out, and your loved ones are provided for after your death. Don’t procrastinate on creating a will – take action today to protect your future and the future of your loved ones. Contact our Maitland law firm to get started on creating your will and other estate planning documents.
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