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Do you know what will happen to your estate after you die? Will your loved ones and family members be provided for? Will all your hard work ultimately contribute to a lasting legacy?
These may seem like questions without answers, but the reality is that there’s an easy way to make sure your wishes are carried out: Write them in your will. After you’ve passed away, your will can serve as your mouthpiece, communicating how you’d like your estate to be managed, divided, and distributed — but only if it’s properly drafted and executed, preferably as part of a larger estate plan.
If you are unsure about how to move forward with creating your will, don’t worry — William C. Roof Law Group is here to help. This article will explain everything you need to know about will creation in Orlando, including how wills work, types of wills in Florida, the steps to establishing your will, and how our legal services can help.
Contact UsUnderstanding Wills
A will is a legal document that outlines how a person’s estate should be distributed upon their death. The will’s creator (the testator) also uses their will to specify beneficiaries and official appointments, including a personal representative (executor) and guardians for minor children, if necessary.
In the State of Florida, wills must meet specific requirements to be considered valid. These criteria include the following:
- The will must be in writing.
- The testator must sign the will.
- The will must be signed in the presence of at least two witnesses who must also sign the document.
- The testator must have the mental capacity to understand the nature of the will and its implications for their assets.
A will, also called a last will and testament, plays a critical role in ensuring that the testator’s wishes are honored after their death, providing clarity to the probate process. Rather than set in stone, a will can be amended through codicils, or revoked and replaced with a new will. If you have questions about this process, consult an experienced probate attorney for legal advice.
How Does a Will Work?
When you’re ready to create a will, you will work with an experienced Orlando estate planning attorney to draft it and ensure it meets legal requirements outlined by Florida law. Your will should specify a number of things, including how assets should be distributed to beneficiaries, the personal representative, guardianship appointments (if applicable), and any other special needs and instructions.
However, the mere presence of your will does not complete the process. After you pass, your will goes through several key steps in the probate process before assets can be distributed, which is why it is helpful to work closely with a probate lawyer. Here’s how it works:
- Filing the will. After the testator’s death, the decedent’s (deceased person’s) will is filed with their county’s probate court.
- Validating the will. The court validates the will to make sure it meets legal requirements.
- Appointing the personal representative. The court appoints the named personal representative to administer the estate.
- Notifying creditors and beneficiaries. The personal representative notifies creditors and beneficiaries of the probate proceedings.
- Compiling an asset inventory. The personal representative conducts a comprehensive inventory of the estate’s assets and files it with the probate court.
- Paying debts and taxes. The personal representative pays outstanding debts, taxes, and expenses from the estate.
- Distributing assets. After the estate’s debts and taxes are settled, the personal representative distributes the remaining assets to named beneficiaries according to the will’s instructions.
- Final accounting. The personal representative submits a final accounting of the estate’s administration to submit to the court.
- Court approval. After the court reviews the final accounting and determines everything is in order, it approves the distribution of remaining assets.
- Closing the estate. Lastly, the court issues an order closing the estate, which concludes the personal representative’s duties.
Ultimately, the testator’s will provides a roadmap for how assets should be distributed, but the actual distribution of assets occurs at the end of the probate process. The best way to ensure that the process goes as smoothly as possible is by working with an experienced wills lawyer in Orlando to draft the legal document.
The Different Types of Wills for Florida Estate Planning
The State of Florida recognizes more than one type of will. In fact, there are several types of wills, each of which serves its own purpose and has its own set of legal requirements. Here are a few of the most common types of wills used in Central Florida estate planning:
- Simple will. This is the most basic form of a will, serving two basic functions: outlining how assets should be distributed and naming a personal representative to administer the estate. It is ideal for individuals with relatively straightforward estates.
- Pour-over will. A pour-over will is designed to work alongside a trust. Essentially, it specifies that any assets not included in the trust at the time of the testator’s death should be transferred into the trust.
- Living will. Also known as an advance directive, a living will communicates an individual’s wishes regarding medical treatments and end-of-life health care, in the event they become incapacitated.
- Testamentary trust will. This type of will is used to establish a trust upon the testator’s death, including provisions for creating the trust and how the trustee should manage and distribute its assets.
- Joint will. This legal document is executed by two individuals, typically spouses, to outline the distribution of their combined assets after one or both members dies. Although useful for creating a unified estate plan, a joint will is relatively inflexible.
- Mutual will. Similarly, a mutual will is executed by two individuals, typically spouses, with identical or complementary terms, as well as with the understanding that neither party will change their will without the consent of the other.
It’s important to note that there are also several types of wills that Florida law does not recognize. These include holographic wills (which are handwritten and unwitnessed), and oral wills (which are spoken rather than written).