Planning for your future is an essential part of life. From a legal standpoint, creating a will could be one of the most important steps you take to protect your legacy after you pass away. It is also a strong method to ensure that the family and friends you care about will be protected and supported in your absence. Work with a Jacksonville Beach Will attorney to ensure everything is set in place and reflects your personal and financial goals.
At the Law Office of Douglas A. Oberdorfer, P.A., we proudly help individuals and families create comprehensive legal wills that meet their exact needs. Our team of Jacksonville Beach estate planning lawyers understands how important it is to protect your assets and ensure your loved ones are provided for. To help you achieve this, we guide you through every step of the entire process to make you feel confident that your estate planning is in capable hands.
When the time comes to make your will, there are many different factors to take into consideration. Each of these will help ensure your wishes are carried out as intended and that your family is left with clear instructions.
Some important things to consider include:
In the will-making process, an executor needs to be selected. This is someone who will take on full responsibility for managing your estate after you pass away. It’s an important role with significant responsibility, as they will handle everything from settling debts to distributing all remaining assets to your designated beneficiaries. These individuals should be trustworthy, highly organized, and capable of managing complicated legal and financial tasks.
Anyone who has minor children needs to use a will to name who they might want to take care of their kids when they’re gone. This individual will officially be appointed as a legal guardian if their parents pass away while they’re minors. In this role, your designated guardian would be responsible for your child’s education and health and simply maintaining their overall well-being. This should be someone you trust and who shares similar parental values.
One of the top reasons why a will is created in the first place is to determine how assets will be distributed after death. This can include many different items, such as real estate properties, bank accounts, investments, and other personal belongings. When selecting who is to receive what items, it’s important to be as specific as possible. This can help avoid disputes among your family members when you can no longer clarify your intentions.
Setting up a will is also necessary to help ensure all outstanding debts are fulfilled, and taxes are paid. This will help remove that burden from being passed on to any existing family members. After your death, your estate is responsible for paying any debt left behind, like credit card payments and mortgages. Also, proper planning can help minimize the tax burden your family faces. For example, you could set up trusts to gift assets during your lifetime.
All wills must meet a strict list of requirements to ensure they will be enforceable in the future. For example, the document must be signed by the Testator, who is the individual making the will. They must also have at least two individuals who witness the Testator signing the document who don’t have any stake in the will. To secure peace of mind, hire an estate planning lawyer who can help ensure the will is properly drafted and legally sound to survive the test of time.
A: There is no universal cost of creating a will in Florida, as each individual will have unique needs that will either drive the price up or down. The complexity of an estate has the largest bearing on the final cost, as the longer an attorney needs to work on drafting terms and conditions, the more time and effort they can charge for. However, these upfront costs can have a large return on investment to ensure your will is legally sound and reflects your desires.
A: While no legal requirement says a will needs to be notarized to be valid in Florida, it is still a highly recommended practice. Having this in place can help speed up the probate process by eliminating the need for your witnesses to testify that the will is valid after you pass away. To avoid this, simply hire a notary to observe you and your witnesses signing the document. This extra step can save your family a ton of time and headaches in the future.
A: If you pass away in Jacksonville Beach, Florida before you have a chance to set up a will, your estate will be at the mercy of the state’s intestacy laws. What this means is that the court will have full authority to decide who will inherit your assets. This is generally a benefit afforded to your closest family members who are still alive. If you take issue with a close family member inheriting specific assets of yours, be sure to set up a will as soon as you can to make your beneficiary designations.
A: Yes, anyone has the ability to revisit an original will they made and make updates. This can be done by voiding the original will and creating a new one or simply adding legal amendments to the original document. Amendments are typically done when someone needs to make a minor change, like adding a new beneficiary or swapping their executor for someone else. Significant changes are typically encouraged to start an entirely new will.
While the details of creating a new will can be overwhelming, no one is forced to go through the process alone. At the Law Office of Douglas A. Oberdorfer, P.A., we understand how intimidating the process can be. It prevents people from being as proactive about their estate planning as they would like. Contact us today to avoid putting it off any longer and secure peace of mind knowing your assets will be protected in the future.
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