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Back To Estate Planning Video Help Page
Our video today briefly explains the purpose of a will, and how important it is to meet with an estate planning attorney to discuss a plan for your estate.
A valid Florida will is the core of any estate plan, regardless of how much or little you own. Creating a will enables you to control the distribution of your property and real estate at the time of your death.
Speak with an experienced Florida attorney at our firm today.
Call 855-Kramer-Now (855-572-6376).
Your will may name a personal representative for your estate. This representative would have the powers, as instructed by your will, to manage the distribution of your assets and property as well as handle the payment of outstanding debts on the estate. The entire process is called probate, and is designed to insure that the final wishes of the deceased are accomplished in both the distribution of assets and the payment of creditors of the estate in compliance with Florida law.
Another important function of a will is that it may carry the directions for naming a guardian for children under the age of 18 should both legal parents die. You may also draft a will to create trusts that protect minors and loved ones with special needs.
Does the Will Control All My Assets?
The probate estate: The creator of the will is the Testator. Generally, any personal property, accounts, real estate and other assets in the Testator’s name only at the time of his or her death are considered part of the probate estate, and are controlled and disbursed as directed in the will.
Non-probate assets: There may be other items not owned solely in the Testator’s name; instead they are owned jointly. For example, the home, cars or bank account may be owned as joint tenants with right of survivorship. In that case, complete ownership would automatically transfer to the surviving owner of these properties upon the death of the Testator.
IRAs and 401(k) plans and life insurance policies generally are not included in a person’s estate because each is defined by the policy itself with an assigned beneficiary. These types of assets are transferred directly to beneficiaries as stated in the policy.
Do Not Wait any Longer to Have Your Florida Will Drafted
Do you have a will? An astonishing number of people do not. Once you reach the age of 18, and regardless of the size of your estate, there are minimum documents and arrangements you should have in place. A simple Last Will and Testament specifies who inherits what, and who will settle your estate. If the unthinkable happens, if death or disability occurs, your family and your property are protected.
TK Law represents all manner of estates, including estates centered around a Last Will and Testament and complex trust-based estate plans. We are experienced in all aspects of probate law and estate administration, and can counsel you in all of your estate matters—from drafting wills and trusts to probate administration.
Contact Orlando Estates Planning Attorneys
We represent clients throughout Central Florida, not only in estate planning but in all areas of law. Our attorneys are capable, prepared, and well qualified to represent you, no matter what legal challenges you face. We welcome your questions and invite you to contact us or call us at 855-Kramer-Now (855-572-6376).
Get Help with Legal Issues Now! – Call 855-Kramer-Now (855-572-6376)
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