Many otherwise successful and diligent people overlook what could be one of the largest tax-saving devices available to them during their entire lifetimes: a will. Wills are the primary document for transferring your assets upon a person’s death. It is the document in which you specify how, to whom and when you wish to have all of your earthly belongings distributed. Although this is a vital document, many people procrastinate or defer having one drafted. Consequently, many people die without the benefit of their specific instructions being carried out.
If you die without a will, you die ‘intestate’. If this occurs, your estate will be distributed according to the probate laws of the State of Florida if you reside in Florida. More than likely, this distribution will not be according to your wishes. This could also cause problems in your immediate family due to disputes over who was meant to receive what, what proceeds go to your spouse as well as any intended charitable bequests.
In drafting a will, several factors must be taken into consideration. These include, but are not limited to:
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A competent attorney should be employed for the drafting of a will. While there exist many do-it-yourself products on the market which do provide presumably valid documents, there is no substitute for professional advice and sound legal counsel.
Once your will is finalized, it may be changed as you deem necessary to reflect your ever changing situation. Such changes may be based upon a birth or death in the family, a divorce, change of residence or change of intended beneficiaries. Even without a major life change, wills should be reviewed every two or three years to ensure that your intentions will, in fact, be carried out upon your death.
Common Questions of Law: Wills
In the everyday practice of law at Akerson Law Offices, common questions of law are asked by clients of the firm. A few of the most common questions which are responded to concerning wills and probate are as follows:
Phone: (727) 347-5131
We offer a 'Complimentary Estate Plan Review' for all new clients.
This website outlines general legal principles and is not intended to give you legal advice. If you have a specific question about the law, please consult an attorney.
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Contact Information
Akerson Law Offices
535 49th St. North
St. Petersburg, Florida 33710
Phone: 727-347-5131
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