Asides making plan, you need to consider who will handle the execution of your wishes over your estate. Choosing the right candidate for this would ensure smooth transfer of your estate to desired beneficiaries and also proper implementation of other estate plans. Perhaps, besides deciding to make estate plans, the next most important thing is the person chosen to implement the plans. A probate or estate lawyer would be a good selection for a fiduciary. The fiduciary is also known as the estate executor. The first phase of implementation for an estate plan is for the executor to initiate proceeding for reading the plan to the beneficiaries. The fiduciary can act as a personal representative, successor trustee, a trustee as well as a financial advisor.
A will is an estate planning document by which you can transfer assets to your named beneficiaries after your death. In writing your will, you must consider whom to name as your beneficiaries, what assets or funds they are to receive, and as well name an executor to carry out the instructions on your will.
Requirements for a valid Will
The legal requirements to write a valid will in Fort Lauderdale are consistent with those of other states. They are as follows; the individual must be 18 or older, they must be of a sound mental capacity at the time the will was created, the will must be in writing, it must bear the signature of the testator along with those of at least two witnesses who must be present at the time the testator signs the will, each witness must also witness the signature of the other witness. These requires are however, further subject to the estate laws in Fort Lauderdale at a certain time.
Having a Will vs. not having a Will.
When you pass away leaving a will and estate in Fort Lauderdale, your will and estate must pass through a court process known as probate before the estate can be distributed according to your will. The executor of the will is faced with a lot of legal responsibilities; probate can often be tiresome, costly and lengthy, but having a professional working with you guarantees the smoothest and shortest probate possible. If you have just found out that you were named as an executor, get help in probating the estate by contacting our offices today.
Estate planning would be more relatable when you consider what happens when you don’t have a valid estate plan. It would be right to say that, a person is decides not to have an estate plan, is planning for intestacy and long probate processes. Looking further, when someone dies without a proper estate plan document, in this case, a will, such individual would be said to have died intestate; meaning dying without a will or estate document. The properties of the decedent in this case would be shared though the intestacy laws of the state. Probate are court processes to determine the validity of a will or estate document. This process could be long and discouraging, however, with certain estate document, like a living trust, probate process could be avoided.
Essential estate planning tips.
- Estate plans can be made to reflect and implement your mid, short and long term plans. However, you can speak with an estate planning lawyer to know suitable documents that would reflect these plans.
- Since estate plans are made in preparation for any uncertain life occurrences, you need the right lawyers to ensure your desires and plans are duly implemented.
- Our Fort Lauderdale estate planning lawyers would guide you through any probate process. Also, the estate lawyer can step in a play the role of the executioner of your estate plan.
- The living trust is an essential estate document. While other estate document such as last will may go through probate before it can be implemented, the living trust allows transfer of assets without any probate process.
Contact Fort Lauderdale Estate Planning Lawyer
Estate planning can be a tough task, depending on how you want your estate to be planned. Ever more complicated is planning it all by yourself. To ensure that your estate is well planned, it is best you contact a professional, one who is quite conversant with estate planning and the estate planning laws in Fort Lauderdale.
If you reside in Fort Lauderdale and you need help regarding the planning of your estate, you can contact our estate planning lawyer in Fort Lauderdale.