Designate Your Beneficiaries.
A Last Will and Testament is a set of instructions that you leave behind when you pass away that dictates what you want to happen with your property (whether real or personal). A Will is probably one of the most important documents you will ever have executed in your lifetime. Florida Law gives you much leeway when it comes to gifting your property when you die. For example, you can disinherit all of your children, give all of your property to your spouse, or gift it all away to charity. Of course there are exceptions, however, you can pretty much do anything you want.
Designate a Guardian for Your Minor Children.
You can designate a Guardian for your minor children as opposed to allowing the courts make that decision, even though the court must still approve the Guardian you have chosen for your minor children in your Will. Moreover, the courts will give your chose preference, unless someone will come forward and support the position that your chose Guardian is unfit to serve as the Guardian of your minor children. A Guardian can be a friend or family member. Ideally, it should be someone who is loving, caring, and trustworthy. If your child is old enough, maybe you could get their opinion on who they would prefer as their Guardian.
Designate a Trustee for Your Minor Children.
You can designate a Trustee, so that they can manage the property for your minor children until they reach the age that you decide is appropriate in order to receive the remaining assets held in the Trust. A Trustee can be a friend, family member, your attorney, or bank. Typically, the person you choose should be someone who is financially responsible.
Designate Your Personal Representative to Administer Your Estate.
You will designate your Personal Representative (aka Executor), which will be the person who will be responsible for administering your estate in Probate Court, in order pay your debts, taxes, and ultimately transfer your property to your beneficiaries. Of course, your Personal Representative won’t do all of this alone as they will be tasked of hiring a Probate Lawyer, which will guide your Personal Representative with exactly what you need to do. There are certain requirements on who can serve as Personal Representative, according to Florida Law. For example, one must be at least 18 years old and not have been convicted of a felony.
What if I Need a Last Will and Testament?
If you need a Last Will and Testament or need assistance with a Probate matter due to the passing of a loved one, please call our office at (813) 897-0295 anytime (24/7) and schedule your initial consultation.
