Wills & Trusts
Write a well-prepared will or trust with the help of an experienced estate planning attorney.
In life, some things are unpredictable. There’s always a possibility for people to fall ill, become unable to make important decisions, or die. It’s best to prepare a plan for how you want your base asset to be managed to spare your family from the stress and other issues that arise during these emotional times.
One of the best ways to prepare is by writing a will or trust. While we may not want to think about death or other unfortunate situations, it pays to have a well-written will or trust to be ready. It’s best to hire a trusted estate planning attorney to guide you through this complex and emotional process.
At Myrthil’s Law, P. A., we have an estate planning attorney to assist you in creating your will or trust—or both. We understand that preparing such documents can be emotional and difficult to navigate. Our team’s here to help you ensure that your properties are managed or distributed the way you want them to.
Why Do You Need a Will or Trust?
Wills are legal documents that specifically outline your personal wishes and plans regarding how your properties will pass and to whom they will pass on when you die. These documents specifically name the person or people you are entrusting to act as your representative to ensure that your desires and plans are carried out.
They can also specifically name your beneficiaries, assign a guardian for your dependents or pets, and provide funeral directions. They protect your family from disputes and stress and ensure that your assets pass ownership based on your wishes and not based on the judgment of the law.
Trusts are commonly created to minimize estate taxes and avoid probate proceedings. They allow you to name the person you are entrusting to act as your trustee and offer several other advantages as well. They can be used to manage assets while you are alive if you become incapacitated or upon your death.
They can also be used to specifically name your beneficiaries and assign a guardian to be responsible for the care of your dependents or pets. They can be arranged in multiple ways, and they usually specify how and when your assets and properties pass down to your beneficiaries.
What Happens if Someone Dies Without a Will or Trust?
In Florida, if you pass away without a will, your assets will be given to your closest relatives under Florida Intestacy Statutes. Only assets that pass through your will are affected by the laws of intestate succession. These include properties that you own alone, in your name.
Various properties don’t go through your will and aren’t affected by the laws of intestate succession. Some of them are:
- properties you own with other people in joint tenancy or tenancy by the entirety;
- life insurance proceeds;
- securities in a transfer-on-death account;
- payable-on-death bank accounts;
- funds in a 401k, IRA, or other retirement accounts; and
- properties you transferred to a living trust.
How Myrthil's Law,
P. A. Can Help
Myrthil’s Law, P. A. can help you prepare your will or trust and ensure that your assets are managed or distributed as you wish. We understand that going through such complex and emotional processes can be difficult, and we’re here to protect your wishes, desires, and best interests.
There are a significant number of ways in which a trust may meet your needs more completely than a will—or for some, a will over a trust. Our estate planning attorney knows the ins and outs of the legal system and has helped guide many estate planners in figuring out the best option for them.
