Planning for the future is essential, and having a well-structured will and testament in Florida ensures that your assets are protected and distributed according to your wishes. Without a legally valid will, your estate could be subject to Florida’s intestate succession laws, which may not align with your intentions. This guide covers everything you need to know about creating a will in Florida and how the right of survivorship can play a role in estate planning.
What is a Will and Testament in Florida?
A will, also known as a last will and testament, is a legal document that outlines how a person’s assets and property should be distributed upon their passing. It can also designate guardians for minor children, appoint an executor to manage the estate, and specify funeral arrangements.
In Florida, a will must meet the following legal requirements:
- The testator (person making the will) must be at least 18 years old and of sound mind.
- The will must be in writing and signed by the testator.
- Two witnesses must sign the will in the presence of the testator and each other.
- A self-proving affidavit is recommended to streamline the probate process.
Why is a Will Important?
Having a will in place offers numerous benefits, including:
- Ensuring your assets go to the intended beneficiaries.
- Avoiding family disputes over inheritance.
- Naming a guardian for minor children.
- Reducing the time and cost of probate.
- Protecting your legacy according to your wishes.
Right of Survivorship in Florida
The right of survivorship is an important estate planning tool that allows property to automatically transfer to a co-owner upon the death of the other owner, bypassing probate. In Florida, this applies primarily to:
- Joint tenancy with right of survivorship – Property is owned equally by two or more people, and when one owner passes away, their share automatically transfers to the surviving owner(s).
- Tenancy by the entirety – A special form of joint ownership available only to married couples that provides survivorship rights and additional asset protection benefits.
How to Create a Will in Florida
To ensure your will is legally valid and meets your estate planning needs, follow these steps:
- Take Inventory of Your Assets – List all properties, bank accounts, investments, and valuable possessions.
- Choose Beneficiaries – Decide who will inherit your assets.
- Appoint an Executor – Select a trusted person to manage your estate after your passing.
- Designate Guardians – If you have minor children, appoint a guardian to care for them.
- Draft and Sign Your Will – Work with an attorney to ensure your will complies with Florida law and is properly executed.
- Store It Safely – Keep your will in a secure location and inform your executor and loved ones where to find it.
What Happens If You Die Without a Will in Florida?
If you pass away without a valid will (intestate), Florida’s intestacy laws will determine how your assets are distributed. Typically, the estate is divided among surviving spouses, children, or other close relatives. However, this may not reflect your personal wishes, making it crucial to have a properly executed will in place.
Final Thoughts
A well-drafted will and testament in Florida is essential for protecting your assets and ensuring they are distributed according to your wishes. Additionally, understanding the right of survivorship in Florida can help streamline estate transfers and reduce probate complications.
To create a legally sound estate plan, consider consulting with an experienced estate planning attorney. At Lumsden Law Firm, we specialize in helping Florida residents secure their legacies through comprehensive will and estate planning services. Contact us today for expert guidance and peace of mind.
For professional legal advice and assistance in drafting your will and testament in Florida, visit Lumsden Law Firm.
