If you are new to Florida, Make A Will Month is the perfect reminder to create or update your Will. If you are moving here from a different state, you must check that your Will is transferable. The laws in each state vary regarding estate planning. You should check with a South Florida Estate Planning Attorney to ensure your Will is valid. You might have everything you want planned in your head or written down but have not had the chance to make it legal. There is no time like the present to make plans for the future. If you don’t have an enforceable Will or Trust, your assets will be distributed according to the laws of your state, which may not be what you want. Your loved ones will have to go through a lengthy and expensive probate process.
Now is The Time to Create or Update Your Will
August is the perfect time to make a Will. National Make A Will Month is a reminder to everyone about the importance of estate planning. The purpose of a Will is to protect your loved ones. It will distribute your assets how you see fit, even when you are no longer here – and not leave it up to the courts to distribute your assets. The top reasons to make a Will include:
- It is a vital legal document
- It gives you peace of mind
- Your family will have peace of mind
- You leave a legacy
You can assign an Executor to help with the disbursement of your estate. You can also name charities and handle tax issues. The future is uncertain, and now is the best time to schedule a meeting with a South Florida Estate Planning Attorney.
Choose The Right Will For You
Deciding to make a Will is step one. Now you must determine what type of Will is right for you. Every Will has advantages and disadvantages. You must find the Will that is right for you. There are different types of Wills to choose from, including:
- Simple Will
- Pour-Over Will
- Mirror Image Will
- Out-of-State Will
Sometimes a Will is not the best legal option for your loved ones. You may instead benefit from establishing a Trust. While there are DIY Will tools online, a DIY online tool can not review your unique requirements and goals – and ensure it protects your loved ones. An experienced South Florida Estate Planning attorney will create a customized plan to protect your assets and loved ones – and give you Peace Of Mind.
Difference Between Wills and Trusts
Wills and Trusts are both parts of the estate planning process. When doing research, they can both come up. Both Wills and Trusts allow you to set the terms for managing your affairs after your death, but they have key differences. If a Trust is right for your situation, there are different Trust options including:
Irrevocable trusts cannot be changed once signed, but revocable ones can be. Trusts can often avoid the need for probate.
The Benefits of Making a Will
You must choose the Will that best suits you and your family’s needs. There are many benefits to creating a will. When considering whether you should take the plunge, know that you can take care of the following:
- Avoid probate court for your family
- Ensure your assets are distributed
- Appointing an executor of your estate
- Appoint a caregiver for your minor children
- Appoint caregivers for your parents
Times have changed, and many people must consider who will care for their children and parents if they aren’t here. When you are part of the generation and caught in the middle, South Florida Estate Planning Attorneys can help you. The sandwich generation has more on their shoulders, and estate planning is essential. You may need to address how to handle some of the following:
- Communicating with your parents about their estate needs
- Planning for your future
- Finding and paying for elder care
- Protecting your parent’s assets
We understand that every family has different needs. It is best to work with our South Florida Estate Planning Attorneys to address what your family needs when planning for the future. You will get through this time. We are here to help.
Excuses For Not Making a Will
Many clients will have different reasons for not making a WIll. No one thinks they need one until it’s too late. Your family will feel the most significant impact when they are left grieving for you and handling your estate. Some of the most common reasons for not having a WIll include:
- Lack of time
- It is too expensive
- There is no need for a Will; my partner will get everything
While you might think these are legitimate reasons, they aren’t. Florida laws are complex, and life is unpredictable. Even if you do not think you need a Will, you do. Speak to a South Florida Estate Planning Attorney for assistance.
The Costs of Creating a Will
The cost of making a Will can vary depending on the complexity of your estate. It will also depend on the type of Will you need. Sometimes people will purchase a DIY kit online. While this can help you get the basis for your Will, it is generic and won’t take into consideration your unique needs and goals, or provide the best protection for your loved ones.
Many individuals need an Estate Planning Attorney who understands complex assets and family dynamics. The more assets you have, the more you have to distribute and protect. If you have property, a business, stocks, an IRA and other assets to protect, you need a Will that protects your legacy – and your loved ones. Some factors that can go into your costs include:
- Where you live
- Value of your estate
- Attorneys’ pricing method
- The attorney’s experience level
What you can do to help with costs is to sit down and write down what you want. This can help when you work with a South Florida Estate Planning Attorney. Remember, even if you have a Will form out of state, it could be illegitimate when you move. You can rework your current Will to be legitimate in South Florida.
August Is Make A Will Month
Call THE South Florida Estate Planning Attorneys – The Siegel Law Group
Did you know that nearly 70% of American adults don’t have a will? That’s a lot of people who haven’t taken the time to plan for their future and ensure that their wishes are carried out after they die.
A Will is an essential part of Estate Planning. It allows you to decide who will inherit your assets, appoint a guardian for your minor children, and make other important decisions about your property and finances.
If you don’t have a Will, your assets will be distributed according to the laws of your state, which may not be what you want. Your loved ones may also have to go through a lengthy and expensive probate process.
August is the perfect time to make a will. We can help.
Call our office at 561-576-6206 for a complimentary consultation, or submit our online contact form to schedule a consultation today. If you have any questions, do not hesitate to contact us.