Category: Probate Law

Probate- Process of Outlining Who Receives the Assets of Decedents

Wills and trusts are some of the most commonly used forms of estate planning in the state of Florida. Probate of wills is an estate plan that outlines who receives the assets after the death of the decedent, including who will collect the assets and pay off any debts owed to others. Wills and trusts are used to restructure the decedent’s estate so that it goes according to the wishes of the decedent. While a probate lawyer may be of assistance in creating the most reasonable estate plan, they can also help to negotiate the terms of the probate, or ensure that the wishes of the person deceased are followed.

Probate of Wills

 

Florida is not one of the states that allow the individual to make the decision for the disposition of his or her property. The state of Florida requires that all probate proceeds be paid to the beneficiaries of the decedent’s estate. Therefore, in the event of the decedent’s death, a Will must be prepared and executed by a qualified probate attorney in order to satisfy the intestacy requirements of the state of Florida.

 

Many people use a will and trust to provide for the continuity of their finances after their death. A will can be prepared with or without the express instructions of the decedent. It may be prepared utilizing a living trust, a revocable living trust. In addition, many people use a trust to establish a trust of a power of attorney for the decedent to handle their finances upon their death.

 

There are a number of ways of avoiding probate and making sure that the final expenses of your life are paid. The most important thing to remember when making decisions about estate planning is that probate can place a significant amount of control over your assets. For this reason it is very important that decisions about the disposition of your belongings be made with your close family members. If you have adult children, it is important that they have the involvement and input needed to help make these decisions. Even if you do not have children, you will want to keep in mind that they will have a voice in the process of your passing away. Your closest family members will want to know where you banked your money, what your assets were used for and what type of insurance policies you had.

 

If you are unable to come to an agreement regarding the management of your affairs, you will need to appoint an estate attorney to oversee the probate process. Probate of wills is not a mandatory process, but having one can protect your assets from the probate court while also providing you with peace of mind. You can hire an estate attorney to review your wills with the help of a legal councilor and fill out the appropriate forms and provide you with the information you need to fill out your own will. This will take care of all the logistics of the distribution of your assets, said miamiprobateattorneys.net.

Probate of wills is just one procedure that is part of estate planning. It is not, however, the only procedure that you should engage in and nor is it the best procedure for your particular situation. A probate attorney in the Miami area who specializes in probate of wills can assist you in developing a plan that is in your best financial interest.