A Testamentary Will, also referred to as a Last Will and Testament, is an estate planning document which outlines your wishes relating to your property, assets, investments, or other relevant possessions in the event of your passing.
Many times the language in a will may differ based upon your family dynamic, such as if you are:
In the State of Florida, when an individual passes away, the deceased is automatically considered to have an estate plan in the form of existing estate plan documents or by rulings made by the court regarding your property and assets. In cases where a Last Will and Testament does not exist The Florida Intestacy Statute is used by the court to determine how your property and assets will be distributed, and to whom.
Ronald L Sims, P.A., represents the legal rights and goals of those involved in last will and testament, or other estate law issues or disputes in Orlando and the Central Florida area. For a confidential legal consultation, please call 407.843.5885.
Having a Testamentary Will is an important tool for any family, regardless of the size of their estate. It provides the ability to make sure your family and loved ones are made fully aware of your wishes regarding your property, assets, and other relevant issues which otherwise would only add to the hardship of your passing.
Last Will and Testaments may be a Simple Will, or a Complex Will, depending upon the issues involved with your estate.
A Simple Will gives you the tools for identifying heirs, distributing property, creating trusts, choosing a guardian, trustees and personal or administrative representatives regarding your estate, children, other family members, or entities of your choosing.
A Complex Will addresses the same issues as a simple will, but in a more complex and detailed manner. Complex wills often address various factors such as multiple properties or land ownership, investment portfolios, estate tax planning, administration or creation of one or more trusts, retirement accounts, business interests, life insurance policies, and a number of other issues.
Complex Wills are not only for those with large estates, as even the smallest estate may deal with complex issues.
It is also important that an individual who moves from one State to another has their Last will and Testament Documents reviewed to ensure it is in compliance with that State's Technical Requirements and/or State Laws. If your Testamentary Will is not in compliance, the Will may be deemed invalid in your new State.
If you have questions, concerns, or legal needs regarding last will and testament and other estate law issues, we urge you to seek the legal advice of experienced legal counsel.