You might be a lifelong Florida resident or one of the thousands who have retired to this state or moved here to live in a warmer climate. Either way, it’s good to know what type of resources are available to provide strong support to you and your family regarding important life issues and events. For example, there may come a time when you wish to execute an estate plan. While you can create a plan on your own, it’s always best to seek estate planning and probate guidance from someone knowledgeable about the laws of this state.
The estate planning process is, of course, something to carry out while you are alive and sound of mind. Probate, on the other hand, refers to a legal process that occurs when you die and whether you have a last will in place. If you do not, then your estate becomes “intestate,” which means a probate court judge determines how your assets will be distributed according to the Florida laws of intestacy. If you want to choose your own beneficiaries, then it’s best to execute an estate plan early in life, or, at least while you’re still able to demonstrate testamentary capacity.
Make sure you understand estate planning and probate terms
Testamentary capacity is one of many legal terms associated with estate planning and probate law. It basically means that when an individual signs a will, he or she has demonstrated full understanding regarding the value of his or her estate, as well as the purpose and implications of executing a last will. You should understand the legal terminology of the estate planning and probate process, which is why it’s best to seek experienced guidance so that you can ask questions and seek clarification as needed.
Changing and updating an estate plan
Periodically reviewing and updating your plan is a critical aspect of the estate planning and probate processes. Legal problems could arise, for instance, if you divorce your spouse and remarry, but forget to remove your ex’s name and add your new spouse’s name to your will or retirement accounts or insurance policies. Pilka Adams & Reed, PA provides strong support to those who are navigating the Florida estate planning or probate process. You can call the office or use the online contact form on their website to schedule a confidential consultation.
