Did you know that if you die without a will in the state of Florida, the distribution of your assets will be determined by the laws of intestacy? Under Florida law, the assets will be distributed to the deceased person’s spouse and/or children, if any. If the deceased person is unmarried and has no children, the assets will be distributed to the deceased person’s parents, siblings, or other relatives.
When a person dies with a spouse, and either the decedent or the surviving spouse has children from a prior relationship, the result is typically that the surviving spouse receives 50% of the estate, and the children receive the other 50%.
When a person passes away intestate, the court will appoint a personal representative to manage the estate and distribute the assets of the estate, as overseen by the court. Unfortunately, this can lead to a distribution of assets that is different from what the deceased person would have wanted, and can also lead to disputes among family members.
Additionally, if you die without a will in Florida, your estate will be subject to probate court, which can be a long and costly process. This can also delay the distribution of assets to your loved ones.
It is important to have a will, even if the estate is small, to ensure that your assets will be distributed according to your wishes and to avoid disputes among family members and the probate court in Florida. It is highly recommended to consult with a Florida estate planning attorney familiar with Florida laws to ensure that your assets will be distributed according to your wishes.
Our estate planning law firm takes a very different approach from what you might have come to expect. Our goal is to create lifelong relationships with each of our clients, to guide and manage your legacy for the rest of your life. Please contact our offices in Stuart and in Palm City to learn more.