THE IMPORTANCE OF A VALID WILL

Wills are an important part of an effective Florida estate plan. A validly executed will identifies who will inherit the estate planner's assets. Beneficiaries named in a will may include spouses, children, grandchildren, a charitable organization or others.

Having a validly executed will can be important for a variety of reasons. This includes that a will may be used to name a guardian for any minor children of the testator, or the person preparing the will, and can avoid the unwanted distribution of property without a will.

Without a will, state laws will generally determine how property is distributed, which may not reflect the estate planner's wishes. It also may not provide important protections for children from a prior marriage.

Additionally, a will that is not valid may not provide protections and peace of mind to the estate planner and the estate planner's family. In general, for a will to be valid, it must be validly executed. A valid will typically requires that the testator is at least 18-years-old; the testator is of sound mind; the document is typed, except when a handwritten will is allowed; the document states that it is the testator's will; the will has a provision disposing of property or appointing a guardian for minor children; the will appoints an executor; and the will is properly signed in front of witnesses.

The requirements for a will can vary by state, so it is important to be familiar with the requirements in the state where the testator is executing the will. It is also important for them to be familiar with requirements for witnesses and any other requirements. In some states, a will may be handwritten, which is referred to as a holographic will, so it is also useful to understand in what circumstances a holographic will may be allowed.

Preparing a will is an important part of an effective estate plan, as is updating a will as circumstances and life change. The legal process provides a variety of estate planning resources estate planners should be educated concerning, so they can consider the estate plan that is best for them.

Please reach out to us at 141 5th Street NW, Suite 300, Winter Haven, Florida 33881 at 863.294.1114.

Established in 1991, Rignanese & Associates is available to work with clients on their legal needs.

On behalf of J. Kelly Kennedy, Attorney/CPA, PLLC, which has been acquired by Rignanese & Associates, PLLC.

Source: Estate.FindLaw.com, "Making a Will FAQs," accessed on July 24, 2017