What Is A Will?

A will is a set of written instructions for the distribution of your property when you die. It may also include instructions regarding the handling of your remains although this is not required. During your lifetime, a will does nothing. Upon your death, a copy of your will is filed with the local court and probate proceedings are started, if necessary. Your will names your Personal Representative. If you have minor beneficiaries, disabled beneficiaries, a taxable estate, or certain other situations, then your will may also include a trust naming a trustee for the management of the property for the benefit of those named.

Florida Statute section 731.201(39) defines a will as

an instrument, including a codicil, executed by a person in the manner prescribed by this code, which disposes of the person’s property on or after his or her death and includes an instrument which merely appoints a personal representative or revokes or revises another will.

You can’t get much more basic than that.

Copyright Notice: All Rights Reserved Harry Thomas Hackney, P.A. 2007

Do I Need A Will?

This is probably the most frequently asked question for any estate-planning attorney. Anyone with any property at all, whether real or personal, or with children ought to have a will. Even a person who has nothing may be instantly worth a large sum of money at death, if they are killed through someone else’s negligence or are well insured. For a divorced person with minor children, a will eliminates arguments over who will manage any assets or money left to the children (e.g., an ex-spouse). If you do not have a will, then the state decides who gets your property. In addition, the court will decide who will be your Personal Representative and it may be necessary for that Personal Representative to obtain a bond at the expense of the estate. If you prepare a will, then you can direct that the bond be waived.

Copyright Notice: All Rights Reserved Harry Thomas Hackney, P.A.