Did you know that if you fail to plan for what happens to your assets when you die, the State of Florida will do that for you? When this happens, there is a high potential that it may not align with whom you intended to receive an inheritance – whether it be the funds from your bank accounts, the home or land you own, the funds of a life insurance policy or retirement plan…the list goes on.
If you were in a blended family situation at the time of your passing, there are rights for the surviving spouse on the books, such as the right to reside in the homestead property, that could frustrate your current plan or intent as to who should inherit your property -even if the subsequent spouse’s name is not in the deed to the homestead property.
The most frequent statements we hear from prospective clients are:
1. I don’t have an estate.
2. I thought estate planning was only for the wealthy.
3. I already have a Will in place, so a probate won’t be necessary.
All of these statements are false! Everyone has an estate. You do not have to be wealthy in order to have an estate or to plan for what happens to your assets when you die. And, unfortunately, a Will does not always avoid probate! Join attorney Roberta O. Getzan for this virtual workshop and gain insight into the top 12 truths you’ll want to know about estate planning.