Wills & Trusts
Florida is a Probate state – which means that whether a person dies with a Will (testate) or without one (intestate) a Probate proceeding is required. However, a Will that complies with all the formalities required by Florida law and admitted to Probate court by the Judge may help avoid family disputes as the Judge will distribute assets according to your wishes according to the Will. A Will and testament is a legal document which must be drafted according Florida law in order to be admitted to Probate after the passing of the testator. In the state of Florida, the Will is executed by a testator (person who is executing the Will), who must be at least 18 years old, to ensure that your personal property, finances, real estate, and other belongings are appropriately distributed to the beneficiaries of your choice. This document allows the testator to protect their spouse, children, friends, and other family members. They can also choose to donate a portion of their estate to any charity or organization of choice.
Although Florida state laws do not require a person to execute a Will, it does help the testator determine in their capacity and choice how they wish to distribute their assets distributed after death, which may not be the case if the person dies intestate and assets are distributed by intestacy statutes as these laws may not always coincide with the wishes of the deceased, which is why we recommend that you speak to an attorney for a consult to create a Will.
A Will does not avoid Probate. Therefore we recommend you speak with an attorney to determine what is best for you and your family. To simplify this process, we offer personalized services so you can feel at ease when taking this important step. Simply give us a call at our Orlando office we’d be happy to help.
One of the main benefits of establishing a Will is that it allows the testator to choose a personal representative (a person that will act on your behalf) to take care of the remaining obligations. This person is responsible for carrying out the wishes contained in the Will, if that person is eligible under Florida Law.
A trust is a multiple party fiduciary relationship by which one person, known as the trustor or settlor, transfers control of certain assets and property to a second person, known as the trustee, to hold or manage said property for the benefit of a third party, the beneficiary. A trust affords benefits not available through a simple will. There are many benefits in setting up a trust, such as tax benefits, and being specific in what, when, and how you would like your assets managed and distributed, among others.
However, although there are many reasons why someone may decide to start a trust, the main advantage of a trust is that it avoids probate. Without a trust, the transfer of assets to heirs occurs through a will or intestate proceeding. Both of these require a Probate legal proceeding that can cause delays in the transfer of property and be very costly. If there is no will, the transfer of assets occurs under the intestacy laws of Florida or the jurisdiction of the deceased’s place of residence through a probate process.
A trust can be established for the benefit of a person, children, a group of people or for a specific purpose, such as giving it to a charitable organization.
At the Law Offices of Gretchen Ortiz,
we understand the pain families go through once they’re loved one is gone. We also know that your wishes would be to have your loved ones navigate this painful process with ease. Therefore we are here to advise you and help you get everything in order to ensure your loved ones are taken care of. We assure you that we will be here to help you and your loved ones along the way.
So, call us,
we are the right choice!
Contact us today for wise counsel in matters of wills. Our law firm proudly serves clients in all of Central Florida, including Orlando and the surrounding cities.