Wills & Trusts
The last will and testament is a legal document, which must be drafted according to the formalities required by Florida law. In the state of Florida, the will is executed by a testator (must be at least 18 years old) to ensure that your personal property, finances, real estate, and other belongings are properly distributed to the beneficiaries of your choice. This document gives the testator the ability 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 it is not required to create a will, when a person dies without one, Florida state laws will determine how the assets are distributed. However, these laws may not always coincide with the wishes of the deceased, which is why we recommend that you create a will.
To make this process simple, we offer personalized services so you can feel at ease when taking this important step.
- Simple Will
- Will Package
One of the main benefits of establishing a will is that it allows the testator to choose a personal representative to take care of the remaining obligations (executor). This person is responsible for carrying out the wishes contained in the will, as long as that person is eligible.
A trust is a multiple party fiduciary relationship by which one person, known as 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, being able to be 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 either through a will or by intestate proceeding. Both of which require a Probate legal proceeding that can cause delays in transfer of property and can also 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 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.