Busting The Most Common Myths About Florida Probate
Probate is a judicial procedure in which a will is ‘proved’ and a deceased person’s estate is administered. Many people know this but without having gone through the process, it can be quite confusing. There are many myths about the probate process out there and unfortunately, many people believe them. It is important to know the truth about the probate process, so that your property is distributed in the manner you wish. To ensure you and your family are protected, our Daytona Beach probate lawyer outlines the most common myths and the truth behind them.
Drafting a Will Eliminates the Need for Probate
Writing a will has many benefits for you and your family, but it will not help your family avoid the probate process. In fact, the first step during probate proceedings is submitting the will to the court to make sure there is proper distribution of the estate. Drafting a will does make the probate process easier and faster, but it does not eliminate it entirely.
You Have Complete Control Over the Assets in Your Will
You have a great deal of control over how your assets are divided among your beneficiaries in your will. However, there are laws regarding estate planning and how your property is divided. For example, if you leave your spouse less than 30 percent of your estate, they can override your wishes by opting for an elective share.
Intestate Succession Laws Make Wills Unnecessary
If you pass away without a will, the intestate succession laws of the state will dictate how your property is divided. Many people think that because of these laws, creating a will is unnecessary. This is not true. For example, if you have a spouse but no children, your spouse will inherit everything if you pass away. If you have a charity you want to donate to, or you have other beneficiaries in mind, they will not receive anything if you do not have a will that expressly states your wishes.
Creating a Trust Avoids the Need for Probate
It is true that if you create a trust, any property contained within it does not have to go through the probate process. However, it is rare that every asset a person owns is placed into a trust and property not within a trust must go through probate.
Probate Takes Many Years
No one can determine the exact timeline probate will take for a specific estate. Some estates only require a few months of probate while others can take up to one year. It is rare, however, for the probate process to take more than one year.
You Do Not Need an Estate Planning Lawyer in Daytona Beach
There are many templates and forms you can find online, but these are not going to give you the legal advice. At Bundza & Rodriguez, our Daytona Beach estate planning lawyer can provide this advice and help you draft a plan that adequately protects you and your family. Call or text us now at 386-252-5170 or chat with us online to request a free consultation.