Why having a Last Will and Testament can be so important Part 2

| Mar 24, 2011 | Announcements, General, Law Articles, Local News |

I am writing again about the importance of having good and up to date estate planning documents. I got a call from a client needing to probate a relative’s estate this morning. The decedent was not married and had no children. However, she had 9 brothers and sisters. Many of the brothers and sisters were now deceased. Under the intestate statute of Florida law if the deceased siblings had children then their share of the estate would be split between their children. Therefore, this estate will now be split between 35 different beneficiaries.

The main asset is homestead property. The beneficiaries are spread out all over the world. Additionally, there is a lot of discord in the family. This will make managing this estate very difficult. Now the homestead will be owned by 35 different people who will all have to agree on what to do with it.

This could have all been avoided had the decedent gone to see an estate planning attorney to provide for what would happen to her assets when she passed away. If we can help you “get your house in order” call us.