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A Common Question I am asked is What is accomplished by a Will?

by | Mar 11, 2014 | Estate Planning |

A common question I am asked is how is a Will beneficial or what can be accomplished by a Will? The Florida Bar states:
“1. You decide who gets your property instead of the law making the choice for you.
2. You may name the personal representative (executor) of your will as you choose, provided the one named can qualify under Florida law. A personal representative is one who manages an estate, and may be either an individual or a bank or trust company, subject to certain limitations.
3. A trust may be created in a will whereby the estate or a portion of the estate will be kept intact with income distributed or accumulated for the benefit of members of the family or others. Minors can be cared for without the expense of proceedings for guardianship of property.
4. Real estate and other assets may be sold without court proceedings, if your will adequately authorizes it.
5. You may make gifts, effective at or after your death, to charity.
6. You decide who bears any tax burden, rather than the law making that decision.
7. A guardian may be named for minor children.”

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