Stuart Wills, Trusts & Estates Lawyer

Estates can be highly complex. Hiring a Stuart wills, trusts & estates lawyer can help you navigate the accompanying legalities of managing an estate, assets, and more.

Wills, trusts, and estates can be complicated and confusing for many people. Often clients tell us they are unsure of the best way to protect their assets, ensure their children’s financial future, or ensure their wishes are carried out when they pass. Others are worried about who will make health care decisions in the event that they become incapacitated. At Apfelbaum Law, our Florida estate attorneys are experienced in helping people with wills, estates, trusts, and other estate planning needs, and we are always happy to answer questions for our clients.

What Happens When There Is No Will or Descendants?

When a person dies without a will, or intestate, in Florida, the state has a complex set of rules it follows to distribute assets. Generally, they will search for any living relatives. Spouses and children are given priority. If the individual has no descendants, the spouse receives the entire estate. If there are descendants, the spouse receives half the estate and the rest is divided among the descendants. In the event that the deceased was unmarried, the estate is divided among the descendants.

When the decedent has no spouse or children, the entire estate is left to his or her parents. If the parents are also deceased, the estate will be divided among the deceased’s siblings. In the event that there are no surviving parents or siblings, the state will seek out any other relatives, such as aunts, uncles, and cousins, and distribute the estate among them. If no living relatives can be found, the estate will pass back to the state of Florida, assets will be sold, and the proceeds will go to the state school fund.
Many people would prefer their assets be distributed differently, and writing a will can help them do this.

Setting Up a Trust

Some people may also consider setting up a living or revocable trust. This allows you to transfer ownership of some assets into a trust, while still using them. Most people make themselves the trustee of the trust they set up. Then when they pass on, the assets in the trust are divided among beneficiaries. Trusts are most beneficial for large estates worth more than $75,000, because assets in a trust do not go through probate.

When you create a trust, your Florida estate attorney can help you transfer many types of property into it—real estate, business interests, stocks, bonds, bank accounts, and valuables like art or jewelry. However, retirement accounts cannot be placed in a trust. Your home usually is not eligible, although in some cases special language in your trust may allow for it. Your Florida estate attorney can advise you on your options if you have concerns about your home.

People who create a trust generally make themselves the trustee, the person who manages the assets. A couple creating a trust for their children will usually be co-trustees. In both cases you will want to name a successor trustee, who will distribute the assets in the trust in the event that you, or both you and your co-trustee, die or are incapacitated.

After you have passed, all assets in the trust will be distributed in the manner you have determined. Unlike probate, this is a private process, so it is useful if you do not want anyone to know how your assets are distributed. In some cases, language in the trust documents may help beneficiaries avoid some estate taxes, as well. A Florida estate attorney can help answer questions about estate taxes.

If you have questions or concerns about wills, estates, trusts, or other Florida legal services, please contact Apfelbaum Law for a consultation. We can be reached at 772-236-4009, or contactus@alawfl.com.