A Will is your declaration about how your Estate is to be administered and distributed after your death. Whether a Will is valid depends on the state, as the rules governing Wills and their administration are issued by each state. It is important that your Will and Estate Planning are prepared by a Florida attorney familiar with the laws which will control to ensure that your wishes for your family will be upheld.
Trusts are often used in addition to or in lieu of a Will. There are different types of Trusts, with differing benefits. Trusts may often provide the benefit of avoiding or minimizing the need to Probate an Estate. Trusts may be helpful for persons with property outside the state, or who would like to create and provide a stream of income to a Beneficiary over time, instead of a lump sum payment. Trusts may also decrease the costs associated with Probate, decrease tax consequences arising at death, and allow charitable organizations to benefit.