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The Side Bar – Volume XI, Issue 11

The Side Bar – Volume XI, Issue 11

November, 2014

 

From Lenny’s Corner

With Thanksgiving around the corner, I look forward to a few days away from the office and time with my family. It’s easy to get wrapped up in life’s daily stresses, so I feel very lucky that every year I’m reminded to slow down, give thanks, and enjoy my family and friends over a good meal. I wish all of you a Happy Thanksgiving and hope you enjoy some quality time with your loved ones!


A Glimpse At Wills

Many people avoid estate planning like they avoid the doctor. No one likes lying about their diet, multi-vitamin intake, and exercise habits to escape a judgy look and disapproving notes in their file. Similarly, planning what happens to your assets after you die is a bit uncomfortable, but just like going to the doctor it must be done.

A Few Things To Know About Wills

Without a Will, Florida law dictates who inherits your assets and it may not turn out how you thought. Under Florida law, a surviving spouse does not always inherit complete title to the family home. For example, if a couple married, moved into the wife’s premarital home but the wide never put her spouse on the deed before she died, the surviving spouse would not necessarily inherit full title to the home if there are minor children. Although a Will ensures your property is disposed of according to your wishes, it will not dispose of jointly held property or assets held in trust as well as insurance death benefits, IRA or 401K accounts or accounts that are set up as payable on death to a designated person or persons, so it is important to look at who your beneficiaries are and make sure they are in line with your wishes.

What Now?

This article is only comprised of a few tidbits about Wills and the importance of estate planning because there are so many unique factors to consider on an individual basis. It is important to discuss estate planning in detail with your attorney to make sure your intentions are carried out. Should you have any further questions regarding estate planning, please contact Englander Fischer to see how one of our attorneys can assist you.


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