Buckner continues its educational series on wills, trusts and other estate planning issues with an explanation on what can one do with a will:
The March 2014 version of The Florida Bar pamphlet, “Do You Have a Will?”, explains a numerous ways a will can be used by an individual:
- A person can decide who gets his or her property instead of the law making the choice for the person.
- A person may identify the personal representative (or known as the executor) of their will as selected, provided the one named can qualify under the law of the applicable state. In Florida, a “personal representative is one who manages an estate, and it may be either an individual or a bank or trust company, subject to certain limitations”.
- A trust may be created in a person’s “will whereby the estate or a portion of the estate will be kept intact with income distributed to 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”.
- “Real estate and other assets may be sold without court proceedings”, if a person’s will adequately authorizes it.
- A person may designate gifts, which are effective at or after their death or to charity.
- A person can “decide who bears any tax burden, rather than the law making that decision”.
- “A guardian may be named for minor children.”
Every week Buckner offers the following deals:
- Wills on Wednesdays: Clients who retain Buckner and pay the initial consultation fee or installment payment on Wednesdays receive a 10% discount on a will package.
- Trusts on Tuesdays: Clients who retain Buckner and pay the initial consultation fee or installment payment on Tuesdays receive a 10% discount on a trust package.
To discuss your estate planning needs, call (+1-954-941-1844) or email (firstname.lastname@example.org) attorney Michael Buckner for a consultation.
Source: “Do You Have a Will?”, The Florida Bar (March 2014), available at: http://www.floridabar.org/tfb/TFBConsum.nsf/48e76203493b82ad852567090070c9b9/a0091ab18d4875d085256b2f006c5b75?OpenDocument