Yes you need a will.

The simple answer is yes. Even if you have a revocable trust and/or all of your assets are either held as joint tenants, or tenants by the entirety, or you have properly designated beneficiaries on your bank accounts, retirement plans, life insurance policies, etc., a will is used to serve as a back up for any property you may have neglected to address by your other planning methods.

I living will helps your beneficiaries

Additionally, a will can serve to dispose of properties you unexpectedly acquire before death, or even through a lawsuit which is litigated posthumously. If a revocable trust is the main planning document you have used, I will most likely draft a pour-over will for you which will devise all of your property to the revocable trust you have established so that your property can be distributed by the successor trustee you have named in the trust and according to the terms of the trust.

Don’t leave your assets to the State

If you do not have a will and you have not otherwise effectively titled your assets or properly designated beneficiaries on your financial accounts, real property (possibly through a lady bird deed) upon death, your assets will be administered in accordance with Florida’s intestacy (intestate means without a will) statute. While this statutory scheme may have replicated how you would have decided to leave your property (example. -everything to my children) in some circumstances it will have unintended consequences and your property could be inherited by individuals you intended to exclude, had you had a will drafted.

Hire Matthew Schneider Law

If you need a will drafted, consult with an attorney who will draft your will after reviewing any other planning documents you have already created, and after you have provided the attorney with a list of your assets, how those assets are titled, and any beneficiaries you have named. Armed with this information, the attorney can then properly draft a will for you that coincides with the remaining portions of your estate plan.

CategoryLegal Blog