Navigating the aftermath of a loved one's passing can be complex, particularly when they leave no last will and testament.
Without a will, Florida's intestate succession laws come into play. Sections 732.101–.109 of the Florida Statutes sets forth the default distribution method process in Florida:
- If there's a valid marriage to a surviving spouse, that individual receives everything. However, if there are children from a previous marriage, the estate would be divided between them and the surviving spouse.
- Without a spouse, biological or legally adopted children become the prime beneficiaries. Stepchildren aren't eligible. If a child dies before their parent, then a grandchild may inherit a portion of the estate.
- Without a spouse or children, the decedent's parents are next in line to inherit the estate.
- Finally, if these heirs aren't alive, the deceased's siblings or other closest relatives are entitled to the estate.
If you have any additional questions about how your loved one's assets may be distributed without a will, contact an estate planning lawyer in Tallahassee who can walk you through the process step by step.
Three Major Problems of Dying without a Will
A host of problems can arise; however, this blog will focus on three issues that may come up if you were to die intestate (without a will).
1. No Guardians Named for Minor Children
2. Unintended Consequences for Those Inheriting your Assets
3. Your Loved Ones Must go Through Probate to Receive your Assets
The importance of consulting with a Tallahassee estate planning lawyer cannot be overstated to understand the consequences of dying intestate (without a will) in Florida.
Without a Will, You lose Control over who Would Serve as Guardian(s) of your Children
Even if you do not think you have enough assets to warrant an estate plan, if you are a parent of a minor child, you need to, at a minimum, nominate guardians for that child in a Will. Estate planning isn't just about how to distribute your assets when you pass away, especially if you are a parent of minor children. Estate Planning is also critical in ensuring your child's emotional and physical well-being in unforeseen circumstances, including who will care for them in your absence.
If there's no surviving parent, family members, or other interested parties can petition the Court to be appointed as the child's guardian. Section 744.3021 of the Florida Statutes allows a parent, brother, sister, next of kin, or other person interested to petition the Court. This is a broad list of people who can petition the Court, which only highlights the importance of making sure you nominate a guardian, not only because you should decide who takes care of your children but also who should not take care of your children. Check out our blog post for a more detailed analysis from our Tallahassee Estate Planning Attorney.
It may be Dangerous or Counterproductive for Someone to Unintentionally Receive Your Assets
In some circumstances, dying without a will and, therefore, triggering Florida's intestacy scheme can cause serious harm, as a beneficiary may not be ready to receive their inheritance. For example, while the courts may grant the estate to your surviving children when they turn 18, we've seen dire consequences of beneficiaries receiving their inheritance too young and without financial guidance. Conversely, some older heirs receive these assets while on Medicare, which has different complications and potential dangers. This situation can easily be avoided through thoughtful estate planning and simply designating your beneficiaries in a last will and testament or revocable living trust.
Without a Will, Your Estate Will Need to go Through Probate
If you do not have a Trust, your estate generally must undergo a probate process where a court administers the distribution of your assets. This is often time-consuming and very expensive for your loved ones. Furthermore, probate records generally become a matter of public record and can be viewed by nearly anyone with an internet connection. For a more detailed analysis of the costs of Probate, explore our blog post from a Tallahassee Estate Planning Attorney.
Why You Need an Estate Planning Lawyer in Tallahassee
A knowledgeable estate planning lawyer can provide crucial advice on estate planning to avoid the uncertainties of intestate succession. They can help you understand how to protect your estate and ensure your wishes are honored.
Dying without a will in Florida means letting state laws dictate the future of your estate. To secure your legacy and protect your loved ones, consult an estate planning lawyer in Tallahassee. Don't leave your estate to chance or how the legislature decides your estate should be administered. Contact a trusted estate planning lawyer in Tallahassee today to craft an estate plan that reflects your wishes and secures your family's future.
