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Greetings
Writing a Will
Wills and Trusts

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Orlando, FL. 32814 
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 April 2013

Wills

 

 


     A Will is a legal document that sets forth one's wishes regarding the distribution of property.  There are many types of Wills:

    

     The traditional is called a testamentary Will.  This is a formal document prepared by an attorney and is signed in the presence of witnesses.  A holographic will is written without the presence of witnesses and rarely holds up in court. Oral Wills are spoken testaments given before witnesses, however, are not widely recognized from a legal perspective.  If the legal requirements are not met, then the Will can be voided or invalidated in Court.

   
     In fact, besides protecting assets, a Will covers several other aspects of life such as minor children and family heirlooms.  To clarify, a Will dictates sole discretion over the distribution of belongings such as cars, assets, businesses, family heirlooms, and investments and directs a smooth transition of those assets.  There are several assets that are not covered by the instructions of a Will which include proceeds from life insurance policies, retirement assets, assets owned as a joint tenants with rights of survivorship, and investment accounts that are designated as "transfer on death".

     Furthermore, a State may oversee the distribution of assets if a Will is not found. Many people believe that without a Will the State inherits assets. However, the State distributes the assets according to a set formula which results in half of your estate going to a spouse and the other half to children. In addition, if the children are minors the court may appoint a representative to look after their interests. 

 

     Most importantly, age does not dictate the creation or need of a Will. This depends on the individual, personal wishes, and assets. In order to prepare a Will, compile a list of assets and debts. Include any safe deposit box contents, items of sentimental value, family heirlooms, and any other assets to transfer to a particular person or entity.  Making a Will is a simple and necessary process that can save time, money, grief, as well as give a peace of mind.  If you have any further questions about Wills or would like to create one please do not hesitate to contact me.




Sincerely,
  


Tushaar Desai
Desai & Maya, PA

1540 Lake Baldwin Lane

Suite B

Orlando, FL. 32814

Tdesai@Lawyer.com