Attorney L. Reed Bloodworth is the managing partner of Bloodworth Law with offices in Orlando, Florida, and Winter Haven, Florida.
Who Needs Estate Planning?
There is only one answer to the question who needs estate planning? Everyone needs estate planning.
Estate planning is a legal process that creates legal documents and plans for your family and your heirs, and tells the Florida courts what you want to have happen to your assets and your children, if you become incapacitated or if you die.
You have to create legal documents that are filed with the Florida courts and with an attorney to ensure that the plans are carried out. The instructions describe what happens with personal property, real property, titled assets and digital assets, your children.
Many people believe that if they just create a will that says, I am going to leave everything to so and so, that now they don’t have to go through probate. But that is not true.
Wills Do Not Avoid Probate
Wills do not avoid probate. Trusts avoid probate, but wills do not.
What is Probate?
Probate is the legal court process that used to identify, gather assets of a decedent, pay debts and distribute assets to beneficiaries.
You don’t have to be wealthy, but if you have children or any assets, you’ll want to be sure that that your exact plans are followed by the courts as to how you want your children to be cared for and your belongings distributed.
Attorney Reed Bloodworth is the managing partner of Bloodworth Law. When you’re ready to make plans for you and your family’s lives, talk to Reed about how Bloodworth Law estate planning can help you or your family.