Common Questions and Misconceptions About Wills

Many individuals avoid or delay creating a Last Will & Testament because they are uncertain or misinformed about what the process entails or whether it is even necessary for them and their family. At Skates Uhrik Vasquez Law, we pride ourselves in taking the time to provide clarity and understanding to our clients, so that they can be confident that their estate planning needs are met. Below, we have provided brief responses to some of the questions and misconceptions about wills that we commonly encounter:

“I don’t really own much, so I don’t need a will.” / “I am still pretty young, so I don’t need a will yet.”

There is no minimum amount for creating a will. Whether the estate you leave behind at your death is worth $5,000 or $500,000, a will that is carefully prepared and properly executed can ensure that every cent ends up in the hands that you select, not just the next person in line on your family tree.

Similarly, there is no “right age” to create a will. Although we all hope to live long, happy lives, we know that tragedies happen without warning. In the estate planning world, we are never concerned with “too soon,” but we are always avoiding planning “too late.”

Further, if you are at an earlier phase of life, during which you are still earning and have the possibility to earn (and save) for many years to come, there is a good likelihood that your estate will increase in value throughout your lifetime. A will can be drafted in a manner that will adapt to those changes, and it can always be revised down the road if it no longer fits your circumstances.

“Having a will means my family won’t need to go to probate court to inherit my estate, right?”

Not quite. A will provides a set of instructions for distributing your estate. However, that set of instructions is for the probate court, not your family or other beneficiaries. If the assets owned by you at the time of your death do not have joint owners or contractual beneficiary designations (like a pay-on-death designation for a checking account), then those assets will likely be made payable to your “estate.” To get those assets out of your estate and into the hands of your intended beneficiaries, the probate court will need to get involved. For more information on that process, click here.

There are various methods available to avoid probate, and the team at Skates Uhrik Vasquez Law is happy to discuss which of those methods may be right for you.

“I don’t want my family to inherit everything right after I die! Can my will include instructions for holding money for my kids or grandkids to receive throughout their lifetimes?”  

Yes, but those types of instructions will result in the creation of a testamentary trust, which is governed by different statutes and rules. Our team at Skates Uhrik Vasquez Law is well-versed in the creation of all kinds of trusts, and we can walk you through the benefits of using such a tool for estate planning and help you determine whether a separate trust agreement may be more appropriate for your needs.

“I just told my family what I want to happen when I die. I don’t need a will.”

Even if your family members plan to follow your wishes, they may be limited in their ability to do so. For example, if you tell your two kids to sell your house after you die and split the proceeds, or to share the balance of your checking account, they will not automatically be able to do so. Why? Upon your death, those assets may belong to your “estate.” If that is the case, a dutiful son or daughter, even with the best of intentions, cannot step in to distribute those assets without first being named personal representative of your estate and proceeding through the Court. Any bank employee or realtor will likely greet them with the phrase, “You need to go through probate.” A will that is well-drafted can help ensure that your wishes are honored by the probate court.

“What if I don’t want to leave anything to my family and friends? Do I need a will then?”

Yes, because without a will, the probate court will just go through the branches and roots of your family tree to locate the closest relative to inherit your estate. So if your next closest blood relative is that one cousin who you haven’t spoken to in years, that cousin very well could inherit everything you own.

How can you avoid that? Well, we can walk you through the process of selecting one or more charitable institutions to name in your will as beneficiaries. We are always happy to help you find an organization that is particular to the charitable causes that interest you.

“Do I really need an attorney to prepare my will?”

It isn’t mandatory to have your will prepared by an attorney, but the team at Skates Uhrik Vasquez Law can assist you to make sure that your will includes all the necessary language, successfully distributes your entire estate, is properly witnessed and executed, and avoids any confusion or dispute.

“I already have an old will from another state. Won’t that work in Florida?”

Not necessarily. As stated above, we recommend that a Florida attorney review that out-of-state (and possibly out-of-date) will to ensure that it will be accepted by the Court in Florida upon your death.

“Do I need to update my will every time something changes in my life?”

That depends. We will do our best to prepare a will that plans for various circumstances, both expected and unexpected. However, when major life events occur, such as a death, a divorce, or a family dynamic shift, it is a good idea to check in with an attorney to make sure there is not a revision that should be made.

If you and your loved ones have been thinking about creating an estate plan, but you aren’t sure where to begin, don’t delay any further. Take the first step by contacting Skates Uhrik Vasquez Law to start the conversation about your estate plan today.