Will & Trust Attorneys in Hillsborough County

Protecting Your Legacy for the Future

Planning for the future is one of the most important ways you can protect your assets and ensure your loved ones can grieve your loss without having to make major decisions or deal with complex legal requirements. Both wills and trusts can be key components of a comprehensive estate plan, and our firm can help you create customized documents that reflect your final wishes and offer peace of mind to your family.

If you need to create a will or you are not sure if a trust should be part of your estate plan, call Osenton Law Group, P.A., at (813) 322-5958. We can review the documents you currently have in place, if any, and determine the right path forward.

Why Do You Need a Will as Part of Your Estate Plan?

A last will and testament is the foundation of your estate plan. It determines who will serve as your estate’s personal representative and who will inherit your assets. If you have minor children, you can also name your preferred legal guardian here. Having a will means you can control what happens to your assets and who is responsible for managing your estate after you pass. Without this document in place, the state will make all these decisions, which may not align with what you want.

What Is Required for a Legally Valid Will in Florida?

Florida has strict requirements for wills to ensure that they are legally valid. The person making the will is called the testator. In Florida, the will must be in writing and signed by the testator and two witnesses. The testator must also be at least 18 years old. or be an emancipated minor. and have testamentary capacity.

It is this last requirement of testamentary capacity that can open the door to challenges later on. At its most basic, testamentary capacity means that someone understands what they are doing and what will happen as a result of their decisions. They need to understand what assets they have, who they are naming as heirs, and what happens when they sign a will.

It’s common for there to be disputes about whether someone had testamentary capacity when they signed the will if the heirs disagree with the decisions. If this is something you’re concerned about, an attorney can talk with you about what steps you can take to document testamentary capacity to reduce this risk.

What Happens If You Don’t Have a Will?

When someone dies without a will, their assets still need to be distributed, and someone still needs to be named as personal representative for the estate. Without a will outlining the deceased’s wishes, the state steps in. A personal representative will be appointed. In some cases, this may be a family member if they want to serve in the role, but it’s also possible for the state to appoint a professional personal representative who has no previous knowledge of you, your assets, or your family members.

The state will also distribute any remaining assets after the estate is settled according to the intestacy laws. In most cases, the assets will go to the closest remaining family members, such as a spouse or children, but situations like blended families and complex dynamics can make this more challenging to determine. If you want to maintain control over these decisions and ensure your wishes are known, you need a will.

What Are the Benefits of Using Trusts in Your Estate Plan?

Trusts are one of the most valuable tools in estate planning, but many people believe they are only for those who have extreme wealth. This isn’t true. Many of our clients can benefit from using trusts, and there are multiple options available, including irrevocable trusts, revocable trusts, and specific trusts like special needs trusts or charitable trusts.

The primary benefits of using trusts in your estate plan include the ability to have greater control over what happens to your assets after your death and the potential to avoid probate and provide some tax planning benefits. It’s essential to work with an attorney to determine which type of trust suits your needs. For example, only irrevocable trusts offer tax benefits. Our firm will talk with you about your goals for your estate and explain the options available.

Contact Osenton Law Group, P.A., at (813) 322-5958 to find out how we can help those in Hillsborough County plan for the future.