Death can be an uncomfortable and overwhelming subject to discuss, but it’s vitally important to plan to ensure the future of your assets. If you don’t make a will before passing away, the Florida probate code will determine where your money goes after death. Hiring an estate planning attorney or using legal services like those offered at Dorcey Law Firm can help turn this difficult and complex process into a simpler and less stressful one. In this blog post, we will explore what happens to a deceased person's bank accounts in the absence of having made a will and how an attorney can help protect these assets after death.
What is A Will, and Why Do People Need One?
A will is an essential legal document governing how a deceased person's assets and property should be distributed upon death. It may also outline the decedent’s wishes regarding their funeral arrangements and property dispersal. Without a will, beneficiaries have no clear indication as to what the wishes of the deceased were. The absence of a will can leave family members or other beneficiaries vulnerable to potential disputes over an estate once its owner is gone. Furthermore, in some states, any property not specifically addressed in a will automatically goes to the state, meaning significant assets may be lost if a will isn't executed properly. To ensure that your wishes are known and respected after passing away, it is important to consider creating a will with help from an experienced probate and estate planning attorney.
How to Handle Bank Accounts When Someone Dies
When you or a loved one dies, their bank accounts and any other financial interests go into limbo until a will is produced or the legal system intervenes. Settling a person's bank account might be more complicated than expected without proper planning. The good news is the situation can easily be managed if the deceased has an up-to-date will and properly assigned beneficiary designations. Having a written document to refer to can make things much easier for family members and executors trying to unwind estate assets.
Writing a will is an important step when planning the future of any assets, and allocating your personal property is a major part of your responsibility to those you love. Deciding who will inherit your assets after you have passed away can be a difficult conversation to have. An experienced attorney can help guide you through this process and ensure you have the information needed to best distribute items such as jewelry and other valuable items. Forethought and advanced planning will prevent frustration and confusion from those trying to finalize your estate after your death. When formulating your will, your attorney will help you contemplate any options available to you and help you make an informed decision to protect your assets and your loved one’s peace of mind.
Everyone can prepare for the inevitability of their own death by creating a will that explains how they would like their assets divided after they are gone. Planning your assets doesn’t have to be especially complex. Even if you are dealing with retirement and investment accounts, an attorney can help you create a legal plan. Working with an experienced probate attorney can help ensure your belongings, including any retirement and investment accounts, go where you want them to go. An experienced attorney can provide you with will and probate services to ensure everything is in order before something unfortunate happens. A simple estate plan can prevent the emotional stress and familial turmoil associated with these types of property matters.
Wills, Probate, and Estate Administration at Dorcey Law Firm
Working with an attorney to create a will can help you ensure your finances, assets, and personal property are taken care of after your death. Without a will, the court may decide where your money and other possessions go - often not to the people you would have chosen. An estate planning attorney can help you ensure that your wishes are followed as it relates to your finances, belongings, or any gifts you want to be passed down after you die. With proper estate planning from a qualified professional, you can guarantee that your loved ones will receive what you intended for them when the time comes. Death can be emotionally and financially complicated, but having a will in place can make the process much smoother. By understanding the needs of your estate, you can take action to protect it from entering probate court after you die. The attorneys at Dorcey Law Firm have years of experience in estate planning and are available to create a will tailored to your unique needs.
Call today to start planning for the future or just to get more information on why having a will is important. Together, you and your attorney can work to ensure that when your time comes, everything is taken care of both quickly and elegantly. Our legal team strives to make your estate transition as simple as possible. Call today at (239) 309-2870 or request a consultation online.