12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Limitations of a Last Will and Testament in Hampton, FL

Limitations of a Last Will and Testament in Hampton, FL


A hundred years from now it will not matter what my bank account was, the sort of house I lived in, or the kind of car I drove...but the world may be different because I was important in the life of a child.
 
- Forest E. Witcraft


Last Wills are a wonderful way of addressing the needs of loved ones in estate planning but not everything can be carried out by your Last Will.

What a will won't do includes the following:

Bequeath Certain Kinds of Assets or Property. You cannot use your will to leave:

• Property that is in the Living Trust

• Life insurance policy proceeds that has a beneficiary in it

• Money in the retirement plan that has beneficiary indicated in its forms.

• Stocks or bonds held in beneficiary and has transfer-on-death or TOD form. If you want to change the beneficiary, contact the brokerage company

• Money in a payable-on-death bank account.

• Joint tenancy. Leaving a property that is not entirely yours but is co-owned with someone else automatically transfers the entire property to the surviving co-owner. Your share that was indicated in your will can only go to it beneficiary if the all owners of the property dies simultaneously.

Direct Funeral Arrangements

It would be wise to make separate documents regarding your wishes and inform your executor its location when needed. It sometimes takes days or weeks for a will to surface after death and memorial services or wishes indicated may not be executed.

Reduce Estate Tax

Having a will won't help evade taxes. If you are expecting your estate to owe federal taxes, start taking steps to decrease your tax liability. In terms of tax bills, there are many trusts that can reduce or for postpone it.

Avoid Probate

Establishing the validity of a will can take months or years of being tied up in a probate court before final contribution of the property commences.

Apply Certain Conditions on Gifts

A gift that is awarded via a will should not contain condition attached like a contingent on marriage, divorce or change of religion of the receiver. You can only include lesser influences like leaving money for a certain person when he goes to college. Making conditional gifts can sometimes open a can of worms because questions will arise as to who will enforce the wills' condition and for how long.

Leave Money for Illegal Purpose

This is a rare situation, but you cannot allocate money for use on something illegal.

Arrange to Care for a Special Need Beneficiary

Long term care for someone with special needs will be better off in a trust that is tailored to the persons' needs. It will not jeopardize government benefits as well as it can provide extra income for the person and its family that can be use in his care.

Leave Money to Pets

Pets should be left to new owners who will take care of them. Leave the money to them to help with your pets' related expenses. Pets cannot own property so leaving property directly to them is not a good idea. Trust are allow in some other states but won't be necessary if you have confidence in the person whom you left your pet(s) with after you pass away.
 
Personalize & Print a Free FL Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Related Legal Services near Hampton, FL
Forman Law Offices PA
334 NE 1st Ave
Delray Beach, FL 33444
(561) 266-9998
Malpractice Law Attorneys, Medical Malpractice Attorneys, Attorneys
Immigration Visas Services Inc
6856 W Flagler St
Miami, FL 33144
(305) 267-9820
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
Walker Moneques S PA
8260 W Flagler St Ste 1E
Miami, FL 33144
(305) 485-9550
Immigration Law Attorneys, Attorneys
Ibertis Edecia
1221 N Main St
Kissimmee, FL 34744
(407) 944-9431
Paralegals
Amerilawyer.Com
9 Dotterel Rd
Delray Beach, FL 33444
(561) 272-9228
Corporation & Partnership Law Attorneys, Attorneys, Business Law Attorneys
O'Farrell Rob
2006 N Harbour Dr
Lynn Haven, FL 32444
(850) 234-9192
General Practice Attorneys, Attorneys, Legal Service Plans
Trafficschoolamerica.Com
1305 New Jersey Ave
Lynn Haven, FL 32444
(850) 814-9111
Traffic Law Attorneys
John Cullum
26843 Tanic Dr., Suite 102
Wesley Chapel, FL 33544
(813) 997-9025
Family Law Attorneys, Divorce Attorneys, Probate Law Attorneys, Wills, Trusts & Estate Planning Atto
Westbay Career School
27212 Foamflower Blvd
Wesley Chapel, FL 33544
(813) 907-8961
Colleges & Universities, Family Law Attorneys, Business & Vocational Schools, Adult Education
Gonzalez Mercedes
26907 Foggy Creek Rd Ste 101
Wesley Chapel, FL 33544
(813) 973-8900
General Practice Attorneys, Attorneys
Bomnin & Villegas Consultant
8500 SW 8th St
Miami, FL 33144
(305) 262-8722
Real Estate Attorneys
Harrison Baya Atty
310 N Jefferson St
Monticello, FL 32344
(850) 997-8469
Criminal Law Attorneys, Attorneys, General Practice Attorneys
Barber Michael J
808 N Main St
Kissimmee, FL 34744
(407) 933-8212
Corporation & Partnership Law Attorneys, Attorneys, Family Law Attorneys, Business Law Attorneys, Re
The Berlinsky Law Firm
35 N 6th Street, Suite 7
Haines City, FL 33844
(863) 409-7961
Andrea Mosley Attorney
1627 E Vine St # 120
Kissimmee, FL 34744
(407) 574-7921
Bankruptcy Law Attorneys, Attorneys
Felicia Williams Law Office
2405 Creel Ln # 102
Wesley Chapel, FL 33544
(813) 991-7773
General Practice Attorneys, Attorneys
Santana Law
5755 W Flagler St
Miami, FL 33144
(305) 269-7727
Immigration Law Attorneys, Attorneys
Rodriguez Eduardo
2558 US Highway 17 92 N 92 N # H
Haines City, FL 33844
(863) 419-7700
Attorneys Referral & Information Service, Attorneys
Solomon Martin M
660 Linton Blvd # 216
Delray Beach, FL 33444
(561) 274-7581
General Practice Attorneys, Immigration Law Attorneys, Attorneys
Pike Therese A
298 NE 2nd Ave
Delray Beach, FL 33444
(561) 274-7500
General Practice Attorneys, Attorneys
Cascio Carl A PA
525 NE 3rd Ave # 102
Delray Beach, FL 33444
(561) 274-7473
Corporation & Partnership Law Attorneys, Attorneys, Business Law Attorneys
Aponte & Assoc-Abogados
1920 Verano Dr
Haines City, FL 33844
(863) 438-7451
Immigration Law Attorneys, Attorneys
Wilbur V Chaney
75 SW 5th Ave
Delray Beach, FL 33444
(561) 276-7447
Bankruptcy Law Attorneys, Attorneys, Legal Service Plans
Matthew J. Jowanna, P.A.
2521 Windguard Cir
Wesley Chapel, FL 33544
(813) 929-7300
General Practice Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US