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I regularly start my consultation asking the prospect “why do you want a Will?” Surprisingly, more and more often, I am told “I need to make a Will so that my home and money go to my children and the government doesn’t keep it.”
I am not sure where the misinformation is coming from, but it is certainly too common lately. The truth is that the government will not take your assets if you don’t have a Will. If you have family and no Will, the government does dictate who receives your inheritance, but unless you had absolutely no family or relatives, the government does not take your house and money when you die.
The fact that you do not have a Last Will and Testament does not give the government authority to take over your assets. Florida Law specifies who will receive your assets if you pass away without a Last Will and Testament. You may or may not like the way the law will distribute your assets, but it is very unlikely that the government will ever get your assets. The statute provides for your assets to go to a spouse and/or children or descendants, and so on (always to family or relatives).
If you owe money to the government or anyone else (debts) or had medicaid, those creditors can come against your estate. But, any creditor must file a claim and go through a legal process to collect their money (through the probate case in court). The government, however, does not automatically keep your bank account and your home if you don’t have a Will.
There are benefits of having a Will, of course. If you have a Will, you have control of who your beneficiaries/heirs are going to be and in what proportions. However, there are better ways to plan than just having a Will. So, before you go running to do a Will, get additional information on the options that are available, such as trust-based planning. Find out what is the right plan for you, the one that will protect you, your asets, and your family. Every family is different, so find what fits yours right.
If you have questions about estate planning, we will be happy to provide your with the information you require to make an informed decision. Give us a call at 772-405-1984 or 305-456-7158 or contact us Here. We will be very happy to help!
Yahima Suarez, Esq.
At Yahima Suarez, PA, we care . . .
