This post will help you understand more about intestate succession Florida. You’ve likely heard about how important it is to have a will or trust in place, but most people don’t really understand what would happen should they die without one. Florida residents who pass away without a will have their assets distributed to the closest living relatives based on the intestate succession laws. Understanding these laws will not only help you learn about what would happen, but it can also show you why a will or trust is so essential.
Who Gets What
Even in the simplest of situations with minimal assets, the inheritance can become somewhat complicated if you don’t have a will. The following is Florida’s intestate succession schedule based on common familial situations:
- If you are survived by children but you don’t have a living spouse, your children will inherit all your assets.
- If you are survived by a spouse but no children, your spouse will inherit everything.
- If you are survived by both your spouse and children who you had together with your spouse, your spouse will get everything.
- If you are survived by your spouse and children, plus your spouse has children from a previous relationship, your spouse gets half of your assets and your children inherit half.
- If you are survived by your spouse and children that you had from someone other than your current spouse, your spouse will get half of the intestate property and your children will get the other half.
As you can see, it can get complicated very quickly, and there is no guarantee that your estate will be divided in the manner which you would have preferred. When dealing with legal matters, complications cause problems, which far too often causes fighting within the family. While the above examples are fairly common, the intestate succession laws can get even more complicated for more unusual family dynamics.
The reality is, unless you are only survived by a spouse or a spouse and children that are from you and your spouse, most people will want something other than what the intestate succession laws provide for. The only way to accomplish that goal is to have a will or trust in place prior to your death. Working with an attorney to ensure everything is planned out properly is extremely important for ensuring the inheritance goes the way you want it, and to minimize the risk of family fighting.
Contact Legacy Planning Law Group today to start the process of planning your estate and protecting your loved ones from the uncertainty of intestate succession. Proper planning will bring you precious peace of mind.