Florida Wills: Are Your Assets Bound for Probate?

Creating a will is one of the best ways to ensure your final wishes are carried out after your passing. However, simply having a will does not mean your assets automatically go to your loved ones. Assets that are titled in an individual’s name that is deceased typically go through probate, which is a legal process that can be lengthy and expensive.

As experienced Florida estate planning lawyers and probate lawyers, we at the Pittman Law Office have a comprehensive understanding of Florida probate law. Today we’ll help you understand what to expect if your assets are subject to probate in the Sunshine State.

There are certain assets that can bypass the probate process and go directly to the intended beneficiary. These include:

Jointly Owned Assets

If an asset is owned as joint tenants with rights of survivorship by two people and one person passes away, the surviving owner automatically becomes the sole owner of the asset. If you have jointly owned assets, your Florida estate planning attorney can review them and advise you accordingly.

Assets with a Designated Beneficiary

Assets such as retirement accounts, life insurance policies, and some types of bank accounts can have a designated beneficiary named on the account. When the owner passes away, these assets go directly to the designated beneficiary instead of going through probate.

Assets Held in a Trust

Assets held in a trust are not subject to probate. It is important to engage a trusted law firm such as Pittman Law Office with experienced Florida Estate Planning lawyers who can set up your trust in accordance with your wishes.

Most other assets owned solely by the deceased person are generally subject to probate regardless of whether or not a will exists. The assets that are most commonly subject to probate include real estate, bank accounts with no designated beneficiary, investments, and personal property.

Your friends at Pittman Law Office have expert estate planning attorneys and probate attorneys ready to serve you. If you need a Florida estate planning attorney or probate attorney in the Villages area, we invite you to schedule a consultation with us today!