Five Different Types of Florida Wills
Although many people know of the simple will, there are actually five different kinds often found individually in estate plans. Before you meet with an estate planning attorney you should have a realistic expectation of wills you may discuss.
- A simple will is far too simple for many families. In law, as in most professions, few things are every really simple. A simple will is simply a will created to leave all property to your spouse upon your death. It has minimal bequests and distributions and will be probated.
- A complex will is a will that is generally lengthy in nature and includes multiple devises and bequests which may have specific conditions to the gifts.
- A pour-over will is a will that offers the same benefits of a simple will but additionally specifies that property that you have not been placed into a trust be placed in the trust upon your death.
- A testamentary trust is a will document with a trust built into it and is also called a trust under will. This trust is not actually valid until the will is probated and the trust is funded with the property named in the document.
- Holographic wills are hand-written wills that have not been witnessed. Holographic wills are not valid in Florida even if valid in a state where the will was previously created.
Please understand that will documents must go through probate which may last a long time and may be costly. The type of will that is appropriate for your friend may not be appropriate for you.