Last Will and Testament Law
Cape Coral, Coral, Fort Myers, Lee County, Florida
Living Trust
Contrary to popular belief, it isn't only the rich who need a will when settling their estate. In fact, may people, including the wealthy, die without ever having made out a will during their lifetime. Virtually everyone owns property, either real or personal, and we would like to be able to choose who that property will go to at the time or our death. If a will is not made out by the time of death, a probate court may decide the validity of your will or trust, as well as choose an executor to take control of your property.
Wills
Also called a “last will and testament,” wills are designed to protect your property. A living will issues instructions to healthcare providers about your wishes should you become incapacitated. This includes DNR (Do Not Resuscitate), blood transfusions, organ donation, surgery, incurable or debilitating illness, and other issues of a medical nature. Living wills also cover trusts, probate, finances, and estate planning. While these types of wills do not require a surrogate, or appointed person, to make decisions for the incapacitated, discussing your options with an experienced lawyer can help allay any hesitation you may have about signing one. Also, signing a will can keep your heirs and beneficiaries out of probate court should an argument over dispersal of your property arise.
Trusts
Trusts are often created in conjunction with a will or estate planning. A trust is a form of ownership of your property where a legal title of the property is held by a Trustee and the remainder of the interest is held, or owned, by one or more others called beneficiaries. Their rights are controlled by the terms in the trust signed by the individual who created it. They are known as the trustor, settlor, or grantor.
A living trust is one that the grantor has administered to go into effect during their lifetime. This type of trust may be revoked or changed while the grantor is alive at any time. A testamentary trust is on that goes into effect after the death of the grantor. If the grantor wishes, they may set up an irrevocable trust, which may not be changed or amended.
While you may have heirs to receive your estate after your death, many people choose to appoint an organization as the beneficiary. Charities (charitable trusts), environmental groups, churches, and others are sometimes the recipient of a trust.
For more information, see Probate and Wills Questions.
If you are interested in having an experienced lawyer look over your existing will, or wish for one to set up your will or trust, please contact Lusk, Drasites, Tolisano & Smith, P.A. in the Cape Coral, Fort Myers, and Lee County, Florida area.
