When it comes to estate planning, many Florida residents fail to properly account for the distribution of their assets. There are many cases where people do not have the opportunity to construct a will before passing. In other instances, the validity of a will is challenged because it was not created within the bounds of Florida State laws. That is why it is important for those considering their estate planning options, as well as potential beneficiaries, to understand how holographic wills are regarded under Florida guidelines.
According to investopedia.com, a holographic will is an estate planning document that is written and signed by the maker of the will. Holographic wills are typically not notarized or witnessed by another party at the time of their creation. As a result, there are many instances where holographic wills are not considered valid or legally binding. In the event that a holographic will is typed, for instance, it may only be considered valid if it is witnessed by another party. The legitimacy of a holographic will can also depend upon other factors, such as whether the maker of the will was mentally fit to compose the document and whether estate beneficiaries were accurately identified.
While numerous conditions can play a role in determining whether or not a holographic will can be considered valid, Florida estate administration guidelines do not recognize handwritten wills composed by state residents. About Money explains that Florida is one of several states that will not execute the terms of holographic wills. Consequently, serious legal issues can arise in estate planning cases involving handwritten documents.