The administration of an estate, which includes the execution of the will, occurs upon the death of the person named in the documents. It can be a very lengthy and stressful process for the surviving family members, especially if the decedent did not outline everything about their assets. Today, let’s take a look at what happens with a will after death in Florida.
Large estates will be required to go through probate upon the death of the creator. The assets of the estate are sent through probate by the court before anything can be distributed to the heirs listed in the will. There are some assets that are not subject to probate and they include life insurance policies, living trusts that hold property and property held via joint tenancy.
Before a will can be validated, it must meet a certain set of requirements, the first of which is that the creator (testator) did so when of sound mind and a legal adult at the time the will was written. The will must also be in writing. The testator is required to sign the will in front of witnesses and it must be notarized in order for it to be validated.
Anyone can legally challenge a will if they tend to disagree with what is written in it, but it doesn’t mean that the challenge will be approved. The surviving spouse also has a right know as the right of election. This allows the spouse to claim up to half of the estate if unsatisfied with it.
Now that you know what happens with a will after death you can begin to prepare yourself for what’s to come if you are a power of attorney or executor. These are two important legal designations that should never be taken lightly.