Hi, I’m Reed Bloodworth, managing partner
of Bloodworth Law, with offices in Orlando and in Winter Haven, Florida. At Bloodworth Law, our team handles estate
planning services for clients across Florida and can work with you remotely, via video
conference, or in the office with the appropriate safety measures taken to protect you as we
help you with your legal needs. In this video, I am going to discuss the Probate
Process and Why a Will Has to Go Through Probate. Probate is the legal transference of titles
of assets of the creator of a will, the testator, to the will’s beneficiaries. If there's an asset for which there is no
beneficiary named -- which means there's not a Payable On Death beneficiary named within
an asset -- then it has to go through probate. If there's a will, then the will directs where
an asset goes. However, there may be problems with the will
which ensures that it will go through probate. If an asset has to have its title transferred
after the testator dies, and there's no named beneficiary, then it has to go through probate,
whether there’s a will nor not. For example, probate is necessary when a testator
is married and they live with their spouse in a house which is their homestead. But in this scenario, the house is only owned
by the testator. Under the testator’s will, he attempted
to leave the house to someone other than his spouse. However, pursuant to Florida Law, the testator
is not allowed to do that. Under Florida Law, the spouse is entitled
to a life estate in the house so that they can live in the house until they die. Alternatively, the spouse can take 50% of
the value of the house and the remainder would go to the beneficiary named in the Will. Florida law does not allow a testator to leave
their spouse homeless. Sometimes people attempt to do this, but if
and when this fails, you're going have to go through probate. What if there's children? What if there’s an ex-spouse that the home
was promised to? There are many situations where you may incorrectly
put in your will that you want “X” to happen. But just because you put it in there, doesn’t
mean that you're allowed to do it. For example, if when you created your will,
you've accumulated quite a lot of money. You’ve put specific amounts into the will
stating, "Child A is going to get $10,000. And this person will get $10,000, this person
will get $5,000." But at your death, your assets have decreased
or increased, then, the specific amounts have to be adjusted and will have to go through
probate. Creating a will and estate planning are not
do-it-yourself projects. If you’re over 18, you should have your
estate planning completed, and your legal documents reviewed by an attorney. Again, I’m Reed Bloodworth, the managing
partner of Bloodworth Law. Give me a call; let’s talk about how Bloodworth
Law can help you and your family.
