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WILLS
Do I Need a Will?
Probably, UNLESS you like the will the State of Florida drafts for people who die without a will.
If you die without a will, this is your will:
a) The first $50,000 goes to your spouse, if you have one.
b) The remainder is split 50/50 between your spouse and your children, with your spouse getting 50% and all your children together getting 50%.
Most people do not want this kind of will because............................
......................................
Some Definitions
Will - A document that tells the court who to give a dead person's things to.
Probate- The court proceeding that transfers a dead person's things to live people or other entities, while making sure that all creditors have a chance to allege and litigate any claims they may have against the dead person.
Estate