There are many reasons why a person may die without a will. One of the most common is that no one wants to face their mortality and it is hard to avoid that if you are planning what happens with your estate when you die. Another is that you don’t think your estate has enough value to need a will or it would cost more to have one prepared than your estate is worth. Another common reason is that you assume that if you die without a will, your spouse gets everything and will then divide it among your children….
A holographic will is a will that has been entirely written and signed in the handwriting of the testator, who is the person who makes the will. While some states consider holographic wills to be valid, Florida does not unless the will meets certain requirements.
Under Florida law, a holographic will is valid if it meets three specific requirements. First, the will must be signed by the testator. Usually, this requirement is met when the testator signs the will at the end of the document….
Although estate planning documents may still be valid, they may not meet an individual’s needs beyond a certain date. Those who follow estate planning trends say that if a will was created over 10 to 15 years ago, it may be worthwhile to review and update it. For instance, wills created before April 2003 may not account for new HIPPA laws, which may make it difficult for someone with power of attorney to carry out certain health care wishes.
Wills that were created before 2005 may not account for state taxes on an estate on top of federal estate taxes….