Up until this point in time, you, your lawyer, and your witnesses may be the only individuals who have laid eyes on your Last Will and Testament. You may have clued in your loved ones on its existence, but otherwise, it has likely been kept under wraps. Well, you must understand how this sense of privacy may not last forever. With that being said, please read on to discover whether your will is made a public record and how a seasoned Broward County wills lawyer at The Probate Lawyers can help you keep your estate plan more of a private matter.
Is my will made a public record in the state of Florida?
In short, your Last Will and Testament is a legal document meant to become a part of the public record in the state of Florida. Specifically, it will be made public at the time of your unfortunate passing. This is because, at this time, this document will be submitted to the Florida probate court. Soon after, if it is validated, it will undergo the probate process, where your appointed executor will distribute your estate’s assets to your designated beneficiaries.
From this point forward, anyone has the opportunity to access your will at the local courthouse or through purchase from a local clerk’s office. Ultimately, this may be of interest to anyone who wants to know how your assets were dispersed; how your outstanding debts were handled; who you named as your executor and beneficiaries; and who you named as the legal guardians of your minor children and pets.
How can I keep my estate plan more of a private matter?
You may assume that your estate matters being made public information is beyond your reasonable control. However, there may be one estate planning tactic to sidestep this fate. That is, you may forgo establishing a Last Will and Testament and create a revocable or irrevocable living trust instead.
A trust functions in a similar way, in which you may instruct on who shall distribute and receive your specified assets at the time of your death. However, the key difference here is that your trust document will never have to be filed with the Florida probate court. Subsequently, your trust document will never make it to the public record.
That said, there are other arguments to be made for why a trust may be preferable over a will. As just one example, a trust may allow you to control when exactly your beneficiaries should get their inheritances, rather than having them receive them all at once at the time of your death. Or, it may prevent creditors from going after the assets you worked so hard to preserve for your beneficiaries.
In conclusion, before entering the legal arena, you must retain the services of a competent Broward County estate lawyer. Reach out to The Probate Lawyers today.
