REMINDER: Florida's New Intestacy Law Effective October 1, 2011
As I blogged about earlier, Florida has a new Durable Power of Attorney law that goes into action on October 1, 2011. Florida also has a new intestacy statute that becomes effective October 1, 2011 as well.
As a reminder, intestacy means you have passed away without a last will and testament and the state in which you live in, for me Florida, has therefore, written one for you. Most of the time this is not what you want-so please set up a last will and testament.
However, for those of you who do not, your family composition (spouse only, children only or blended family of some kind) will determine how your assets are passed. A fellow Florida attorney, David Shulman, published a flow chart that you may use to determine how your assets would pass in Florida if you do not leave a last will and testament.
To learn more on intestacy laws in Florida, please consult our estate planning attorney at Wood, Atter & Wolf, P.A. in Jacksonville and Ponte Vedra Beach, Florida.
