What topics does a Last Will and Testament (“Will”) need to cover?
There are many purposes for a Will but we will only discuss a few of the primary purposes. First, a Will provides a legal document to designate a person to oversee your final affairs at the time of your death. In Florida, this designated person is known as the “Personal Representative” of the Estate. In other states, this designation is called an “Executor” or “Administrator.” Second, the Will provides a legal means to designate who will be the beneficiaries of your Estate. Often, a Will names primary beneficiaries to receive distribution from your Estate and designates alternate beneficiaries in case one or more primary beneficiary predeceases you. Third, a Will provides a means to designate what each of your beneficiaries will receive from your Estate and when they will receive it. Gifts, known as “bequests,” can be special bequests leaving specific property to specific beneficiaries or may be general leaving the “residue” (or the “rest”) to the beneficiaries in certain percentage am
