Does a Spouse Have the Right to Challenge a Will?
Video Summary
Sometimes when a person dies, the question arises of whether the decedent’s spouse can challenge his or her will. This is particularly of interest of the spouse was not left anything in the will. According to the law, a spouse does have a right to a percentage of all assets the decedent leaves behind, so he or she can challenge a will in order to exercise that right.
The best protection if you do not want your spouse to have rights to your estate or you would like to stipulate a specific portion that he or she is entitled to is to execute a prenuptial agreement. Our firm does not currently deal with prenuptial agreements, but if you would like help in drafting a will to protect your assets, please call us at (727) 847-2288.
Terms in a Will
Video Summary
Two common terms used in preparation of a will are per stirpes and per capita. Both refer to different ways to indicate how your assets are to be distributed amongst your beneficiaries.
Per Stirpes means that if a benificiary named in your will dies before you do, then his or her share of the inheritance will pass to his or her beneficiaries.
Per Capita means that if a beneficiary named in your will dies before you do, this his or her share of the inheritance will be divided equally among the remaining beneficiaries.
For example, let’s say you have two children and the older dies.
If your will is written per stirpes, the older child’s beneficiaries will receive his half of your estate.
If your will is written per capita, the younger child will receive one hundred percent of your estate.
Does My Will Have to be Probated?
Video Summary
Many prepare a will in the hopes that it will prevent their estate from undergoing the probate process at the time of their passing. However, if you are in sole ownership of any assets with no co-owner or beneficiary legally established, then those assets will need to be probated.
If you have any questions about estate planning or would like to have your will prepared, please call Waller & Mitchell at (727) 847-2288.