Legal Question in Wills and Trusts in Florida
My widowed mother has asked me to help her write a will and we are wondering if we need a revocable trust. She is 81 and we live together. She has added me to her house title as co-owner and to her bank accounts as POD. She has several CDs. She intends for all of her assets to go to me since my brothers have little to no contact with us and are no help. She does want her assets to go to one particular grandchild in the event of my death. How would you advise?
2 Answers from Attorneys
You should contact an estate planning attorney to help your mother and to make sure that the documents are enforceable. Your involvement in helping her create her will might make it appear you are heavily influencing her, which means someone (like one of your brothers) could come along and challenge it. In fact, you probably should not even be in the room when your mom (and the witnesses) sign the will, and your mom should seek legal advice about whether changing title accomplishes what she wants. This is a complicated area of the law, so check the consumer pamphlet at the Florida Bar's website and contact an attorney. Regards.
As Ms. Longa recommends, you should contact an estate planning attorney. There are several different options available but each has its pros and cons to consider. Also be cognizant of tax consequences, especially when gifting to grandchildren.
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