Legal Question in Wills and Trusts in Florida
Will beneficiary
Two-part question: (1) In the same way a testator is required to be ''...of sound and disposing mind...'' (or something similar) when a will is created, does the same requirement hold true for the beneficiary if said beneficiary is my last living relative, insane and has no concept of money much the same as an animal is unaware of money? In the case of the animal, it is the caretaker who reaps the benefits from ''...a million dollars for my cat...'' (2) And does the requirement hold true under ANY circumstances?
2 Answers from Attorneys
Re: Will beneficiary
A beneficiary is not required to be of sound mind. If incapacitated, both the person and the assets will go in guardianship. Be aware, thought that the person may not be able to dispose of his estate if he or she is not of sound mind for will making purposes (or through testamentary trust). You can help by setting up a trust and deciding where the assets go after your beneficiary passes and also avoid guardianship problems.
As for animals, be careful. There is a slightly different set of rules. For instance, Florida has a new pet trust law but the trust cannot be over funded. Thus, your million dollar example would not hold.
Re: Will beneficiary
It is not necessary for a will beneficiary to be of sound mind, however, the probate court may appoint a guardian for the beneficiary if necessary. If this is your will you are writing, you may want to set up a trust for the individual's benefit.
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