What happens if I don't have an estate plan?

If you don’t have an estate plan in place in Florida, your assets won’t automatically go to your loved ones, as is commonly believed. Without an estate plan, the state will decide who will receive your assets after you die. This will be based on the intestate laws in the state. In Florida, the intestate laws will split your assets amongst your closest living relatives. To make things complicated, if you are not married, any children you have will receive your assets, but not necessarily in the same proportions. This means some of your assets may be divided disproportionately amongst your relatives. If you have no living relatives, the state will take your assets, and it will be up to them to decide what to do with them. They could use it for different government projects or put it towards the state’s coffers. It is unlikely that any of your beneficiaries will receive your assets as a result. Therefore, it is important to have an estate plan in place in Florida. An estate plan will ensure that your wishes are followed, and that your assets are distributed to the people and organizations that you would like them to go to. If you don’t have an estate plan, your wishes will simply not be fulfilled.

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What happens if I don't have an estate plan?

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