Do you have children from multiple marriages or outside marriage? Are you concerned about leaving each child a part of your estate? Did you know that Florida intestate laws provide for just such a scenario? Do you agree with Jackie Chan in his recent view that his love child “doesn’t need [his]inheritance?”
Providing for Children Without a Will
- All states, including Florida, have a “default will” for every person.
- The “default will” is actually just a set of rules for how the state will divide up your property (i.e. your estate) if you did not leave instructions ( a will).
- This is referred to as “intestancy” or “dying intestate.” Maybe you have heard the term intestate succesion?
- Do you know where to find the Florida Intestancy Rules? Have you checked out Chapter 732 of the Florida Statutes?
- If you would like to take a look simply click the link above.
- Intestancy succession differs when a person has children from an individual besides their present spouse.
- Do you know why? To protect children like Mr. Chan’s.
Providing for Children with a Will
- Obviously the preferred route of protection is to provide for your loved ones through anestate plan.
- Palm Beach Probate Lawyers know creative, tested ways to provide relatives with long term assistance. Not to mention short term payouts with reduced tax consequences!
Jackie Chan’s Love Child Does Not “Need” His Inheritance
- Although not widely publicized, at one point well known martial arts actor (and former stuntman) Jackie Chan had an affair with a Chinese actress, that bore a child.
- Chan has not provided for his lovechild in his estate plan stating in a recent interview that his daughter “does not need his inheritance.” Do you think this is fair?
- What about his other children, do they not need his inheritance either?
Delray Beach probate lawyers know that providing for your loved ones is one of the fundamental goals of a properly executed West Palm Beach estate plan.