Experienced Palm Beach probate litigators know that times and feelings change, that means so do our client’s Last Will and Testament. The law is clear though about changes to a will or codicil, do you know what it says? Those “additions” you made might not be valid in fact you may have thought you revoked your will and didn’t. Do you know the rules? Learn them here.
Amending Your Will
- You cannot amend your will simply by scratching something out.
- What if you initial next to the change?
- Still not good enough in Florida.
- If you want to make a change talk to an experienced Palm Beach probate litigator and go through the formalities again.
- So wait is that the only way to change your loved one’s inheritance?
- Luckily no!
Written Memorandums in Florida
- Florida has created a loophole for you in regards to the little parts of your inheritance that you may want to amend at a moments notice.
- The loophole is small though and unforgiving so do not push it.
- Florida allows for an informal handwritten memorandum that disposes of tangible personal property outside of your will.
- Think about that so you can amend it at a moments notice!
- Other documents are allowed to be referenced in a will but the rule is a little more strict, the documents have to be in existence when you execute the will.
- For this informal memorandum there is so no such requirement.
- In other words you can update it daily if you want.
- But be careful and remember these two big points.
- You cannot devise money or any real property (land) this way.
- The Florida courts also will not apply this law to intangible property like stocks and bonds, sorry!
- Its still a pretty cool rule though!
- In fact many clients find that this is the most important things for them to devise, they know who gets the house and the accounts but what about their prized heirlooms.
- Often it can get to tedious to put all of these things in a will and of course our opinions on who should get what change as we live.
So a quick recap, what kind of property can you devise using this informal note?
- A car? Sure, its personal property.
- Your house? NO that is not personal property!
- Your grandmother’s fine china? Sure!
- What about your stock portfolio? Nope!
- And what about the pile of cash you keep in your West Palm Beach safe? No! And be careful this is the one often people forget, if you want to devise money put it in your formally executed West Palm Beach will.