Searching for will vs. estate planning? Fischetti Law Group is committed to helping clients secure their legacy goals. We can explain what your estate plan needs to include and advise you through the important decisions.

Many people think that writing a will is the same thing as estate planning. In reality, a legally valid will is just one part of an estate plan. Our estate planning lawyers in Boynton Beach offer personalized services for drafting wills and other vital documents.

Call 833-645-3247 (833-MIKE-247) today for a FREE 20–30 minute consultation. Fischetti Law Group provides estate planning services for clients throughout South Florida from our offices in Boynton Beach and Fort Pierce.

What Is a Will?

A will (also known as a last will and testament) is a document that provides instructions for the distribution of assets after your death. It may also include provisions for the care of minor children, as well as name a personal representative for the estate.

If a person dies without a will, assets are distributed in accordance with Florida’s intestate succession law. Your wishes may be contrary to the letter of the law, and your loved ones and other beneficiaries will have little room to challenge the court’s decisions if you left no will.

What Is the Biggest Mistake with Wills?

The biggest mistake most people make is not having a will at all. Another big mistake is assuming that a will covers everything.

Wills do not provide instructions if you become incapacitated, which can leave your family to answer difficult questions if you are unable to express your own wishes. Furthermore, wills in Florida must go through probate before assets can be distributed and any qualified debts will be paid first. This can gobble up the funds within the estate and leave less for your beneficiaries.

Read More: Can an Estate Be Settled Without Probate in Florida?

Online options for writing wills (including free templates and low-cost services) don’t always make a clear distinction between will vs. estate planning. They also don’t explain the limitations of just having a will. A complete, customized estate plan is essential for avoiding complications when you are alive as well as after you’re gone.

What Is an Estate Plan?

Estate planning is a broader process than simply writing a will. It accounts for both death and incapacity, clearly communicating your wishes so you and your family have peace of mind and any beneficiaries are provided for.

Depending on the circumstances, your estate plan should include:

• Last will and testament
• Revocable and/or irrevocable trusts
• Healthcare directives
• Power of Attorney
• Guardianship nominations for minor children

To put it simply re: will vs. estate planning, the primary goal of a will is to specify how assets should be distributed. An estate plan, meanwhile, covers this and so much more.

Documents in the estate plan can distribute assets, name someone to make financial and medical decisions on your behalf, nominate guardians for your children, and more. The decisions you make during estate planning can also simplify the probate process and minimize tax liability.

Do I Need a Will or an Estate Plan?

Ideally you should have both. Think of the will as one leg of the table that is a complete estate plan. Each leg represents a different strategy for ensuring that your wishes are respected and safeguarding your family’s future once you pass away.

Having an estate plan, rather than a will only, is particularly important in Florida. Wills must go through the county probate court, which can be costly and time-consuming. Trusts are an integral part of estate planning because they can keep assets out of the will, and therefore not included in probate. Beneficiaries can receive the assets directly without having to wait on the court.

Estate planning is also critical for navigating Florida’s unique homestead descent laws. Under Florida law, the primary residence (known as the homestead) passes to the surviving spouse. The only way to get around these rules is through estate planning tools such as trusts or a lady bird deed.

Will vs. Estate Planning: A Comparison

Does an Estate Override a Will?

If you previously wrote a will and then subsequently create an estate plan that includes a new will, portions of the first will are likely to be invalidated. This is known in Florida as “revocation by writing”; any provisions of the old will that are inconsistent with the new one are overridden, even if the prior will isn’t specifically referenced.

A legally valid estate plan, including a new will, can prevent provisions of a prior will from violating Florida law (such as leaving homestead property to someone other than the surviving spouse). This protects your beneficiaries by reducing the risk of the court declaring portions of the will void. Often, this is only possible with assistance from a qualified estate planning attorney.

Will vs. Estate Planning: Know the Difference & How Our Lawyers Can Help

There is a common misconception that wills are for “regular” people while estate plans are just for the wealthy. In our experience, anyone can benefit from a cohesive and holistic estate plan. This is especially true if you have a large family, loved ones with special needs, business ownership or interests, and other complex situations.

If you are thinking about getting your affairs in order, don’t think about wills versus estate planning. Fischetti Law Group can help you with all aspects of your legacy, from drafting a will to setting up trusts and more.

Contact us today for a FREE 20–30 minute consultation to ask questions and begin making your estate plan. With offices in Boynton Beach and Fort Pierce, Fischetti Law Group serves clients in Palm Beach County, St. Lucie County, and other areas of South Florida.