Do-It-To-Yourself Estate Planning
The latest installment of Do-It-To-Yourself Estate Planning comes from the Florida Probate & Trust Litigation Blog.
In this case, a husband tried to give his second wife the right to live in the home until she died. But, he wanted to ensure the home went to his children from his first marriage. He executed a deed, that clearly stated his intentions.
After his death, his second wife transferred the deed to herself and her grandson, trying to ensure the property went to her family rather than his. The husband's daughter listed in the deed objected.
However, the problem wasn't with his stated intentions. The problem was that he did not comply with Florida law. Ultimately, the deed didn't work as intended and it cost much more that paying a competent attorney. Sometimes, we can be pennywise and pound foolish.
I have taken this to heart. Now, when I go to my mechanic, I listen to him a little more carefully because he is the expert and I do not want to be left stranded in the Arizona desert. I understand that good protection is worth its price.
