6 Things You Need to Know About Florida’s Last Will and Testament

Florida’s Last Will and Testament. 

One final nod to the deceased. One last chance to determine what happens to property accumulated over a lifetime. The closing chapter on a life and all it accomplished. 

The Will is one of the most fundamental tools in Florida’s Estate Planning toolbox. 

Yes, there are others. Trusts, Joint Accounts, Beneficiary Designations and Intestate Statutes to name a few. 

But the Will, if used correctly, can work to supplement the other tools and catch any assets that may have been missed during the Estate Planning process. Kind of a belts-and-suspenders approach.

Consider the following questions in determining whether all of your assets are properly accounted for in your estate plan:

4 Things You Need to Know About a New York Quitclaim Deed

New York quitclaim laws are similar to most other states with a few exceptions. 

1. Transfer of Interest

You can only use a quitclaim deed to transfer your interest in the property and nothing more.

If you own a life estate interest in a parcel of property you cannot transfer a fee simple absolute interest in the property. If you own a leasehold interest in a parcel of property you cannot transfer a life estate interest in the property.

At its core, the person granting a quitclaim deed is really only saying "I'm not representing that I have any interest in the property. I'm only representing that if I have any interest in the property I'm transferring that interest to the grantee."

In other words, if you are buying property and you want the seller to represent that he or she actually owns the property you will need to use a different form of deed (e.g. warranty deed).

2. Unclear Language
If the language in the quitclaim deed is clear and unambiguous, you cannot bring in outside evidence to prove the deed intended to transfer something other than what is stated in the document.