Avoiding Unintended Consequences in Your Will: Who Inherits Your Wealth?
Estate planning isn’t just about what you give—it’s about ensuring nothing goes where it shouldn’t.
-Ernesto Martinez Jr.
The image above of a child stacking coins serves as a powerful reminder of the importance of financial responsibility. However, that responsibility doesn’t end with managing your wealth during your lifetime. Estate planning is about organizing your legacy to ensure your loved ones are cared for and your assets are distributed exactly as you intend.
When writing a will, most people focus on who should inherit their assets. Just as important, though, is deciding who shouldn’t. Estate planning goes beyond simply passing on wealth—it’s about ensuring your intentions are honored and avoiding unintended consequences that can arise without careful planning.
In Florida, wills are governed by Florida Statutes § 732.502, which outlines specific requirements for creating a valid will. While the process might seem straightforward, many people mistakenly believe that state laws will automatically ensure their assets go to the right people. Unfortunately, that’s not always the case.
For example, people who remarry often assume that their assets will naturally pass to their children from a previous marriage. However, without clear instructions in a properly drafted will, the new spouse could inherit everything, leaving children unintentionally disinherited. Florida’s elective share laws also guarantee a surviving spouse a percentage of the estate unless otherwise specified in a prenuptial or postnuptial agreement.
Another common oversight is failing to update your will after significant life changes. Marriages, divorces, births, or deaths should prompt an immediate review of your estate plan. Failing to do so could mean your assets end up with individuals you no longer intend to benefit, such as an ex-spouse or distant relative.
An estate plan also gives you the ability to exclude specific individuals from inheriting. While this may seem harsh, it’s sometimes necessary for personal, financial, or legal reasons. In Florida, clearly stating your intentions in your will is critical, as the court will generally follow your written instructions unless there is evidence of fraud or undue influence.
One way to minimize accidental disinheritance is through trusts. A properly set up trust allows you to specify exactly how and when your assets are distributed. Trusts also offer privacy and protection from probate, ensuring that your estate plan is carried out smoothly.
As Benjamin Franklin famously said, “An investment in knowledge pays the best interest.” Understanding your estate plan and working with a skilled attorney ensures that every decision reflects your true intentions, preventing costly mistakes for your heirs.
The takeaway is simple: a well-drafted will protects your loved ones from confusion and unintended outcomes. Regularly updating your estate plan and considering who should not inherit your assets is just as important as deciding who should.
If you want to safeguard your legacy and avoid unintended consequences, contact Probate Counsel today. With over 32 years of experience, Ernesto Martinez Jr. can help create a personalized estate plan that honors your wishes and protects your family’s future. Call 305-446-0702 for a consultation.
