Should I Update My Estate Plan After I Move To Florida?
Florida is one of the most popular states for people to move to. Often, this is later in life when people are looking to retire in a state that has great weather year-round, gorgeous scenery, and few tax implications. After moving to another state, you know just how many things you have to do. Below, our Daytona Beach estate planning lawyer explains why updating legal documents should be at the top of your list.
Important Elements of Your Estate Plan to Review
If your estate plan was executed properly in your former state and was considered legally valid there, state law in Florida will still enforce the document. However, this can still make matters more complicated and so, it is important to review certain elements of your plan to determine if they need updating. These are as follows:
- Your executor: Under Florida law your executor, also known as the personal representative, must be a Florida resident or related to you. If your executor does not qualify, it can open your will to legal challenges. For example, if you named a friend from out of state as your executor, they will not qualify under state law.
- Your will has not been proved: If you do not notarize your will, it has not been proved. This means that the witnesses must appear in a Florida court and testify that your will is valid and was signed in front of them. If your witnesses live out of state or you have not spoken to them in years, you may need to update your will with new witnesses.
- You have advance directives in your plan: If you include advance directives in your estate plan, such as a power of attorney or an advanced healthcare directive, you will likely have to update them. These documents are very state-specific and if you become incapacitated, you need to make sure you have designated someone you trust to make decisions on your behalf.
Benefits of Updating Your Estate Plan
Estate planning seems fairly straightforward but the truth is, it can become complicated very quickly. The biggest benefit of updating your estate plan is to ensure that your beneficiaries receive the property you wanted them to have after you pass away. It is important to work with a Daytona Beach estate planning lawyer who can ensure any changes made to your current plan are in accordance with state law in Florida and that your final wishes will be upheld. Updating your estate plan as soon as possible after you move to Florida will ensure that you and your family are protected.
Our Estate Planning Lawyer in Daytona Beach Can Update Your Plan
At Bundza & Rodriguez, our Daytona Beach estate planning lawyer can review your current plan and recommend any changes you need or that are necessary to comply with state law. Call us today at 386-252-5170 or contact us online to schedule a consultation with our experienced attorney and to get the legal help you need.
Source:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html