Be certain to update your life and estate planning documents to conform with Florida law if you’re moving in from out of state.
WHY IT MATTERS:
Florida has high standards when it comes to estate planning documents, leading institutions in the state to question the validity of out of state documents.
- Some institutions may even question whether or not they are bound to follow your instructions, or accept them at all.
- The best way to avoid potential issues down the line is to have your documents reviewed and updated as soon as possible after moving to Florida.
THE DETAILS:
Out of state wills are generally accepted in Florida, though terminology may be mismatched, while trusts will continue to be valid, but may be governed under the laws of Florida in full or in part.
The NEXT STEP:
When getting your documents updated, take the time to consider substantive changes – who your personal representatives are, or what assets are in your trust.
- Your beneficiaries may have grown apart from you since you last updated your will, or your personal representative’s life situation may have made them unsuitable for the role.
- Ensure that you know which of your assets are in your trust compared to being in your individual name.
