Just Moved to Florida? Make Sure Your Estate Plan Moved With You

Just Moved to Florida? Make Sure Your Estate Plan Moved With You

If you plan to move to Florida — or are a recent arrival — it is important to ensure your estate plan complies with Florida law. Some common problems found in estate plans of those moving to Florida include:

Will is not self-proved. Florida law requires that a testator sign a self-proving affidavit in front of two witnesses and a notary, who must also sign the affidavit. Many wills from other states lack a self-proving affidavit.

Executors do not qualify. Florida law requires that estate executors must be either a Florida resident or related to the testator by blood or marital relationship. Other states may not have these same provisions.

Inadequate durable powers of attorney. Florida’s power of attorney law requires the language to be very specific about what powers are granted to an agent under a power of attorney. If a durable power of attorney was created in another state that did not require this specific language, it is not valid in Florida.

Revocable living trusts and Florida homestead laws. Many people buy a second home in Florida with plans to retire here, titling the home in the name of a revocable living trust to avoid probate. When the second home becomes the primary residence, and you apply for a Florida homestead exemption, your revocable living trust probably won’t contain any reference to Florida homestead laws – leading to a rejection of the homestead application.

The first step is to establish proof of domicile in Florida. Otherwise, you and your heirs may end up paying taxes as if you were still a resident of your previous state of residence.

To establish Florida residence, you should file a “Declaration of Domicile” with the clerk in the Florida county where you now live. It is also a good idea to change your driver’s license, voter registration, and car registrations within a few months of moving to Florida. All of these steps will go a long way to proving you have moved, even if you keep a house in another state for vacation or investment purposes.

Depending on which state you moved from, there are different rules about how many days you may spend in your old state without being considered a resident of that state. For example, former New Jersey residents can still be considered New Jersey residents for tax purposes if they maintain a home in New Jersey and spend more than 183 days per year there. State government websites are a good place to check for specific regulations.

If you maintain a house outside of Florida, it may still be subject to estate taxes in that state even if you have established residency in Florida. A Florida estate planning attorney can help with options for managing out-of-state property as part of your Florida estate plan or Florida Living Trust.

An estate planning attorney can be an invaluable asset to those wishing to protect and plan for a safe financial future. Contact one of the experienced Florida estate planning attorneys at Jurado & Farshchian, P.L., at (305) 921-0440, or email us at info@jflawfirm.com.

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