Are you moving? Have you prepared an estate plan to secure your future? If you have taken this step to plan forward for yourself and your loved ones then you may believe your job was finished once you signed it with your estate planning attorney. Unfortunately, when you move, this is rarely the case. In fact, your out-of-state estate plan may not work in Florida.
Your estate plan is not static but is a tool that needs to change over time as your personal, professional, and legacy goals change. One of those times when you should consider updating your estate plan is when you move to a new state, and this holds especially true for new Florida residents.
Your out-of-state estate plan was created based on the laws and requirements of the state that you lived in when it was created. Even though you have control over the design of your legacy and your decision makers, there are some parts of your planning that you do not have control over. For example, your state may have laws that govern how your beneficiaries can inherit or who can serve as your personal representative. These rules and requirements may be very different in your new state and, should you fail to update it, your estate plan could be invalid.
All state laws are not uniform. This means that laws between the states can vary. When you move to another state you need to make sure that the estate plan you have created remains valid. An experienced estate planning attorney can let you know if your out-of-state estate plan will work in Florida. If your out-of-state estate plan does work, do not forget that this still may be a good time to look at the information contained within it so you may determine if your plan still reflects your wishes the way it is.
Your Florida estate planning lawyer will know about any changes that need to be made. Remember, finding the right lawyer is crucial. We encourage you to contact us to set up an appointment to review your out-of-states estate plan to determine if it needs to be changed since you moved to Florida.