Florida Snowbird Estate Planning

Estate Planning in Florida for Newly Retired Residents

When you move south for retirement, many might be focused on a warmer climate. Don’t let estate planning slip your mind during this time. It’s important to know that what you planned in your northern state might create unintended consequences when it becomes to relocating to Florida or when it comes to Florida snowbird estate planning.

You should meet with an attorney to review your estate plan upon relocation, especially if you intend to own properties in more than one state. Depending upon the laws of each state, your family may be required to open multiple probates in each state where you have assets in your own name.

What else should you know when you move to Florida?

Did you know that your Personal Representative either needs to be a blood relative, spouse, or they need to be a Florida resident? What if you chose a bank? If they aren’t authorized in Florida, this may cause problems. So, if your friend up in Vermont is the person you chose to oversee your will, you’ll need to change this information when you move to Florida. Otherwise, you leave this decision to the discretion of Florida law and the court, instead of giving thought to whom you trust.

Florida laws may be different than your previous state’s laws and you could be missing out on important estate planning and tax-saving strategies. Be sure to contact us, so we can help you navigate your Florida Snowbird Estate Planning as smoothly as possible for you.