Florida is a popular destination for individuals looking to move to a warmer climate, especially for snowbirds seeking to escape harsh winters in states like New York and New Jersey. As you plan your move to the Sunshine State, one essential task you should consider is updating your Last Will and Testament to comply with Florida law. As a new Florida resident, you might be wondering something like, “Is my New York will good in Florida?” (if you’re from New York, bring me some fresh NYC bagels for a discount on your Estate Plan) or “Is my New Jersey will good in Florida?”, or even something like, “Is my Canadian will good in Florida?” While your out-of-state will might technically be valid, there are several reasons why it’s wise to create a new will that is specifically tailored to Florida law. In this blog post, we’ll explore why you should redo your will after moving to Florida, specifically focusing on Lee County and other popular areas for snowbirds.
State-Specific Requirements for Wills
Each state has its own set of requirements for creating a valid will. While Florida law generally recognizes a will that’s valid in the state where it was executed, it’s essential to understand that Florida has unique requirements when it comes to will execution. In Florida, a Last Will and Testament must:
Be in writing, either typed or handwritten.
Be signed by the testator (the person creating the will) at the end of the document.
Be witnessed by at least two individuals, who must sign the will in the presence of the testator and each other.
In contrast, New York and New Jersey have different rules about how a will can be executed. For example, at the time of writing this blog post, it appears that New York even allows for nuncupative (oral) wills in certain circumstances, which would never be permitted under Florida law. If your out-of-state will doesn’t meet these Florida-specific requirements, it could be deemed invalid, which could result in your estate being distributed according to Florida’s intestacy laws rather than your wishes.
Florida Homestead Laws
Florida’s homestead laws provide unique protections for homeowners and their surviving spouses and minor children. When you purchase a home in Florida, you may be able to claim it as your homestead, which can provide significant property tax benefits and protect your home from creditors. However, Florida’s homestead laws also place restrictions on how you can devise (leave) your homestead property in your will.
If you have a spouse or minor child, you cannot devise your homestead property to anyone other than your spouse, and even then, only if there are no minor children. If your out-of-state will doesn’t account for these restrictions, your will could be deemed partially invalid, and your homestead property could be distributed according to Florida intestate law instead.
Estate Planning Documents and Florida Law
In addition to your Last Will and Testament, you may have other estate planning documents, such as a Durable Power of Attorney, a Living Will, or a Health Care Surrogate Designation. While moving to Florida, it’s essential to ensure that these documents are updated to comply with Florida law. For example, Florida has specific requirements for executing a Durable Power of Attorney that may differ from those in your previous state of residence.
Tax Implications of Moving to Florida
One of the benefits of becoming a new Florida resident is that there is no state income tax. However, there may be other tax implications to consider when moving to Florida. Your estate plan, including your will, should be updated to account for any potential changes in your tax situation. A Florida-based estate planning attorney can help you navigate the complex tax implications of moving to the Sunshine State and ensure that your will and other estate planning documents are optimized for your new circumstances. If you have a will from a place with estate taxes there could be significant portions of your old will that are unnecessary, or even worse ambiguous.
Changes in Life Circumstances
Moving to Florida may also bring about significant changes in your life circumstances, such as selling your previous home, purchasing a new one, or developing new friendships and relationships. These changes might impact your estate planning goals and the way you wish to distribute your assets. As a new Florida resident, it’s essential to review and update your will to ensure that it reflects your current intentions and takes into account your new life in Lee County or another part of Florida.
Avoiding Probate and Simplifying the Estate Administration Process
Florida’s probate process can be lengthy and expensive, especially if your will is contested or if there are any ambiguities in your estate planning documents. By updating your will after moving to Florida and consulting with an experienced Florida estate planning attorney, you can ensure that your will is clear and complies with Florida law, which can help to minimize the potential for disputes and simplify the estate administration process for your loved ones.
Peace of Mind for You and Your Family
Ultimately, one of the most significant benefits of redoing your will after moving to Florida is the peace of mind it can provide for both you and your family. Knowing that your will is tailored to Florida law and reflects your current wishes can help alleviate any concerns about the distribution of your assets and the well-being of your loved ones after your passing, and help make sure your beneficiaries have an easy Florida probate process.
Conclusion
As a new Florida resident, it’s crucial to take the time to review and update your Last Will and Testament to ensure it complies with Florida law and reflects your current wishes. If you’re a snowbird or a permanent resident moving to Lee County, Florida, or another part of the state, consult with an experienced Florida estate planning attorney who can help guide you through the process of updating your will and other estate planning documents.
By doing so, you can enjoy your new life in the Sunshine State with the confidence that your estate plan is optimized for your circumstances and provides the best possible protection for your loved ones. Don’t let the question, “Is my New York will good in Florida?” or “Is my New Jersey will good in Florida?” linger in your mind. Reach out to a trusted attorney and ensure your peace of mind as you settle into your new home in Florida.
