If you’ve recently moved to Florida, take some time to update your estate plans. According to U.S. law, your will doesn’t have to be written in your state of residence to be declared legally valid. However, every state has different rules for estates and inheritances, which can make some parts of your will invalid.
Why should you update your estate plan after you move?
During the initial estate planning process, you might have consulted an attorney about the tax and inheritance laws in your state. Now that you’ve moved to Florida, your estate will be subjected to a completely different set of laws. While some parts of your will might still be valid after your death, other parts might have to be thrown out.
Additionally, some hospitals won’t recognize health care directives that were written in another state. You might have to revise your health care proxy and power of attorney documents to make sure that they comply with Florida’s laws and policies. If you don’t, your instructions might not be honored while you’re incapacitated. Your documents could be thrown out altogether if they’re completely incompatible with the state of Florida’s laws.
How can you revise your estate plan?
To revise your estate plan, consider hiring an attorney to educate you on Florida’s laws regarding estates and inheritances. This may help you write a new plan that divides up your assets in a way that’s compatible with the state’s laws.
An attorney may also help you revise your health care directives and other documents. This ensures that your final wishes will be observed if you’re unable to make decisions yourself. Additionally, you could protect your family members by ensuring that your estate is divided up in a quick and orderly fashion.