Components & Maintenance Of Estate Planning In Florida

In this article, you can discover:

• Regular reviews and updates to your estate planning documents are crucial, at least every three years or after significant life changes.
• While it’s technically possible to create estate planning documents yourself, hiring a knowledgeable attorney can ensure a comprehensive and accurate plan.
• The laws of the state where the estate planning documents are created generally apply, even if you live part of the year in another state.

What Are The Important Components That Should Be Part Of Every Individual’s Estate Plan In Florida?

Every individual’s estate plan is unique, depending on their personal situation and assets. However, at the very least, everyone should have a will to guide the distribution of their estate after their passing.

How Often Do I Need To Review My Estate Planning Documents? Can I Make Changes Or Updates At Any Time?

Estate planning documents should be reviewed at least every three years, or anytime there’s a significant change in one’s life like marriage, childbirth, a death in the family, or a significant increase in assets. Most estate planning documents can be amended anytime, except for an irrevocable trust.

We Live Out Of State For Part Of The Year. Will Our Estate Planning Documents Created In Florida Or Our Home State Transfer?

The law of the state where the estate planning documents are created will apply, thanks to the full faith and credit clause in the Constitution. However, the distribution of real property follows the laws of the state where the property is located.

Do I Need A Florida Estate Planning Attorney, Or Can I Do This On My Own Or With An Online Estate Planning Service?

While it’s technically possible to create estate planning documents on your own or through an online service, it’s advisable to consult with a knowledgeable attorney. This ensures that your documents are comprehensive, accurate, and personalized to your specific needs and situation. A small investment now can prevent hefty legal fees in the future to resolve any issues arising from incomplete or incorrect documents.

For more information on Components & Maintenance Of Estate Planning in FL, an initial consultation is your next best step. Get the information and legal answers you seek by calling (305) 606-6139 today.