Estate Planning Lawyers in Florida

Estate Planning in Florida

Estate planning in Florida encompasses the preparation of wills, trusts, and powers of attorney to manage an individual's estate during their life and after their death. Florida law requires that wills be in writing, signed by the testator, and witnessed by at least two individuals. Unlike some states, Florida does not recognize holographic (handwritten) or nuncupative (oral) wills. Trusts are also a common estate planning tool in Florida, offering a way to manage and protect assets. Revocable living trusts are popular because they can help bypass the probate process, which can be lengthy and costly. Probate in Florida is a judicial process that validates a will and oversees the distribution of assets. The state has two types of probate: formal administration and summary administration. Summary administration is available for estates valued at $75,000 or less or if the decedent has been dead for more than two years. Formal administration is more comprehensive and required for larger estates. Florida also offers a simplified probate process for small estates. Powers of attorney and healthcare directives are integral to estate planning in Florida. A durable power of attorney allows an individual to designate someone to make financial decisions on their behalf if they become incapacitated. Similarly, a healthcare surrogate designation appoints someone to make medical decisions. These documents ensure that an individual's wishes are respected even if they cannot communicate them.

Florida Laws & Regulations

Florida's homestead laws provide significant protection to residents, preventing forced sale of a primary residence by creditors, with some exceptions. This protection extends to the surviving spouse and minor children, making it a critical consideration in estate planning. Florida also has a unique elective share law, which allows a surviving spouse to claim 30% of the decedent's elective estate if they are left out of the will or not adequately provided for. Another key aspect of Florida estate law is the lack of a state estate tax, which simplifies planning for many residents. However, federal estate tax laws still apply, and individuals with substantial estates should consider strategies to minimize federal tax liability. Trusts and gifting strategies are often employed to mitigate these taxes. Florida also mandates that any individual acting as a personal representative of an estate must be either a Florida resident or a close relative of the decedent to qualify. This restriction ensures that the representative has a connection to the state, facilitating more efficient estate administration.

Typical Attorney Costs in Florida

The Florida Bar

How to Find a Estate Planning Lawyer in Florida

Finding an estate planning lawyer in Florida can begin with a search through The Florida Bar's directory, which allows you to verify a lawyer's credentials and practice areas. Personal referrals from friends or family who have undergone the estate planning process can also provide trustworthy recommendations. Consider the lawyer's experience with Florida-specific estate laws, especially if your estate involves unique assets or circumstances. Initial consultations are often available to discuss your needs and assess the lawyer's approach and compatibility with your planning objectives.

Estate Planning Attorneys in Florida

Lawyers listed in our directory

Frequently Asked Questions