Every year, scores of New York residents move to Florida. For so-called “snowbirds,” this move is temporary, typically lasting until the weather up north warms up. For others, however, the move from New York to Florida is permanent. Whether you are moving from New York to Florida temporarily or permanently, there are several possible estate planning consequences you should be aware of. Below are some common estate planning issues that New York residents should consider before moving to Florida.
Disqualified personal representative listed in a will
In Florida, the individual named to serve as the personal representative of a Florida estate is required to either be a Florida resident or related to the testator. Therefore, if a will drafted in New York lists anyone else as the testator’s personal representative, that individual will be disqualified from serving in that role in Florida.
A will isn’t self-proved
In Florida, a will can be made self-proved when a testator signs an affidavit in front of a Notary Public and two witnesses who also sign the affidavit in the presence of the testator. This affidavit may then be used as evidence proving a will’s validity. However, many New York wills don’t fulfill this requirement.
Revocable living trust ignores homestead laws
Some New Yorkers who purchase a second home in Florida title the home in the name of a revocable living trust. However, when an out-of-state owner decides to move into his or her Florida home permanently and applies for the Florida homestead exemption, the application will be denied.
Inadequate durable power of attorney
In order to delegate powers to an agent under a power of attorney in Florida, specific language must be used. If such language isn’t included, the power of attorney will be deemed invalid. Therefore, all New Yorkers with property in Florida should consider signing a new power of attorney that is applicable to Florida law.
Are you making the move from New York to Florida? Contact a Florida and New York estate planning attorney today!
All of the issues listed above can be remedied with the assistance of an experienced Florida and New York estate planning attorney. At the Law Office of Angela Siegel, we provide comprehensive estate planning services to clients who reside in New York, to those who reside in Florida, and to snowbirds who split time between both states. Angela Siegel is licensed to practice law in both New York and Florida, and she regularly assists residents of both states with their estate planning needs. Keenly aware of the special estate planning and tax issues affecting New York and Florida residents, Angela Siegel regularly creates wills, health care proxies, living wills, powers of attorney, and revocable living trusts for residents of both states. If you require estate planning assistance, please contact us today for a consultation.