Many older adults retire to Florida, but some people only spend part of the year in Florida. Snowbirds often start spending the winter months in Florida after their retirement or the development of certain medical symptoms. They seek out a warmer, more pleasant climate to enjoy their retirement years or limit their physical discomfort during the winter months.
Depending on the state where snowbirds originally lived, it may be cold or unpleasant back home for much of the year. They may eventually find themselves spending more time in Florida than in the state where they previously lived and raised their family. The more time that snowbirds spend in Florida, the more important it becomes for them to review and potentially update any estate planning documents they have already created.
Relocations make revisions necessary
Those who have acquired property in Florida likely need to revisit their estate plan even if their primary residence is still in another state. The documents that they drafted previously may not include all of their assets located in Florida. Additionally, they may need to add secondary documents in case they require certain forms of support while in Florida as opposed to the other state. Every state has different standards for advance directives.
If they consistently spend more time in Florida than they do in the other state, they may need to make significant changes to their estate planning paperwork. Florida may be where their estate passes through probate court. Any living documents may require revisions to be compliant with Florida’s statutes. They may also need to revise wills that may contain inappropriate or illegal terms.
For example, Florida is the only state in the country that refuses to enforce no-contest or penalty clauses. While the inclusion of such clauses in an estate plan does not automatically invalidate it, it could give the testator of false sense of confidence that results in conflicts among their beneficiaries later. Additionally, those who split their time between two states may have more assets and more nuanced support needs than those who spend all of their time at one primary residence.
Adding new documents to an existing estate plan or significantly modifying the paperwork to better conform to Florida laws can both be necessary moves for those worried about their protection as they age and the legacy they’ll leave when they die.
