Is Your Estate Plan Up to Date? Key Ways to Protect Your Future

At the Law Office of Cameron H.P. White, P.A., we’re here to help Floridians secure their future.

An estate plan needs regular updates to keep up with life’s changes and the state’s specific legal landscape. A little time now can save you and your loved ones much more later on.

Life is always changing. Major life events—marriage, divorce, a new family member, or even buying property—may require adjustments to your estate plan. Shifts in finances and new laws in Florida also make periodic reviews essential.

Key Elements of Your Estate Plan

An estate plan is more than just a will. Consider these essentials:

• Will: Sets out how your assets will be passed on. Are you still in contact with your proposed personal representative? Do you want to maintain the same beneficiaries? Do you want to keep the same distributions?
• Trusts: From revocable to irrevocable, trusts help protect assets, especially with Florida’s homestead exemption. Are you still in contact with your proposed personal representative? Do you want to maintain the same beneficiaries? Do you want to keep the same distributions?
• Power of Attorney: Appoint someone you trust to handle finances or healthcare if you’re unable to. Have you discussed your Power of Attorney with your designated agent? Have you named a successor agent, and if so, do you still feel comfortable with them serving? Have you provided your POA to your employer or financial institution?
• Healthcare Surrogate & Living Will: Ensures your healthcare wishes are respected. Are you still in contact with your proposed healthcare agents. Have you provided these documents to your medical providers? Do you need to update the contact information of your agents? Are your agents comfortable making your medical decisions when you cannot?

Signs It’s Time for a Review

Consider a review if:

• You’ve moved to Florida or bought property here.
• You’ve gone through significant life events, like marriage or family growth.
• Your financial situation has changed.
• Acquired additional investments
• Started a business or joined a business

Florida-Specific Considerations

• Homestead Exemption: Florida’s homestead exemption offers unique protections for your primary residence, shielding it from certain creditors. However, specific rules apply to ensure these protections are in place.
• Digital Assets: Florida law allows you to designate access to online accounts, from banking to social media, ensuring your digital presence is handled according to your wishes.
• Healthcare Directives: Florida has its own requirements for healthcare directives, so it’s crucial to ensure your living will and healthcare surrogate align with state regulations.

Addressing these Florida-specific factors in your estate plan helps protect your assets and provides peace of mind. A tailored plan can prevent future confusion and ensure a smooth transition for your loved ones.

Have you updated your beneficiary designations on all life insurance policies, investment accounts, bank accounts, etc.?

Don’t Wait – Take Control Today

An up-to-date estate plan is one of the most valuable steps you can take to protect your legacy and secure peace of mind for those you care about. With the right planning, you can ensure that your wishes are honored and your loved ones are provided for. Contact us today at (407) 792-6011 to schedule your consultation and start planning for a confident future.