Florida State Specific Information

Will, Trust, Power of Attorney, and Estate Planning

Official state laws:

Minimum age requirement to:

Holographic will NOT recognized (Section 732.502)

State taxes:

Estate tax: Equal to federal credit for state death taxes (Section 198.01 to 198.44)
State gift tax:Inheritance tax: No inheritance tax (Section 198.01 to 198.44)
- No state gift tax (Section 198.01 to 198.44)
- Anatomical Gift Act (Section 765.510 to 765.546)
Inheritance tax: No inheritance tax (Section 198.01 to 198.44)

Default rules: How property is distributed if there is no will, i.e. laws of intestate succession: (Sections 732.102 and 732.103)

No surviving spouse, but there are surviving children:
- All of the estate goes to the surviving children split equally among them or to their children in accordance to their per stirpes share
Surviving spouse and
- Children of surviving spouse:
  - $60,000 and one-half (1/2) to surviving spouse, and
  - The other one-half (1/2), split equally among your surviving children or to their children according to their per stirpes share
  - Children not of the surviving spouse (for example your children from a previous marriage):
    - One-half (1/2) to surviving spouse, and
    - The other one-half (1/2), split equally among the surviving children or to their children according to their per stirpes share
    - No children and both of your parents of deceased:
      - All of your estate will pass to your spouse
    - No children, but at least one of your parents survives you:
      - All of your estate will pass to your spouse
At least one parent survives you, but no surviving spouse or children:
- All of your estate will pass to your surviving parents equally
No spouse, children, or parents:
- Siblings (brothers and sisters) or to their children according to their per stirpes share. If none, then one-half (1/2) to maternal grandparents and the other one-half (1/2) to your paternal grandparents. If none, then to your next of kin

Who must be named as a beneficiary in your will:

Surviving spouse (Section 732.302), andChildren, born or adopted (Section 732.301)
- Surviving spouse must be given 30% of your estate (Section 732.2065)
Children, born or adopted (Section 732.301)

Effects of changes in your marital status on your will:

You are divorced from the surviving spouse:
- Revokes will as to divorced surviving spouse (Section 732.507(2))
You get married without changing your will that does not provide for your new spouse:
- Revokes will as to spouse, unless will expressly provides for spouse, but spouse may still be entitled to shares under state intestate law (Section 732.301)

Out of state executors: Allowed only if related by blood, marriage, or adoption to the person making the will (Section 733.304)

Witnesses:

Minimum number of witnesses required: Two (Section 732.502(1)(b))
Are witnesses allowed to be beneficiaries?: Yes (Section 732.504)
Requirements to be a witness, witnesses must:
- Be an adult, and
- not be related to you by blood or marriage

Property ownership (Section 689.11 and 689.15):

Common law state
Jointly tenancy property only includes survivorship if stated
If married, then property held by either party is presumed to create a tenancy by the entirety with survivorship
Bank account deposits held jointly are payable to any survivor named in the bank account

Other types of wills:

Self-proving wills recognized: Yes, recognized (Section 732.503)
Living will (Section 765-303) requires determination, in writing, by two physicians that you have a terminal condition, or are in a permanent state of unconsciousness, and cannot make your own healthcare decisions
Designation of Health Care Surrogate (Section 765-203)
Durable Power of Attorney (Section 709-08)