Florida is the #1 most popular state for retirees
About 55,000 Americans over 55 move to Florida every year. Join two Florida attorneys, Brian Duffey and John Cappeller, as they share the critical things you must know if you are representing clients who own property or plan to move to Florida. You’ll get answers to your questions and also identify when you may need the assistance of local counsel to deal with Florida matters.
New tax reforms may impact your client’s estate plan
Many of your clients in Florida have substantial assets in irrevocable trusts that were created under the paradigm of an estate and generation skipping transfer tax. If the new administration is successful in reforming the tax regime, thousands of those clients will be scrambling to figure out a way to modify, amend or terminate those trusts. It is critical that you as their attorney know and understand any new rules.
Key areas where Florida law may differ
- Homestead – Explore debtors and creditors rights on Florida real property and learn how the homestead law impacts the passing of property to heirs, tax obligations and claims by creditors.
- Probate Administration – Discover the nuances of Florida estate administration and when to retain local counsel.
- Trust Administration – If your client is moving to or owns property in Florida, does that Pennsylvania resident’s estate plan still work? Can you use post-mortem techniques to correct an estate plan under Florida law?
- Real Property – Understand how to title real property in Florida, what you need to know about Florida Land Trusts Statute, how Florida has become a target for investments by foreign nationals and how to manage the impact of that trend on buyers.