Florida is a prime winter haven, and thousands of nonresidents buy homes, condos or investment properties here every year. While your current will or trust handles assets in your home state, it often hits a major roadblock when dealing with Florida real estate.
Owning property in the Orlando or east-central Florida region without specific local planning can force your family into a costly and slow court process, known as ancillary probate. However, you can take steps now to avoid it entirely.
The complications of ancillary probate
Ancillary probate is a second, separate court case required in Florida solely to handle real property located inside the state’s borders. State law mandates that real estate transactions be settled in the jurisdiction where the property is located, meaning your main probate case in a northern state like New York or Michigan holds no authority over your Florida condo or beach house.
This dual process can create real complications for your heirs, including:
- Hiring two different sets of lawyers
- Paying two sets of court fees
- Enduring significant administrative delays
While some ancillary probate cases may resolve quickly, formal ancillary administration in Florida generally involves a creditor claims period of at least 90 days, and it often takes six months or longer to complete the process and transfer legal title. However, this extra expense and complexity are usually unnecessary and avoidable.
Proactive Florida estate planning solutions
The best way to simplify multi-state planning is by changing how you title the property. This simple step makes sure the asset bypasses the Florida probate court entirely upon your death. Two standard options are:
- Revocable living trusts: You place your Florida property into this trust, which then legally owns the asset, allowing the property to transfer privately and seamlessly to your beneficiaries without court involvement.
- Florida enhanced life estate deeds: Also called “Lady Bird deeds,” these common instruments allow you to retain complete control of your property during your lifetime. After your death, the property automatically passes to your named beneficiaries outside of probate.
Because state laws vary so much, it is essential to work with an attorney familiar with multi-state planning. They will help ensure your plan is compliant in both your home state and in Florida, preventing costly conflicts for your family.
Secure your Florida legacy
Do not let your beautiful Florida investment become a costly burden for your loved ones. A dedicated Florida estate plan is the vital second half of your comprehensive strategy. It guarantees a smooth, efficient, and private transfer of your property when the time comes. Taking this proactive step ensures your family can enjoy the Florida legacy you intended.