Top 10 Reasons People Estate Plan in Florida

Estate planning isn’t just for the wealthy—it’s for anyone who wants to protect their loved ones and make sure their wishes are carried out. In Florida, estate planning is especially important because of the state’s unique probate system, large retiree population, and property ownership trends. Here are the top 10 reasons Floridians create estate plans, along with real-world examples.

1. Avoiding Probate

Probate in Florida can be time-consuming and costly, often taking months or even years to complete. Many people create revocable living trusts, name beneficiaries on bank accounts, or use “lady bird deeds” for real estate to keep assets out of probate. 

Example: A retiree in Miami placed her condo into a revocable trust. When she passed, the condo transferred directly to her children without going through probate court.

2. Protecting Minor Children

Parents use wills and trusts to name guardians for their children and manage assets responsibly until the kids are old enough. 

Example: A couple in Orlando with two young kids created a will naming a trusted relative as guardian and set up a trust to release funds to the children at ages 25 and 30, instead of all at once at 18.

3. Ensuring Medical & Financial Decision-Making

Accidents and illness can strike at any age. By signing a health care surrogate designation and durable power of attorney, people choose who will make decisions if they can’t. 

Example: A Jacksonville man with early-onset Parkinson’s named his sister as his health care surrogate so she could handle medical decisions on his behalf.

4. Avoiding Family Conflict

Blended families and estranged relatives can lead to disputes if instructions aren’t clear. Estate planning minimizes these risks. 

Example: A man in Tampa had children from two marriages. His estate plan clearly divided his assets between his current spouse and his children, preventing arguments after his passing.

5. Preserving Wealth for Heirs

Trusts and tax planning can help shield wealth from creditors or irresponsible spending. 

Example: A Naples grandmother created a spendthrift trust for her grandson, ensuring he receives small distributions over time rather than spending everything at once.

6. Real Estate Ownership in Florida

Florida is home to retirees and snowbirds who own property in multiple states. Without planning, their heirs might face probate in each state. 

Example: A couple from New York with a vacation home in Palm Beach used a trust to keep both their Florida and New York properties out of probate.

7. Long-Term Care & Medicaid Planning

The cost of nursing homes can drain life savings quickly. Estate planning can prepare families for these expenses while preserving assets. 

Example: A widow in St. Petersburg worked with an attorney to move certain assets into a Medicaid-compliant trust, helping her qualify for benefits while still protecting her home for her children.

8. Business Succession Planning

Small business owners use estate planning to ensure smooth transitions. 

Example: A Fort Lauderdale restaurant owner included a succession plan in her trust, passing ownership to her daughter while leaving clear instructions for the staff and vendors.

9. Disability or Incapacity Planning

Florida has a large senior population, and planning for dementia, stroke, or other illnesses is common. 

Example: An elderly couple in Sarasota created durable powers of attorney, so when the husband developed dementia, his wife could manage their finances without going to court for guardianship.

10. Avoiding or Minimizing Estate Taxes

Florida has no state estate tax, but high-net-worth individuals still plan to minimize federal estate taxes. 

Example: A wealthy couple in Naples used lifetime gifting strategies and an irrevocable trust to reduce the taxable value of their estate and protect wealth for future generations.

Estate planning in Florida isn’t just about distributing property—it’s about protecting your family, avoiding unnecessary costs, and ensuring peace of mind. Whether you’re a young parent, retiree, or business owner, having the right documents in place can make all the difference for your loved ones.

For more information, contact our office at Askew & Associates, P.A. by calling 954-546-2699.

Disclaimer: this blog post is not intended to be legal advice. We highly recommend speaking to an attorney if you have any legal concerns.