Estate Planning in Florida

Estate planning in Florida carries unique considerations due to the state's large retiree population — over 4.6 million residents are age 65 or older. A basic will preparation costs $400-$1,000, while a comprehensive revocable living trust package runs $2,000-$4,500. Florida does not have a state estate tax or inheritance tax, making it an attractive domicile for wealthy individuals relocating from high-tax states. However, the Florida probate process can be lengthy and expensive — formal administration costs typically run 3-6% of the estate value. This makes revocable living trusts especially popular as a probate avoidance tool. Lady Bird deeds (enhanced life estate deeds) are commonly used in Florida to transfer real estate outside of probate while maintaining homestead tax exemptions. Florida's homestead creditor protection laws are among the strongest in the nation, protecting the primary residence from most creditors during lifetime and after death. Advanced directives, health care surrogates, and durable powers of attorney are critical documents in Florida estate plans, typically adding $300-$500 to the total package cost.