A longtime Palm Beach resident drafted a solid estate plan, then tucked it in a drawer and forgot about it. Over the next decade she divorced, remarried, sold her old house, bought a condo near the water, and welcomed two grandchildren. When she passed, her documents still named her former spouse and left out the grandchildren entirely. The plan was not wrong when she signed it. It was simply out of date. An estate plan is a living thing, and Florida law gives plenty of reasons to revisit it.
Treat It Like a Health Checkup
Even with no major changes, a good rule is to review your plan every three to five years. Laws shift, your assets grow, and the people you named as personal representative, trustee, or agent may no longer be the right fit. A periodic review catches small drifts before they become real problems for your family in Palm Beach County.
Life Events That Demand a Review
- Marriage or divorce: Florida law affects how a former spouse is treated, but you should never rely on default rules. Update beneficiary forms, your will, and any trust promptly.
- Birth or adoption: New children or grandchildren may need to be added, and guardianship designations for minors revisited.
- Death of a key person: If your named executor, trustee, agent, or a primary beneficiary dies, your plan may have gaps.
- Buying or selling real estate: A new Palm Beach home or condo may need to be deeded into your trust, and homestead status (Article X, Section 4) considered.
- Significant change in wealth: An inheritance, business sale, or windfall can change how your plan should distribute assets.
Check the Documents, Not Just the Will
People fixate on the will and forget the rest of the toolkit. Your durable power of attorney under Chapter 709 should still name an agent you trust and remain current with what banks will accept. Your health care directive and designation of health care surrogate should reflect your wishes and your chosen decision-makers. A revocable trust under Chapter 736 needs to stay funded as you acquire new assets, an unfunded trust is a common and costly oversight.
Beneficiary Designations Quietly Override Everything
Life insurance, IRAs, 401(k)s, and payable-on-death accounts pass by beneficiary form, not by your will or trust. These designations override your other documents, so a forgotten ex-spouse listed on an old policy can inherit despite everything else you signed. Reviewing these forms is one of the highest-value, lowest-effort steps you can take.
Moving To or From Florida
If you recently moved to Palm Beach from another state, have your plan reviewed under Florida law. Out-of-state wills and trusts may be valid here but can interact awkwardly with Florida homestead and the elective share. Conversely, Florida has no state estate or inheritance tax, which may change the calculus you brought with you from a higher-tax state.
Make Review a Habit
Mark a recurring reminder, and pair each major life milestone with a quick look at your plan. The cost of an update is small compared with the confusion, expense, and probate that an outdated plan can cause your loved ones.
This article is general information, not legal advice. Whether and how to update your plan depends on your circumstances and current Florida law. Consult a licensed Florida estate planning attorney to review and revise your documents.
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