Estate planning in Miami is not a single document you sign and forget. It is a coordinated set of decisions that work together under Florida law. Use this practical checklist to make sure nothing important falls through the cracks, whether you live in Coral Gables, Brickell, or Westchester.
1. Inventory What You Own
Start by listing your assets: your home, bank and brokerage accounts, retirement plans, life insurance, and any business interests. Note how each is titled. In Miami’s hot real estate market, your homestead is often your largest asset, and Florida’s constitutional homestead protections (Art. X, Section 4) affect how it can pass at death. Jointly titled accounts and assets with named beneficiaries pass outside your will, so titling matters as much as the will itself.
2. Create or Update Your Will
A Florida will must meet the formal requirements of Section 732.502: it must be signed by you and witnessed by two people who sign in your presence and each other’s. Name a personal representative (Florida’s term for executor). Note that Florida law restricts who can serve, generally a Florida resident or a close relative.
3. Consider a Revocable Living Trust
Many Miami families use a revocable trust (Chapter 736) to avoid probate, keep matters private, and plan for incapacity. A trust only works if you actually retitle assets into it, so funding the trust is a step people often skip.
4. Sign a Durable Power of Attorney
Under Florida’s Power of Attorney Act (Chapter 709), a durable POA lets a trusted agent manage your finances if you become incapacitated. Florida POAs are effective when signed, not springing, and certain powers must be separately initialed. This document can spare your family a costly guardianship proceeding in Miami-Dade probate court.
5. Address Health Care Decisions
Add a designation of health care surrogate, a living will, and a HIPAA authorization. These let someone you trust speak with your physicians and honor your wishes about life-prolonging procedures.
6. Review Beneficiary Designations
Retirement accounts, IRAs, and life insurance pass by beneficiary form, not by your will. Confirm each designation is current, especially after a divorce, remarriage, or the birth of a child. An outdated form can send assets to an ex-spouse no matter what your will says.
7. Plan for the Homestead and Family
If you are married or have minor children, Florida’s homestead and elective share rules (Section 732.2065 and following) limit how freely you can leave your home. A surviving spouse has strong rights here, so coordinate your plan accordingly.
8. Note the Tax Picture
Good news for Miami residents: Florida has no state estate or inheritance tax. Most families face only the federal estate tax, which applies to very large estates. Still, income tax basis and retirement-account planning deserve attention.
9. Organize and Communicate
Store your documents safely and tell your personal representative and agents where to find them. List account logins, advisors, and key contacts.
Talk to a Florida Attorney
Estate planning rules vary by state, and Florida’s homestead and probate provisions are unusually specific. Before you finalize any document, consult a licensed Florida estate planning attorney in the Miami area to confirm your plan fits your family and complies with current law.
For more on our Florida practice, see our overview of powers of attorney in Florida. Morgan Legal Group's affiliated New York office also handles special needs planning in New York.
