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Question on Trusts

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Question on Trusts
  #1  
Old 02-11-2018, 12:31 AM
tom_sjc tom_sjc is offline
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Default Question on Trusts

Not sure if this is the right place for this, wife and I have a trust set up by an attorney in CA. Is this valid in FL?

Do we need to see a FL attorney?

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Old 02-11-2018, 12:47 AM
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Googled it and according to legalzoom living trusts are good in any state.

Any comments to the contrary?
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Old 02-11-2018, 06:45 AM
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Yes, it's a good idea to have it reviewed by a lawyer here. There are laws that vary from state to state. You don't need a whole new one, but you might have to edit a little.
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Old 02-11-2018, 07:06 AM
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Is My Will Still Valid If I Move to Another State?

According to this Elder Law site it would be a good idea to have a Florida attorney look it over. We relocated from NH and had McLin Burnsed redo our wills and trusts. I can tell you that Florida is a lot more generous when you die than the State of NH.
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Old 02-11-2018, 07:22 AM
Kahuna32162 Kahuna32162 is offline
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Your trust should always be reviewed every few years as things in life change. We did have to have our powers of attorney updated once we moved to Florida full time. Also medical POA.
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  #6  
Old 02-11-2018, 10:03 AM
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I agree with above, especially the medical POA, but up North this was 2 or 3 pages, down here i think it is 19 pages! We used Amy Pittman, very pleased with her work. Also, when you meet with her or another attorney double check any other financial documents and wills as there maybe conflicts.
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Old 02-11-2018, 10:05 AM
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Thanks for the advice.
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Old 02-11-2018, 10:49 AM
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Just remember that a trust is not like a will. A will needs to be executed by a Florida court, but a trust is executed by the trustee and doesn't need to go through a probate court. So, it is less important to be concerned about Florida law. Not to say that a Florida lawyer would not be helpful.

I am the trustee for a trust that was prepared in Virginia. Several lawyers in Florida have recommended that I keep the trust "situs" in Virginia and use a Virginia lawyer for advice. They will not provide any advice about a non-Florida trust. If you use a Florida lawyer, they will probably require that you prepare a new trust which will probably cost more than the one you already have and be more complicated.

Last edited by retiredguy123; 02-11-2018 at 11:02 AM.
We should rewrite our will
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Old 02-11-2018, 11:48 AM
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Default We should rewrite our will

Quote:
Originally Posted by tom_sjc View Post
Not sure if this is the right place for this, wife and I have a trust set up by an attorney in CA. Is this valid in FL?

Do we need to see a FL attorney?
Thanks-you've moved a will rewrite a bit further up on our priority list.
RE: your trust question.
Do you have your current Villages home in your will-I know we do not.
Your TRUST, they are usually set up for tax reasons. Not sure how the new tax bill effects your or our tax issues.

As suggested by others-probably a good idea to have it reviewed.

PERSONAL EXPERIENCE-my parents passed away several years ago. Unfortunately, at that time there was a lot of tension between my sister and myself. My parents did not have much but, each item they had of any value was stated who it goes to. As stated we already had issues between my sister and myself. I was so happy that my parents split their estate evenly and in a moment of grief
with rattled nerves there was no disputes.
As to updating your will-my niece who was not born at the time the will was last updated UNFAIRLY was left nothing.
I have an inherited IRA complete with the forced withdrawals. A gift that keeps on giving. I. as forced to, take the minimum withdrawal and give it to my niece.
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Old 02-11-2018, 11:54 AM
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Quote:
Originally Posted by aninjamom View Post
Yes, it's a good idea to have it reviewed by a lawyer here. There are laws that vary from state to state. You don't need a whole new one, but you might have to edit a little.
Three lawyers in Florida have told me that they will not review or provide any advice for a trust prepared in another state. The only thing they will do is to prepare a new trust. They advised me to consult with a lawyer in the state where the trust was prepared.
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