Short answer: Before the year ends, Florida residents may want to review seven parts of their estate plan: beneficiary designations, power of attorney and health care documents, trust funding, guardian nominations for minor children, recent life changes, how assets are titled, and instructions for digital accounts. For families in Vero Beach and Indian River County, a quick year-end review can catch small gaps before they turn into big problems for the people you love.
The holidays are a natural time to think about family. They can also be a good time to make sure your plan still matches your life. Here’s what to look at.
1. Are Your Beneficiary Designations Up to Date?
Life insurance, IRAs, 401(k)s, annuities, and payable-on-death bank accounts generally pass to whoever is named on the beneficiary form, not to the people named in your will. So if your form still lists an ex-spouse or a parent who has passed away, that form may control.
Florida law may automatically cancel some designations to a former spouse after divorce, but federal rules can override that for many employer retirement plans. It’s usually safest to check each account directly and name a backup beneficiary, too.
2. Do You Have a Current Power of Attorney and Health Care Surrogate?
A durable power of attorney lets someone you trust handle your finances if you can’t. A health care surrogate designation lets them make medical decisions. Without these documents, your family may need to go to court for a guardianship.
If your power of attorney was signed before Florida updated its law in 2011, or was signed in another state, it may still be valid. Even so, banks sometimes hesitate to accept older documents, and Florida requires certain important powers, like making gifts or changing beneficiaries, to be separately initialed. A review may be worth it.
3. Is Your Trust Actually Funded?
A revocable living trust may help your family avoid probate, but only for assets that are actually titled in the trust. We often see trusts that were signed years ago but never fully funded, or new accounts and properties that were opened outside the trust. Any assets left outside may still need to go through probate.
4. Have You Named a Guardian for Minor Children?
If you have children under 18, your will is generally where you nominate who would raise them if something happened to you. Florida also allows parents to designate a preneed guardian. If you’ve never named one, or your choice has changed, the end of the year can be a good time to update it.
5. Has Anything Big Changed This Year?
Marriage, divorce, a new child or grandchild, a death in the family, a move, retirement, or selling a business can all affect your plan. If you’ve remarried or have a blended family, it may be especially important to make sure your plan reflects what you want for both your spouse and your children.
6. How Are Your Assets Titled?
How you own property can matter as much as what your will says. Joint accounts, deeds, and “transfer on death” designations may pass outside your will entirely. Florida also has special homestead rules that may limit how you can leave your home if you have a spouse or minor child. If you’re a seasonal resident, our post on estate planning for Florida snowbirds covers how property in more than one state may be handled.
7. Does Anyone Know How to Access Your Digital Accounts?
Online banking, email, photos, social media, and cryptocurrency are now part of most estates. Florida law lets you give your personal representative or trustee permission to access digital accounts, but that permission generally needs to be in writing. Keeping a secure list of your accounts, and telling someone where it is, may save your family a lot of stress.
A Quick Note on Year-End Gifting
If you’d like to help family members now, the federal annual gift tax exclusion is $19,000 per recipient for 2026. Gifts generally need to be completed by December 31 to count for this year. The federal estate tax exemption is now $15 million per person, and Florida has no state estate or inheritance tax, so most Vero Beach families won’t owe estate tax. Even so, your plan does much more than handle taxes: it decides who makes decisions for you and who receives what you’ve built.
Frequently Asked Questions
How often should I review my estate plan in Florida? Many attorneys suggest a review every three to five years, and any time you have a major life change like a marriage, divorce, birth, death, or move.
Is a will from another state valid in Florida? Generally, yes, if it was valid where it was signed. But it may not reflect Florida’s homestead and probate rules, so a review may be helpful once you become a Florida resident.
Does my will override my beneficiary designations? Usually not. Accounts with a named beneficiary generally pass by that form, regardless of what your will says.
What happens if I don’t have a power of attorney in Florida? If you become unable to manage your affairs, your family may need to ask a court to appoint a guardian, which can take time and cost more than planning ahead.
Do I need to see an attorney for a year-end review? Not always, but an attorney may be able to spot issues that are easy to miss, like an unfunded trust or an outdated power of attorney.
Schedule Your Year-End Estate Plan Review
Jennifer Peshke helps individuals and families in Vero Beach and throughout Indian River County keep their estate plans current, clear, and ready when they’re needed. Learn more about our estate planning services.
Schedule your year-end estate plan review. November and December appointments may be limited, so contact us or call 772-231-1233.
This article is for general information only and is not legal advice. Reading it does not create an attorney-client relationship.