Changes in Florida Homestead Laws Could Affect Your Estate (Part B)

With new Florida Homestead rules in place today, you should speak about your estate planning with an attorney, in Fort Myers, Florida, to ensure that any future pitfalls are avoided. An experienced attorney can help you navigate this complex area of the law and get a firm understanding of how to protect your loved ones.

Potential Problems for Survivors

It's well known that the value of a house will rise and fall over certain periods of time. If you inherit a house that significantly increases or decreases in value, you'll have to decide what your goal is for the house. If the house is debt-ridden and you don't want to keep it, deed in lieu of foreclosure is an option.

If the house has tremendously increased in value, your heirs can sell it and pay taxes on the profit
. If they decide to keep it, they'll have to pay property taxes. If the house has a mortgage and your heirs intend to live in it after you die, they'll be responsible for paying the mortgage.

How an Estate Planning Attorney in Fort Myers, Florida, Can Help

A major part of estate planning is a will. If you don't have a will, now is a good time to call an attorney and get started. Although Florida homestead laws will not overlook your spouse and children, it's a good idea to detail your wishes in your will.

If you own multiple properties, for example, you should specify exactly who should get which property. This can help avoid confusion and probate litigation.

Since we touched on just a few Florida homestead issues, you should schedule a consultation with an attorney to discuss any other issues or concerns that you may have. The earlier you start your estate planning, the sooner you will have peace of mind.

Help from an Estate Planning Attorney in Fort Myers is Just a Phone Call Away

Fort Myers estate planning attorney Matthew A. Linde understands firsthand the importance of careful estate planning and the complexities of financial legal matters, such as probate, tax litigation and guardianship. For help with your Florida homestead concerns, contact our Fort Myers office to schedule a one-on-one meeting with a professional who can answer your questions - 239-939-7100 or 844-764-5492.