Signing your estate plan is not the finish line. Life changes, the law changes, and a plan that was perfect five years ago can quietly drift out of date. If you live in Key West, here is a plain-English guide to when you should pull your documents out of the drawer and give them a fresh look.
The Simple Rule: Every Few Years
Even if nothing dramatic has happened, it is wise to review your will, trust, and powers of attorney every three to five years. Beneficiary forms drift, named agents move away or pass on, and your assets change. A quick review now is far cheaper and easier than a court fight for your family later.
Life Events That Should Trigger a Review
Certain moments should prompt an immediate look, no matter how recently you updated:
- Marriage or divorce. These dramatically change spousal rights, including Florida’s elective share and homestead protections.
- A new child or grandchild. You may want to add beneficiaries or set up protective trusts.
- A death in the family. If the person who died was your executor, trustee, agent, or a beneficiary, your plan likely needs revising.
- A major change in assets. Selling a business, buying a second property, or a significant inheritance can shift your whole strategy.
- A health diagnosis. This is the moment your durable power of attorney and health care directives matter most.
Moving to Florida? Read This First
This is a big one for Key West, where many residents arrive from other states. Documents drafted elsewhere may still be valid in Florida, but they may not take advantage of Florida-specific rules, and some may not work cleanly here. Florida’s durable power of attorney law (Chapter 709) is particular about how the document is written, and an out-of-state form can leave your agent without the powers you intended. A move is the ideal time for a full Florida-based review.
Claiming Your Key West Homestead
If you have made Key West your permanent residence, your home likely qualifies for Florida homestead protection under Article X, Section 4 of the state constitution. Homestead carries unique inheritance and creditor-protection rules that should be reflected in how your home is titled and how your plan distributes it. Establishing homestead is a natural prompt to revisit the whole plan, and to consider whether a tool like a Lady Bird deed (an enhanced life estate deed) fits your goals for passing the home outside probate.
When the Law Changes
Florida updates its probate and trust statutes over time, and federal tax thresholds shift. While Florida itself has no state estate or inheritance tax, federal rules and procedural details can still affect your plan. A periodic check keeps your documents aligned with current law.
Don’t Forget the Beneficiary Designations
Retirement accounts, life insurance, and payable-on-death accounts pass by their own beneficiary forms, not by your will. These are the most commonly overlooked part of any plan. Review them every time you review your documents, because an outdated form can send money to an ex-spouse no matter what your will says.
Talk With a Florida Attorney
A review does not always mean a rewrite, but it often catches problems before they become emergencies. If any of these triggers apply to you, or it has simply been a few years, connect with a licensed Florida estate planning attorney serving the Key West area. This article is general information, not legal advice.
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For more on our Florida practice, see our overview of estate planning in Boca Raton. Morgan Legal Group's affiliated New York office also handles .
