The end of the year is one of the best times to check your estate plan. Before December 31, Florida families should review their documents, look back at life changes, confirm beneficiaries, make any annual gifts, check that their trust is funded, confirm their homestead exemption, and organize their accounts and tell family where everything is. One of these steps has a hard December 31 deadline, and the rest are easier to handle now than in an emergency.
The 7 things to finish before December 31:
- Find, read, and update your core documents
- Look back at what changed this year
- Review your beneficiary designations
- Make annual gifts before December 31
- Check that your trust is funded
- Confirm your homestead exemption
- Organize your accounts and tell your family where things are
For the essential documents every Florida adult should have, download our free Florida estate planning checklist.
1. Find, Read, and Update Your Core Documents
Start by locating your will, trust, durable power of attorney, health care surrogate designation, and living will. Then read them. Ask whether the people you named are still the right choices, and whether the instructions still match your wishes.
If you have minor children
If you have children under 18, your plan should name who would care for them if something happened to you. Review that choice each year, since the right person can change as your children and family grow.
If you don’t have documents, or signed them in another state
If you don’t have these documents, or you signed them before moving to Florida, put that at the top of your list for the new year. Florida has its own rules for homestead, powers of attorney, and health care decisions. (Moving to Florida? What to update in your estate plan)
2. Look Back at What Changed This Year
Life events are the most common reason a plan goes out of date. Did any of these happen this year?
- A marriage, divorce, or new partner
- A birth, adoption, or a child turning 18
- A death in the family, or a named person who can no longer serve
- A move to Florida or a new home
- A new business, a sale, an inheritance, or a large change in wealth
- A new diagnosis or a change in health for you or a family member
Any one of these may call for an update. Married couples may also want to revisit how their plan is set up.
3. Review Your Beneficiary Designations
Retirement accounts, life insurance, annuities, and payable-on-death or transfer-on-death accounts pass to the people named on the account, not under your will. An old designation can send money to an ex-spouse or leave out a new child.
Log in to each account or call the provider, and confirm both the primary and contingent beneficiaries. Our posts on why naming a beneficiary matters and whether named beneficiaries are enough to avoid probate explain what to look for. If a beneficiary is a minor, see our guide to Florida UTMA accounts.
4. Make Annual Gifts Before December 31
This is the one item with a hard deadline. In 2026, you can give up to $19,000 to each person without using any of your lifetime gift and estate tax exemption or filing a gift tax return. A married couple can give $38,000 to each person by splitting gifts, though split gifts generally require filing a gift tax return.
The exclusion resets every January 1, and any amount you don’t use for 2026 doesn’t carry over. To count for this year, a gift has to be completed by December 31.
Who benefits from annual gifts
Most Florida families won’t owe federal estate tax, since the exemption is $15 million per person in 2026, and Florida has no state estate tax. (Does Florida have an estate tax?) Annual gifts can still help families with larger estates reduce what’s taxable, and they’re a simple way to help children or grandchildren now.
If you lend money to family instead of giving it, put the loan in writing. Our posts on giving away assets without estate or gift tax and documenting family loans cover the details.
5. Check That Your Trust Is Funded
A revocable trust only avoids probate for assets titled in the trust’s name or payable to it. If you bought property, opened accounts, refinanced, or started a business this year, make sure those assets are in the trust. An unfunded trust can leave your family facing probate anyway. Our trust funding checklist walks through each type of asset.
6. Confirm Your Homestead Exemption
If you bought a Florida home this year and it’s your permanent residence on January 1, you can apply for the homestead exemption with your county property appraiser. The filing deadline is March 1.
If you already have the exemption, confirm that your deed and your estate plan still work together, especially if the home is in a trust or you’ve remarried. (Florida homestead inheritance rules for married couples)
7. Organize Your Accounts and Tell Your Family Where Things Are
Your digital life
Most families now keep photos, accounts, and records online. Make a secure list of your important accounts, and make sure your documents give the right person authority to manage them if you can’t.
The family conversation
Holiday gatherings can be a natural time to share where your documents are kept and who you’ve named to help. You don’t need to share every detail. Telling your agent, trustee, or personal representative where to find your plan can save your family time and stress.
How This Plays Out in Practice
These are composite examples, not actual client matters.
The forgotten 401(k). A man in Pembroke Pines remarried several years ago and updated his will, but never changed the beneficiary on his old 401(k). It still named his former wife. A year-end beneficiary check caught it, and a five-minute online form fixed it.
The new condo outside the trust. A retired couple in Boca Raton bought a condo in the spring and titled it in their own names, not their trust. Their December review caught the gap, and their attorney prepared a deed to move it into the trust before it could end up in probate.
The grandparents’ December gifts. Grandparents with a larger estate give each of their four grandchildren the full annual exclusion amount every December. Over 10 years, that moves a meaningful amount out of their taxable estate without using any of their lifetime exemption or filing a gift tax return.
When to Speak with an Estate Planning Attorney
If this checklist turned up questions, plan to meet with an estate planning attorney early in the new year. It’s especially worth a conversation if you:
- Don’t have a will, trust, power of attorney, or health care surrogate
- Signed your documents in another state before moving to Florida
- Had a marriage, divorce, birth, death, or major financial change this year
- Found assets that aren’t in your trust, or beneficiaries that need updating
- Have a larger estate and want to plan your gifts or use your exemption
- Have minor children and haven’t named a guardian
SJF Law Group helps families in Broward, Miami-Dade, and Palm Beach Counties update their plans or create one for the first time. Meetings are available in person at our Plantation office or remotely. Current clients can schedule their complimentary annual plan review. If you’re not yet a client, call (954) 580-3690 or contact us online to schedule a complimentary consultation.
Frequently Asked Questions
How often should I review my estate plan?
At least every few years, and whenever a major life event happens. A year-end review is an easy habit to keep.
Do I have to make annual gifts by December 31?
Yes. The annual exclusion applies per calendar year, so gifts must be completed by December 31 to count for 2026.
Does my will control my retirement accounts?
Usually not. Retirement accounts and life insurance pass to the beneficiaries named on the account, which is why reviewing designations matters.
What if I moved to Florida this year?
Your documents may still be valid, but Florida has its own rules for homestead, powers of attorney, and health care decisions. A review is a good idea.
When is the Florida homestead exemption deadline?
March 1. To qualify for the coming year, the home must be your permanent residence on January 1.
Do I need to file a gift tax return for gifts under $19,000?
Generally not, as long as each person receives no more than $19,000 from you in 2026. Married couples who split gifts to give up to $38,000 per person generally do need to file one.
About This Article
Written by Samantha Fitzgerald, Esq., founder and managing attorney of SJF Law Group. Samantha is a Florida-licensed estate planning and probate attorney, a licensed CPA, and holds an LL.M. in Taxation.
Learn more: Wills, Trusts & Estate Planning
Related reading: Florida estate planning checklist (free download)
Ready to talk? Call (954) 580-3690 or contact us to schedule a complimentary consultation.
This article is for general information only and is not legal or tax advice. Reading it does not create an attorney-client relationship. Every family’s situation is different, so speak with an attorney about your specific circumstances.
