Recent Developments in Florida Estate Planning Laws
An Overview by Yanitza Schoonover of The Schoonover Law Firm
Another notable development is the enhancement of Florida’s Spousal Lifetime Access Trusts (SLATs). SLATs have gained popularity in recent years due to the threat of federal gift, estate, and GST tax exemptions reduction. A law effective from July 1, 2022, protects a contingent reversionary interest in the trust for the settlor spouse from his or her creditors if the beneficiary spouse were to die first. This change makes SLATs an even more attractive estate planning tool for Floridians, including those in Coral Springs (133,507 residents) and Davie (106,306 residents).