If you are domiciled in Florida, it is fine to name direct relatives as Personal Representatives or Trustees in your estate planning documents, even if those individuals live in other states. However, while this can be fine in some situations, it can also be problematic and costly. Both roles have extensive duties and responsibilities governed by Florida Statutes, and are required to provide signed documents to, and sometimes even appear in, Court. Travel and mail service costs can be extensive, and can also result in higher attorneys’ fees. Additionally, having multiple individuals named to the same role can cause conflict, further creating delay and costs. Its important to know how these details can affect your estate planning. Another consideration to keep in mind is to look at how those states tax residents. By naming these individuals, you could be exposing your estate plans to additional jurisdictions. Speak with your attorney for additional information.
-Emily A. Helmick, Esq.