Trust & Estate Planning in Daytona Beach
Create clarity, protect against vulnerabilities, and ensure your wealth transfers with fidelity to the vision of those who built it.
Fee-Only
Compensated solely by our clients. No commissions. No conflicts.
Serving Florida Since 1995
Three decades of fee-only fiduciary wealth management.
Your Estate Documents Should Be as Current as Your Life
Your estate plan, reviewed continuously. Coordinated with your attorney.
The trust your attorney drafted in Connecticut may still be technically valid. But it was written for a state with estate tax, different homestead rules, different probate procedures, and different creditor protection standards. Florida changed the rules on what you can do, and what you cannot.
You cannot leave your homestead to your children if you are survived by a spouse, unless your spouse has signed a valid waiver. You can protect unlimited equity in your home from creditors, but only if the homestead exemption is properly filed. You can use a Lady Bird Deed to transfer property outside probate while retaining full control, but only if the deed is properly drafted under Florida law. These are not technical footnotes. They determine whether your intentions are carried out or overridden by statute. View our trust and estate approach
Your Daytona Beach FinancialTeam
Michael T. Koenig, CFP®, J.M.
Mike founded FirsTrust in 1995 and leads the firm's trust and estate practice. A Certified Financial Planner® with a JurisMaster in Law and 40 years of experience.
Elayne Pisarik, CFP®, CLU, ChFC®, CDMM, MS, M.Tax
Elayne holds three degrees, four certifications (CFP®, CLU, ChFC, CDMM), a Master of Taxation, and 34 years of tax strategy experience.
Estate Planning Considerations for Volusia County Families
Florida Domicile and Estate Tax
Florida has no state estate tax and no inheritance tax. Families who have properly established Florida domicile eliminate exposure to their former state's estate tax, which in New York can reach 16% with a cliff provision that taxes the entire estate if it exceeds 105% of the $7.35M exemption.
Enhanced Life Estate (Lady Bird) Deeds
Common in Volusia County for transferring property outside probate while retaining homestead protections, the right to sell or mortgage during your lifetime, and eligibility for the homestead exemption and creditor protection.
Homestead Descent Restrictions
Florida law restricts how homestead property can be devised. The surviving spouse is entitled to either a life estate or 50% tenancy in common. These restrictions require careful coordination between your estate plan and your financial plan, especially for blended families.
Multi-State Property Coordination
Families who retain property in a former state may face ancillary probate and potential state estate tax claims. Holding out-of-state property through an LLC or trust can help avoid these outcomes.
Common Questions About Trust & Estate Planning in Daytona Beach
Generally, yes. While many estate documents drafted in other states may be technically valid in Florida, Florida has specific requirements around witness and notarization standards, homestead protections, and trust administration that your Northern documents may not address. A Florida attorney can ensure your documents comply with Florida law, properly address homestead restrictions, and take advantage of Florida-specific planning tools like Enhanced Life Estate Deeds and Florida's unlimited homestead creditor protection. Your FinancialTeam coordinates this review and works directly with your estate attorney. Learn more
An Enhanced Life Estate Deed (commonly called a Lady Bird Deed) allows you to transfer property to beneficiaries at death while retaining full control during your lifetime, including the right to sell, mortgage, or revoke the transfer. The property passes outside probate, maintains homestead exemption eligibility, and preserves Medicaid planning flexibility. It is a common and useful tool for many Florida homeowners, though it may not be appropriate in all situations (for example, if you have a mortgage with a due-on-sale clause or if your estate plan involves trust-based ownership). Your FinancialTeam evaluates whether this tool fits within your broader estate structure.
If you are survived by a spouse or minor child, Florida law restricts your ability to devise homestead property. You cannot leave homestead to anyone other than your spouse if you are married (absent a valid prenuptial or postnuptial waiver). If there is no surviving spouse but there are minor children, the property descends to the children. These restrictions exist regardless of what your will or trust says. Your FinancialTeam works with your estate attorney to structure ownership and estate documents that honor your intentions within these legal boundaries. Learn more
If you have properly established Florida domicile and updated all relevant documentation, Florida's position as your domicile state should prevail. However, if your former state can demonstrate you did not actually change domicile (based on time spent, property retained, business connections, and other factors), it may attempt to claim estate tax jurisdiction. Real property located in another state remains subject to that state's laws regardless of your domicile. Proper documentation and structuring (such as holding out-of-state real estate in an LLC) can help mitigate these risks.
A dynasty trust is designed to hold and grow assets across multiple generations while providing creditor protection, divorce protection, and estate tax benefits for your heirs. Florida allows trust durations up to 1,000 years (extended from the previous rule against perpetuities in 2022). Properly structured, assets placed in a dynasty trust can grow and be distributed to beneficiaries without being included in any beneficiary's taxable estate. This structure is particularly relevant for families building multigenerational wealth. Your FinancialTeam coordinates the design and funding of these trusts with your estate attorney. Learn more