Florida Wills and Non U.S. Real Estate

Is your estate plan up to date? Do you own property in another country outside of the United States? For example, do you own vacation property in the Caribbean, or a hotel in the Dominican? If you do, you should talk to your Florida estate planning attorney about having a foreign will that holds that property. Another option is that you could keep that property in some type of a trust or corporation. Not all foreign jurisdictions recognize a trust like we do in Florida so you may need a corporation to hold that real estate. The question becomes do you have a Florida corporation, foreign corporation, or a LLC holding that non- U.S. property? You should make sure to get your estate plan up to date if you purchase property outside of U.S. It will save your heirs time and money because you may be able to avoid opening multiple probate administrations.