Effective on July 1, 2026, for decedents dying on or after July 1, 2026, any gold coin or silver coin constituting legal tender pursuant to § 215.986, Florida Statutes, is no longer tangible personal property. This can affect gold and silver coin inheritance. The Florida tangible personal property rules no longer apply to any gold or silver coin that qualifies as legal tender.
According to the legal tender classification in Florida, a gold or silver coin can qualify if it satisfies the criteria for purity level and specific markings. If the coin is legal tender, it may not be disposed of under a general tangible personal property clause in a Will or Trust and may not be listed on a separate writing authorized by § 732.515, Florida Statutes. However, bullion and precious metals that do not meet these legal tender standards still fall under the jurisdiction of the Florida tangible property rules, provided that you hold them primarily for collectible, artistic, or investment value.
If you have gold and silver coins and other precious metals, speaking to a Port Richey estate planning attorney can help you find answers on how these legal changes impact your current estate plan. We at Delzer, Coulter & Bell, P.A., can review your documents and determine whether updating your will or trust is necessary. With our guidance, we can help you protect your legacy.