Are the surviving spouse in West Palm Beach who just found out they were disinherited? You may be surprised to learn you have a right to thirty percent of the estate whether your late husband likes it or not. In fact this is called the elective share and your elective rights may be bigger than those you would have had under intestacy depending on how much was also left in Palm Beach trusts.
Elective Share
- What is the elective share?
- In West Palm Beach the surviving spouse has a right to an elective share of the estate.
- This is not automatic; rather you have to elect to get it.
- How big is the elective share in Florida?
- Florida spouses can elect to get 30% of the estate in lieu of what was left to them under the will or the rules of intestate succession.
- Before you make such an election you are going to want to discuss the ramifications with your Palm Beach probate attorney.
- Make sure you move for your election in the times allowed under the Florida Probate Code.
Elective Estate
- So how do you determine how much you get?
- The elective share is calculated as 30% of the elective estate.
- This is different than the probate estate.
- The probate estate is all probate property so it excludes things like trusts and life insurance plans.
- This is not the case with the elective estate.
- The elective estate is much larger and includes certain trusts and certain other accounts that would be excluded under the probate estate.
- Do you know why it is like this?
- Without rules like this people could effectively disinherit their spouses through a will by eliminating all of the probate estate to make the elective estate laughable.
- Do you want to look into claiming your elective share?
- The timer starts ticking once the person dies and it shortens significantly after a notice of administration has been served on you so act soon.
- If you have questions reach out to an experienced Palm Beach probate law firm today.
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