What Do Florida Estate Lawyers Know (that you should too) About Florida’s Elective Share Statutes?

It may not be hard to disinherit a child in Florida but things can be  slightly harder when you have a spouse. Florida has laws that protect a spouse’s right to an inheritance. What do Florida probate attorneys need to know about Florida’s elective share statute?

Elective Shares in Florida

• Florida estate attorneys know what the elective share statute is, do you?
• Disinheriting is what happens when a decedent decides to keep a certain family member or other beneficiary from taking under the will.
• Some states like Louisiana can make it very hard to disinherit a child.
• Florida does not, you do not even have to leave them a nominal inheritance.
• So what is the elective share?
• Florida probate courts protect the spouse of a decedent from being disinherited by letting them take what is known as an elective share of the elective estate.
• The elective estate can be much larger than the probate estate because it can include certain non-probate property like trust property.
• What else does it include?
• The elective share is equal to 30% of the estate which is not a bad chunk of change.
• Florida estate lawyers know you have a limited time to claim it though.
• How long?
• Check out this recent case out of Ireland, and ask yourself, how would this be different if they were using Florida’s elective share statute.

Irish Widow Wants More ($)

• A man died leaving behind a widow and two children along with a $12 million dollar estate and a $40 million dollar construction business.
• The widow was left a nice chunk of change but said it was not enough to fund her extravagant lifestyle.
• So what did she do?
• Florida probate lawyers know… she filed a probate lawsuit.
• She claimed she was entitled to an additional 3.75 million pounds to keep her lifestyle.
• The Court disagreed though.
• They thought she was left with plenty and that she did not need and addition 372000 pounds (over $400 thousand) a year to party and travel.
• What do you think?
• What does this have to do with Florida probate litigation?
• Florida probate lawyers know this case would be different in Florida?
• What would the elective share statute do here?

Want to learn more?

Check out this recent article on the inheritance lawsuit by clicking here.

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