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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