Florida Intestacy Statute
Have you heard this statement? “If I am married, everything goes automatically to my spouse.”
There are so many issues with this statement, I don’t even know where to begin. Let’s start with the following:
Assets titled in only one name belong only to the one named. Therefore, any assets titled to the deceased, must be retitled after death with or without a Last Will & Testament. This can include bank accounts, automobiles, homes, real estate,
boats, investment accounts, retirement accounts and life insurance policies without named beneficiaries, or retirement accounts and life insurance policies with named beneficiaries who are also deceased.
A Last Will & Testament will be filed with the court and a probate case will be initiated for the re-titling of the assets to the people as prescribed by the Will as long as the Will is valid and can be proved.
If there is no Last Will & Testament, the Florida Intestacy Statute 732.101 – 732.111 prescribes who will inherit the assets. You may be very surprised to learn 732.102(3) indicates that if the decedent has lineal descendants (children) that are
not descendants of the surviving spouse, then the surviving spouse’s share of the intestate estate is one-half. You may be even more surprised to learn that if the decedent and the surviving spouse have descendants together and the surviving spouse has descendants that are not descendants of the decedent, the surviving spouse’s share of the intestate estate is one-half.
732.102 Spouse’s share of intestate estate. —The intestate share of the surviving spouse is:
(1) If there is no surviving descendant of the decedent, the entire intestate estate.
(2) If the decedent is survived by one or more descendants, all of whom are also descendants of the surviving spouse,
and the surviving spouse has no other descendant, the entire intestate estate.
(3) If there are one or more surviving descendants of the decedent who are not lineal descendants of the surviving spouse, one-half of the intestate estate.
(4) If there are one or more surviving descendants of the decedent, all of whom are also descendants of the surviving spouse, and the surviving spouse has one or more descendants who are not descendants of the decedent, one-half of the
intestate estate.
Being married does not “automatically” ensure that you won’t require probate and it does not ensure that your spouse will inherit your assets. Don’t assume anything is automatic, consult with an attorney who can help you plan for and protect those you love.
Diana Mangsen focuses her practice as an elder law attorney in Clearwater, Palm Harbor, Largo, Dunedin and the Tampa Bay area.
For more information, visit our website at
https://www.mangsenlaw.com/
or call (727) 888-6282.