Standby Florida Elective Share Trusts

By Miami Probate Attorney Phillip B. Rarick, Esq.

Florida’s elective share statute allows attorneys to draft standby Florida elective share trusts.  (For a summary of Florida’s elective share see our post: Florida’s Sweeping Elective Share.)  As of  April 23, 2002, trusts that create property  interests contingent upon an election being  made are now qualified to fund the spouse’s elective share interests. The requirements for such a trust are set forth at F.S. §732.2025(2) and include: (1) surviving spouse must be entitled to use of the property for life or  have all of the income payable as least annually; (2) the surviving spouse has the right to make the trust productive of income or convert it within a reasonable time; and no person other than the spouse has the power to distribute income or principal to anyone other than the spouse.

Rarick, Beskin & Garcia Vega has been trusted by numerous law firms and many families during the past 18 years for probate,  estate planning, trust and asset protection cases.  To schedule an appointment, call (305) 556-5209 or email info@raricklaw.com.

Special Note

The information on this blog is of a general nature and is not intended to answer any individual’s legal questions. Do not rely on information presented herein to address your individual legal concerns. If you have a legal question about your individual facts and circumstances, you should consult an attorney that is experienced in Florida estate planning law. Your receipt of information from this website or blog does not create an attorney-client relationship and the legal privileges inherent therein.