What is a Florida’s Elective Share?
By Phillip B. Rarick, Weston Estate Planning Attorney
Florida’s Elective share is 30%. The elective share means any person in an opposite sex marriage or same sex marriage has the right to “elect” against the decedent’s partners will or trust and claim 30% of all assets owned by the decedent.
For example, if a husband residing in Weston decides to give all his assets to children from a prior marriage, the wife can still claim up to 30% of all assets owned by the husband upon death regardless of what the husband’s will or trust says.
Two special cautionary notes:
The elective share can be voided by a pre-nuptial or post-nuptial agreement.
The deadline for making the elective share election is the earlier of six months of the date of service of a Notice of Administration or two years from the date of death.
Elective share rights require careful legal analysis by an experienced Weston estate planning and trust attorney. Let us know if we can help.