Change to Florida's Intestacy Statute
The Florida House and Senate have been busy this year passing legislation for Governor Scott’s signature. One bill that is awaiting Governor Scott’s signature is one that amends Florida’s intestacy statute 732.102.
Passing away intestate means you died without an estate plan in place. When you do not have an estate plan in place, the state in which you live will provide a will for you by default. Florida’s new statute, if signed, will be effective as of October 1, 2011.
The new law states that if you pass away with a spouse and children, all of whom are children of your marriage with that spouse and neither spouse has other children, then all of the assets will pass to the spouse. If you pass away with children from a previous marriage, then the surviving spouse gets 50% and the children from the previous marriage gets 50%. If you pass away which children from your marriage but your surviving spouse has children from their first marriage, then the surviving spouse gets 50% and your children get 50%.
To learn more about the intestacy statute and how the changes could apply to you, please contact the Jacksonville and Ponte Vedra Beach law firm of Wood, Atter & Wolf, P.A.
