My husband and I EACH have 2 grown children. We are Florida residents. Should 1 of us die, will the children of that deceased spouse be entitled to a portion of our assets? ie: House, cars, (no leins) personal items and savings?
State/Country relating to question: Florida
-Could you explain your situation a little more?Do either of you have a will?
No, there are no wills.
Dear JACUSTOMER - I have included the Florida statutes below that describe what happens if you should die intestate (without a will). Generally you or your spouse would receive approximately half of the estate plus the first $60,000 however there are exceptions. The mosts if you own real estate that is titled jointly with the right to survivorship. That property would pass outside of the estate directly to the survivor. The same is true of life insurance or other annuities where the spouse is the named beneficiary.
It is always best to have wills so that you can make your own decision as to the distribution of your estate rather than relying on state law.
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 there are surviving descendants of the decedent, all of whom are also lineal descendants of the surviving spouse, the first $60,000 of the intestate estate, plus one-half of the balance of the intestate estate. Property allocated to the surviving spouse to satisfy the $60,000 shall be valued at the fair market value on the date of distribution. (3) If there are surviving descendants, one or more of whom are not lineal descendants of the surviving spouse, one-half of the intestate estate.
732.103 Share of other heirs.-The part of the intestate estate not passing to the surviving spouse under s. 732.102, or the entire intestate estate if there is no surviving spouse, descends as follows: (1) To the descendants of the decedent. (2) If there is no descendant, to the decedent's father and mother equally, or to the survivor of them. (3) If there is none of the foregoing, to the decedent's brothers and sisters and the descendants of deceased brothers and sisters. (4) If there is none of the foregoing, the estate shall be divided, one-half of which shall go to the decedent's paternal, and the other half to the decedent's maternal, kindred in the following order: (a) To the grandfather and grandmother equally, or to the survivor of them. (b) If there is no grandfather or grandmother, to uncles and aunts and descendants of deceased uncles and aunts of the decedent. (c) If there is either no paternal kindred or no maternal kindred, the estate shall go to the other kindred who survive, in the order stated above. (5) If there is no kindred of either part, the whole of the property shall go to the kindred of the last deceased spouse of the decedent as if the deceased spouse had survived the decedent and then died intestate entitled to the estate. (6) If none of the foregoing, and if any of the descendants of the decedent's great-grandparents were Holocaust victims as defined in s. 626.9543(3)(a), including such victims in countries cooperating with the discriminatory policies of Nazi Germany, then to the descendants of the great-grandparents. The court shall allow any such descendant to meet a reasonable, not unduly restrictive, standard of proof to substantiate his or her lineage. This subsection only applies to escheated property and shall cease to be effective for proceedings filed after December 31, 2004.
25 years practicing attorney
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