Intestate succession in Florida determines who will inherit your assets in the event you pass away without a valid will. As such, this means your assets may not be distributed in the way you particularly desire. Under Florida law, most cases of intestate succession result in close relatives, like spouses, children, or parents, who will receive assets in line with Florida law. Rest assured, a valid and enforceable estate plan is the best way to sidestep this process. Read on to discover how intestate succession works and how a seasoned Broward County wills lawyer at The Probate Lawyers can help you avoid this.
Why Is It Important To Establish a Will in the State of Florida?
Intestate succession in Florida, the legal process under Florida Statutes Chapter 732, where a person’s probate assets are distributed to their closest immediate relatives when they pass without a legally valid will. When creating a will, you first designate an individual whom you trust to serve as your executor. You then disclose your wishes for how your property is to be distributed and to whom. Upon your passing, your estate will enter probate court, and your executor will be summoned. Your executor will then manage your assets and disperse them as you desire.
Essentially, none of this is possible without a valid and enforceable will. In other words, if you die without a will, or your will is otherwise deemed void, then your property will enter intestate. And with intestate, there is a certain succession for who inherits your estate. For example, say that you wanted your grandchildren to inherit your home. Well, with the state of Florida’s intestacy laws, this may not be possible if you have a surviving spouse or child.
Why Having a Will Matters
- A will allows you to control who inherits your assets, rather than utilizing Florida law
- You can appoint a trusted individual to serve as the executor of your estate, overseeing the distribution of assets
- You may avoid unintended outcomes, such as excluding grad children or a partner you are not married to
- Establishing a will helps reduce disputes and complications with probate
How Does Intestate Succession Work in the State of Florida?
Under Florida law, specifically Florida Statutes § 732.102 and § 732.103, intestate succession adheres to the strict order of inheritance for surviving family members. No family dynamic is identical to the next; and oftentimes, they are difficult to navigate. However, Florida has a pre-determined rule that determines how an individual’s assets will be distributed in the event there is no valid will. In general, you’ll find that the next of kin are your most immediate family members.
Florida Intestate Succession Rules
- If you have surviving children but no spouse: then your children will inherit your entire estate.
- If you have a surviving spouse but no descendants: then your spouse will inherit your entire estate.
- If you have a surviving spouse and descendants from you and your spouse: then your spouse will inherit your entire estate.
- If you have a surviving spouse and descendants from you and your spouse, along with your spouse having descendants from another relationship: then your spouse will inherit half of your estate, and your descendants will inherit the other half.
- If you have a surviving spouse and descendants from another partner other than your spouse: then your spouse will inherit half of your estate, and your descendants will inherit the other half.
- If you have surviving parents but no spouse or descendants: then your parents will inherit your entire estate.
- If you have a surviving sibling but no spouse, descendants, or parents: then your sibling will inherit your entire estate.
What Happens if No Family Members Survive?
- If no immediate family members exist, the estate may pass to extended relatives, like grandparents, aunts, uncles, and cousins
- If no relatives can be identified, the estate may become the property of the State of Florida
- Though rare, this outcome further highlights the need for estate planning
What Assets Are Subject to Intestate Succession in Florida?
Not all assets are distributed through intestate succession. As such, Florida law distinguishes between probate and non-probate assets. As such, only certain assets are subject to intestacy rules.
Probate Assets
- Assets owed solely to the deceased
- Real estate with no joint ownership or beneficiary designations
- Bank accounts solely owned with no payable-on-death designations
- Vehicles titled only in the name of the deceased
Non-Probate Assets
- Life insurance policies with named beneficiaries
- Retirement accounts
- Jointly owned property with rights of survivorship
- Payable-on-death or transfer-on-death accounts
- Assets held in a trust
Contact an Experienced Florida Estate Planning Attorney Today
If you have different intentions for your estate, then there is no time like the present for establishing a will. Reach out to a competent Broward County estate lawyer from The Probate Lawyers today. Contact us to learn more about your legal actions.
