Pre and Post Nuptial Agreements Are Essential
The follow circumstances occur all too often in Florida. Assume that you are a mature (say over 65) man or woman with a sizable estate who is in love. You may have been married for many years and your spouse unfortunately passed away a few years ago. However, before you marry again there is some information you should be aware of. Without a pre or post nuptial agreement, the moment your marriage is final your spouse has the following rights to your estate upon your death if you were domiciled in Florida even if you have a will: (1) the right an intestate share of your probate estate under certain circumstances (pretermitted spouse); (2) the right to receive thirty percent (30%) of your elective estate; (3) a life estate in your homestead property; (4) the right to $20,000.00 of tangible personal property, (5) the right to two vehicles; (6) all qualified tuition programs authorized by Section 529 of the internal revenue code, (7) a family allowance during administration not to exceed $18,000.00; Thus, without proper planning Florida law can act like a wrecking ball on your previously executed estate plans. For more information contact Cody & Linde, PLLC today!