Legal Question in Wills and Trusts in Florida

Asset protection / marriage

Elderly father / female companion contemplate marriage, 3rd time for father, 2nd for friend.

If father's assets ( bank accounts, cd's, stock brokerage accounts ) are all titled jointly, ie. Father's name / Son's name with rights of survivorship, what portion of these jointly titled assets would the soon to be wife have legal claim to?

If assets were titled in reverse, ie. Son's name / Father's name with rights of survivorship, would this situation make a difference?

Father wishes to protect all assets from wife, while alive and after his death. Sounds like gift giving time to me, but

he does not want to give up total control. yikes !


Asked on 3/02/04, 12:44 pm

3 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: Asset protection / marriage

The jointly held assets are not part of his estate

and his wife will have no claim thereto.

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Answered on 3/02/04, 12:55 pm
Kelly Henderson

Re: Asset protection / marriage

I believe a prenuptual agreement is the best avenue to accomplish your goals. Your father and his friend need to discuss this issue matter with an attorney.

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Answered on 3/02/04, 1:23 pm
Frank J. Pyle Probate Attorney Throughout Florida

Re: Asset protection / marriage

David Slater, Esq.'s, answer is 100% wrong!!! Do not listen to him! Under Florida's elective share statute she would have an absolute right to 30% of all his assets, INCLUDING assets held by him jointly with someone else. She would have the same right to anything he gives away within 1 year of his death. She is entitled to more, but I don't have the time to continue. He absolutely needs a pre-marital agreement.

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Answered on 3/02/04, 1:25 pm


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