Legal Question in Wills and Trusts in Florida
Elective share
Please define elective share in Florida. Is it 30% of the net distributable estate. In other words, are all expenses of administration, claims, etc deducted from the estate before the elective share is calculated?
1 Answer from Attorneys
Re: Elective share
I would say that the elective share is far more than "net distributable estate," if I understand what you mean by that term. For example, the elective estate includes the decedent's ownership interest in accounts or securities registered pay on death or transfer on death. In some cases the elective estate may even include assets transfered within one year of death. For your general information, some of the Florida Statutes that talk about elective share can be found at 732.201 through 732.2155. You can link to Florida Statutes through my web site, www.flprobate.com. It is a complex area of the law and I strongly suggest you speak with an attorney if you have any specific questions.