What Are The Intestate Succession Laws In Daytona Beach?

There are many reasons to create a will but one of the most important of these is to ensure an estate is not subject to the intestate succession laws in Florida. When a person passes away without a will, their estate does not legally belong to anyone. The estate must then go through the probate process and the court will determine how property will be divided according to the intestate succession laws of the state.

The intestate succession laws in Florida are not necessarily bad, but they do remove control from the deceased because the law will dictate how the estate is divided. Below, our Daytona Beach wills and trusts lawyer explains how estates are divided when intestacy laws are applied.

Understanding the Intestacy Laws in Florida 

When a person passes away without a legitimate will in place, the estate is distributed among the closest relatives of the deceased. The intestate succession laws will distribute the estate in the following manner:

• Surviving spouses are first in line to inherit the estate as long as the marriage is legally recognized in Florida. If the deceased did not have surviving children, the spouse will receive the estate in its entirety.
• If there are surviving children of the deceased and the surviving spouse, the spouse still receives the entire estate. This only applies if the surviving spouse does not have children from a previous relationship.
• If the surviving spouse of the deceased has children from a previous relationship and children with the deceased, the spouse will receive half of the estate and the surviving children of the deceased will receive the other half.
• When there are surviving children of the deceased who are not the children of a surviving spouse, the spouse will receive half of the estate and the surviving children will receive the other half.

Many people believe they do not have to create a will because they would distribute their property according to the intestacy laws anyway. However, families today are quite complex. People may get married more than once and have children from previous relationships. By drafting a will, you can retain control of how your estate is distributed and ensure your loved ones are taken care of.

Property Not Subject to Intestate Succession Laws 

While much of a person’s estate must go through probate, there are certain types of property that do not, regardless of whether the deceased had a will or not. The property that is not typically impacted by intestate succession laws includes:

• Revocable trusts
• Any life insurance policy that names certain beneficiaries
• 401Ks, IRA, and other insurance policies that have named beneficiaries
• Property that is jointly owned, which will be transferred automatically to the surviving owner

Our Wills and Trusts Lawyer in Daytona Beach Can Assist with Your Case 

Drafting a will does not necessarily help your loved ones avoid the probate process, but it can make it much easier. At Bundza & Rodriguez, our Daytona Beach wills and trust lawyer can help you draft a will and other components of an estate plan that ensures you retain control of your property and which beneficiaries will receive it. Call or text us now at 386-252-5170 or chat with us online to schedule a free consultation.

Source:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html