E Lobbyist reports regarding Florida Trusts and Estates legislation that has sailed through the legislature and is expected to be signed into law by the Governor.
The site summarizes the legislative changes saying that it provides fiduciary lawyer-client privilege; revises provisions relating to intestate share of surviving spouse; provides right to reform terms of will to correct mistakes or achieve tax objectives; provides for award of fees & costs in reformation & modification proceedings either against party's share in estate or in form of personal judgment against party individually; clarifies that revocation of will is subject to challenge on grounds of fraud, duress, mistake, or undue influence, etc.
MyFloridaHouse.gov shows their more complete summary of the proposed legislation which appears will shortly become Florida Trusts and Estates law. It has a significant change to Florida Intestate Succession law in that for decedents dying on or after October 1, 2011 that do not have a will the law will be changed. The current law is that when a decedent leaves children all of whom are also the children of the surviving spouse then the spouse receives the first $60,000 and then one half of the remainder. The new law will be for intestate estates when that situation comes up the spouse will receive everything. When one or more children are not also children of the surviving spouse then the law will remain the same for Florida Intestate estates that the spouse will receive one half and the children will receive one half.
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