Exempt Property & The Pretermitted Spouse

Fourth District Court of Appeals provides guidance on determination of exempt property.In Florida, the law provides that the surviving spouse of a decedent (or the decedent’s children if no surviving spouse) has a right to a share of the decedent’s “exempt property.”

Exempt property Exempt property is defined in the Florida Probate Code as including: (1) household furniture, furnishings, and appliances in the decedent’s usual place of abode, up to a net value of $10,000 as of the date of death;(2) all automobiles held in the decedent’s name and regularly used by the decedent or members of the decedent’s immediate family as their personal automobiles;(3) Florida prepaid college program contracts purchased and Florida college savings agreements established under statutes;(4) all benefits paid pursuant to the statute which provides for death benefits for certain teachers and school administrators. See Fla.Stat. § 732.402(2). Read the rest of this entry