Is there a limit on how much an intestate succession can be worth?

Yes, there is a limit on how much an intestate succession can be worth in the state of Florida. Intestate succession is when a person dies without having a valid will in place to distribute their assets. Instead, their assets are distributed according to a set of laws called intestate succession laws. In Florida, all non-probate assets (assets that pass directly to a beneficiary, such as insurance proceeds or 401(k) accounts) are excluded from the intestate succession law. The limit on how much the intestate succession can be worth is the amount of the probate estate remaining after the payment of creditors and expenses of administration. The probate estate consists of all assets owned by the decedent that are not non-probate assets. The limit on the value of the intestate succession for the surviving spouse of a decedent is set at $60,000, plus one-half of any balance of the probate estate. For the surviving children of the decedent, the intestate succession cannot exceed $20,000, plus one-half of any balance of the probate estate that is left after the surviving spouse is taken care of. If the intestate succession is worth more than the limits specified here, the surviving spouse or children can make a claim for the excess amount. It is important to note that the limits stated here are the minimum amount that must be distributed to the surviving spouse and children. Actual distribution of assets within an intestate succession may be determined by a court-appointed personal representative of the deceased’s estate.

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Is there a limit on how much an intestate succession can be worth?

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