Wills, Trusts & Estates Flashcards

Under Florida law, if a decedent dies intestate leaving a surviving spouse and children from a prior relationship who are not descendants of the surviving spouse, the surviving spouse's intestate share is:

Answer: Half of the intestate estate

Under §732.102(2), when the decedent has one or more descendants who are not also descendants of the surviving spouse, the surviving spouse receives half of the intestate estate.

Under Florida constitutional and statutory law, if a decedent dies with a surviving spouse and lineal descendants, the homestead property descends as:

Answer: A life estate to the surviving spouse with vested remainder in the lineal descendants

Art. X, §4 of the Florida Constitution and §732.401 provide that when there is both a surviving spouse and lineal descendants, the spouse receives a life estate with a vested remainder in the lineal descendants.

A will is made self-proved under Florida Statutes §732.503 by:

Answer: Attaching a sworn affidavit of the testator and witnesses acknowledged before a notary at execution

Under §732.503, a will becomes self-proved when a notarized affidavit signed by both the testator and the witnesses is attached, eliminating the need for witness testimony during probate.

Under Florida Statutes §736.1002, a trustee who commits a breach of trust is liable to the beneficiaries for:

Answer: The greater of actual damages to restore the trust or profits the trustee gained from the breach

§736.1002 makes a breaching trustee liable for the greater of the amount needed to restore the trust to its pre-breach value or any profit the trustee realized from the breach.

Under Florida Statutes §736.0813, a trustee's duty to inform and report runs to:

Answer: Qualified beneficiaries, who hold current, remainder, or contingent remainder interests

§736.0813 requires trustees to keep 'qualified beneficiaries'—those with present, remainder, or contingent remainder interests—reasonably informed about the trust and its administration.

Under Florida law, a class gift (e.g., 'to my children') in a will generally closes and is construed to include:

Answer: All class members who are alive at the testator's death, including those born after will execution

Under Florida law, a class gift closes and is distributed to all class members living at the testator's death, which includes children born after the will was signed.

Under Florida Statutes §733.601, the primary duty of a personal representative is to:

Answer: Collect assets, pay valid debts and taxes, and distribute the estate per the will or intestacy laws

§733.601 vests the personal representative with the duty to collect assets, discharge lawful claims, and distribute the estate in accordance with the will or intestate succession laws.