The scenario: Hank and Janice were married, had a daughter together, Elsie, and then got divorced. Hank died intestate, without a will, so pursuant to Florida law, Elsie was the beneficiary of his estate. Elsie was not married and had no children. She died before receiving her distribution from Hank’s estate. What happens to her distribution? It will now go to the beneficiary of Elsie’s estate. Having died with no spouse or children, Elsie’s beneficiary is her mother, Janice. So Janice has now become the beneficiary of her ex-husband’s estate. Do you think this is what Hank would have wanted?
The take-away from this scenario: With proper planning, this could have been avoided.
About the Author: Peggy Hoyt Peggy R. Hoyt practices in the areas of family wealth and legacy counselling, including trust and estate planning and administration, elder law, small business creation, succession and exit planning, real estate transactions and animal law.