CS/HB 267 - Estates Summary

• Includes the decedent's protected homestead property interest in the elective estate, subject to specified exclusions and valuation rules based on the surviving spouse's interest type.

• Requires interest payments at the statutory rate on unpaid portions of required contributions toward the elective share beginning 2 years after death for elective share amounts and 90 days after the order of contribution for contributions.

• Creates new section 732.2151 allowing courts to award taxable costs and attorney fees in elective share proceedings involving disputes over entitlement, amount, property interests, or satisfaction of the elective share.

• Extends the period for petitioning courts for election time extensions to 40 days after termination of any proceeding affecting the elective share amount, capped at 2 years from death, and removes provisions authorizing attorney fee assessments for bad faith elections.

• Allows surviving spouses to require trustees of marital or elective share trusts to make property productive of income, convert property, or exercise specified powers when trust assets do not provide sufficient beneficial enjoyment.