Page 7 - Jupiter West - January '25

Jupiter West, Page 7
Financial Focus ® Elder Estate Planning

Understanding The Antilapse alternative plan for the gift. For example, if the will states, “If • Use clear and unambiguous language to outline alternate
beneficiaries.
my son John predeceases me, his share shall go to charity,”
Statute In Florida the statute will not override this instruction. • Regularly update their will to reflect changes in family
3. Gifts to Non-Family Members: If a non-family circumstances, such as the death of a beneficiary.
By Anné Desormier- member (someone not a grandparent or descendant of a Conclusion
Cartwright, J.D., Esq. grandparent) is the predeceased beneficiary, the antilapse Florida’s antilapse statute under Section 732.603 provides
In estate planning and statute does not apply. In such cases, the gift will lapse and a safety net when a named beneficiary, who is a close family
probate law, unforeseen fall into the residuary estate unless otherwise specified in member, predeceases the testator. By ensuring that gifts pass
situations can arise when the will. to the deceased beneficiary’s descendants, the law upholds
a named beneficiary in a How Per Stirpes Distribution Works the testator’s presumed wishes and prevents the unintended
will passes away before the When the antilapse statute applies, the distribution to the lapsing of gifts.
testator (the person who deceased beneficiary’s descendants follows the per stirpes However, careful estate planning and clear drafting of wills
created the will). This can method. Under this method: remain essential to ensure that your assets are distributed
lead to confusion regarding • The share of the deceased beneficiary is divided equally according to your precise intentions. For personalized advice,
the distribution of assets. among their surviving descendants by generation. consulting an experienced estate planning attorney is always
To address this, Florida has • For instance, if a beneficiary has three children and recommended.
enacted what is known as the antilapse statute, a legal one child predeceases the testator but leaves two children We Are Here To Help
provision that preserves the inheritance rights of a deceased (grandchildren of the testator), the deceased child’s share We understand that you are grieving the loss of a loved
beneficiary’s descendants. will be divided between the two grandchildren. one. When you are ready, we are here to help you take the
What Is An Antilapse Statute? Practical Example Of The Antilapse Statute next step in your estate planning journey, whether you are
The antilapse statute is designed to prevent gifts in a will Consider the following scenario: starting, completing, or updating your estate plan. Give us a
from “lapsing” or failing when a beneficiary predeceases • Testator’s will: “I leave $100,000 to my daughter Mary.” call to schedule your in-person or virtual appointment.
the testator. In such cases, the statute allows the gift to • Situation: Mary passes away before the testator, but she If you have questions about your estate plan and what
pass to the deceased beneficiary’s descendants, rather than is survived by two children. documents you should have in place to plan your estate,
reverting to the residuary estate or being redistributed to • Outcome: Under Florida’s antilapse statute, Mary’s share schedule a free consultation today by calling our office at
other beneficiaries. of $100,000 would pass equally to her two children ($50,000 (561) 694-7827, Anné Desormier-Cartwright, Esq., Elder
The intent behind the statute is to honor the presumed each), since Mary is a descendant of the testator’s grandparent. and Estate Planning Attorneys PA, 480 Maplewood Drive,
wishes of the testator, who likely intended for the beneficiary’s However, if the testator’s will explicitly states, “If Mary Suite 3, Jupiter, FL 33458.
family to receive the gift in their place. predeceases me, her gift shall lapse,” then the antilapse statute The content of this article is general and should not be
Florida’s Antilapse Statute: Key Provisions would not apply, and the gift would fail. relied upon without review of your specific circumstances
Florida’s antilapse statute is codified under Section Why The Antilapse Statute Is Important In Estate by competent legal counsel. Reliance on the information
732.603 of the Florida Statutes. Here are the critical elements: Planning herein is at your own risk, as it expresses no opinion by
1. Application to Certain Relatives: The antilapse statute The antilapse statute plays a critical role in preserving the firm on your specific circumstances or legal needs.
applies only if the predeceased beneficiary is: the testator’s likely intentions and ensuring that close An attorney client relationship is not created through the
◦ A grandparent of the testator, or family members do not lose their inheritance due to the information provided herein.
◦ A descendant of a grandparent of the testator (e.g., death of a named beneficiary. However, it is essential for To comply with the U.S. Treasury regulations, we must
siblings, children, grandchildren, nieces, or nephews). testators to clearly outline their intentions in the will to inform you that (i) any U.S. federal tax advice contained
If the beneficiary falls within this category and passes prevent any ambiguity. in this newsletter was not intended or written to be used,
away before the testator, the beneficiary’s descendants will Avoiding Pitfalls: Drafting Clear Wills and cannot be used, by any person for the purpose of
inherit the gift per stirpes (in shares determined by their To avoid unintended consequences, individuals creating avoiding U.S. federal tax penalties that may be imposed
generational line). a will in Florida should: on such person and (ii) each taxpayer should seek advice
2. Exclusions Based on Will Language: The antilapse • Specify what happens if a named beneficiary predeceases from their tax advisor based on the taxpayer’s particular
statute does not apply if the will explicitly provides an them. circumstances.

Meet the New Cardiologist in the

Neighborhood!

Dr. Hemang B. Panchal, MD, MPH, Highlights of Dr. Panchal:
FACC, FSCAI, is board-certified in • 13+ years of experience
cardiology, interventional cardiology, • Well-published in top-rated journals,
echocardiography, and nuclear including the Journal of the
cardiology. He recently established his American College of Cardiology and
new cardiology practice, South Florida Circulation.
Heart & Vascular, located in Jupiter, FL. • Helped reform the guidelines by the
American College of Cardiology.
Hospital Affiliations: • Reviewer for many journals,
• Jupiter Medical Center including the American Heart
Journal, British Medical Journal, and
• Palm Beach Gardens Medical many others.
Center

• Good Samaritan Medical Center

• Cleveland Clinic Tradition Hospital

• Cleveland Clinic Martin North and
South Hospitals.

For more information, please visit our South Florida Heart & Vascular
website at www.sfheart.org. 4425 Military Trail, Suite 102

Jupiter, FL 33458
Phone: 561-208-5246
Fax: 561-245-5399
Email: infosfheart@gmail.com

We offer same-day or next-day
appointments whenever possible.