Florida Estate Planning and Probate Law Blog focused on recent case law and planning ideas.

WHEN A LIFE ESTATE INTEREST IN FLORIDA HOMESTEAD REAL PROPERTY IS NOT REALLY A LIFE ESTATE INTEREST

♠ Posted by Marc Soss at Wednesday, October 22, 2014

The recent 2nd District Court of Appeals ruling in the case of Friscia v. Friscia, No. 2D13–412 (August 27, 2014), provides a new twist on the value of a “life estate” interest in Florida Homestead real property. Friscia involved a surviving second spouse’s challenge to the determination that her deceased spouse’s interest in his former marital residence constituted “homestead” real property, protected from the possession and control of the Personal Representative of his estate, that the former spouses marital settlement agreement granted temporary exclusive use and possession of the residence to the former spouse and precluded the surviving spouse from utilizing the “life estate” interest in the residence that she had inherited.  The 2nd DCA affirmed the Probate Court ruling that held the former marital home to be entitled to the homestead exemption and that the terms of the MSA did not waive the decedent's right to the constitutional protection from claims of his creditors.