This fifth installment of a 7-part series about Domestic Partnership Agreements discusses survivor’s rights on death.
Florida law provides for death benefits if a married person dies before the other spouse and they have no premarital or postnuptial agreement. But for unmarried domestic partners, Florida law provides no survivor benefits upon the decedent’s death. Through careful planning and drafting of a domestic partnership agreement, however, partners can achieve similar financial rights on death.
A death benefit available to a surviving spouse under Florida law, but not to unmarried couples, is the “elective share.” The elective share is a surviving spouse’s right to a share of the decedent’s estate no matter what the will provides. A marrying or married party may waive that right. Florida law specifies the property included in the “elective estate.” The amount of the elective share is generally 30 percent of the “elective estate.”
For example, for married couples, if a spouse’s will provided the other spouse would get $100,000 upon death, and the rest of the wealth, money, and property would go into a trust for someone other than the surviving spouse, but the decedent’s “elective estate” calculated under Florida law were worth $1 million, the surviving spouse could elect to take $300,000.
Options for Death Benefits of Domestic Partner
Domestic partners may use definitions similar to those for the spousal elective share. Their agreement could provide for irrevocable commitments that the survivor partner would share in the decedent’s estate. These irrevocable commitments would stand, regardless of what a later will provides.
The draft agreement could lay out alternatives for either party to consider:
Option 1 – provide for a partial waiver and release of property and estate rights and a specific waiver of any right to include the value of the interests in trusts in the elective share upon death.
Option 2 – provide for a broader waiver and release by either party of property and other estate rights upon the other’s death.
Option 3 – provide, absent later different written arrangements, for specific irrevocable rights in the other party’s estate upon the party’s death.
Related Blog Posts
Read more about Florida Domestic Partnership Agreements:
- Domestic Partnership Agreements: Overview
- Domestic Partnership Agreements: The Home and Joint Expenses
- Domestic Partnership Agreements: Separate Property and Jointly Acquired Property
- Domestic Partnership Agreements: Support upon Termination of the Relationship
- Domestic Partnership Agreements: Financial Disclosures and Privacy
- Domestic Partnership Agreements: FAQs