The Florida Senate

732.2155  Effective date; effect of prior waivers; transition rules.--

(1)  Sections 732.201-732.2155 are effective on October 1, 1999, for all decedents dying on or after October 1, 2001. The law in effect prior to October 1, 1999, applies to decedents dying before October 1, 2001.

(2)  Nothing in ss. 732.201-732.2155 modifies or applies to the rights of spouses under chapter 61.

(3)  A waiver of elective share rights before the effective date of this section which is otherwise in compliance with the requirements of s. 732.702 is a waiver of all rights under ss. 732.201-732.2145.

(4)  Notwithstanding anything in s. 732.2045(1)(a) to the contrary, any trust created by the decedent before the effective date of ss. 732.201-732.2145 that meets the requirements of an elective share trust is treated as if the decedent created the trust after the effective date of these sections and in satisfaction of the elective share.

(5)  Sections 732.201-732.2155 do not affect any interest in contracts entered into for adequate consideration in money or money's worth before October 1, 1999, to the extent that the contract was irrevocable at all times from October 1, 1999, until the date of the decedent's death.

(6)  Sections 732.201-732.2155 do not affect any interest in property held, as of the decedent's death, in a trust, whether revocable or irrevocable, if:

(a)  The property was an asset of the trust at all times between October 1, 1999, and the date of the decedent's death;

(b)  The decedent was not married to the decedent's surviving spouse when the property was transferred to the trust; and

(c)  The property was a nonmarital asset as defined in s. 61.075 immediately prior to the decedent's death.

History.--s. 15, ch. 99-343; s. 30, ch. 2001-226.