In Florida, the homestead exemption does not have a property value limit. Having a homestead in Florida conveys numerous tax benefits on their owners. Therefore, many move to Florida from other states in order to receive those tax benefits as well as to protect their homestead property from forced sales.
The Florida Spousal Elective Share is a statutory right created by the legislature that is available to the surviving spouses of persons who were domiciled in Florida at the time of their death.
To qualify for the homestead exemption, a person must meet certain requirements and a person may lose their homestead exemption if the requirements of the statute are not met every year.
Florida provides homeowners who make their Florida home their principal place of residence with a tax exemption. This exemption is called the Homestead Exemption and has different benefits. The exemption allows homeowners to exempt $25,000 (or $50,000 for married couples) from the taxable value of their home.
When setting up an estate plan, it is common for Floridians to have a revocable