The Short Answer

In Florida, a surviving spouse’s elective share is generally based on the value of the decedent’s “elective estate,” and Florida law has specific valuation rules depending on the type of asset. Many assets are valued at fair market value as of the date of death, but some (like certain life insurance interests and certain transfers shortly before death) use different valuation methods and dates.

What Florida Law Says

Florida’s elective share is calculated as a percentage of the “elective estate,” which can include more than just probate assets (it can also pull in certain non-probate assets and certain transfers). The key point for valuation is that Florida does not use a single one-size-fits-all rule—valuation depends on the asset category and whether debts/claims reduce the value.

The Statute

The primary law governing this issue is Fla. Stat. § 732.2055.

This statute establishes how to determine “value” for different categories of property included in the elective estate—often using fair market value at death, but with special rules for homestead, life insurance cash value, retirement benefits (transfer tax value), and certain transfers made shortly before death.

For example, under Fla. Stat. § 732.2055:

• Most property: valued at fair market value on the date of death, generally reduced by certain claims and secured debts as the statute describes. See § 732.2055(6).
• Protected homestead: valued at fair market value on the date of death, with special treatment depending on what interest the spouse receives (e.g., fee simple vs. life estate/one-half tenant-in-common election). See § 732.2055(1).
• Life insurance (certain interests included in the elective estate): valued at the net cash surrender value immediately before death (not the death benefit). See § 732.2055(2).
• Retirement/deferred compensation amounts included in the elective estate: valued at the transfer tax value on the date of death. See § 732.2055(4).
• Certain transfers/terminations within 1 year before death (if included): valued as of the date of the termination or transfer (often fair market value, net of secured debt). See § 732.2055(3) and § 732.2055(5).

Florida also defines what property is pulled into the elective estate in Fla. Stat. § 732.2035, and sets the elective share amount at 30% of the elective estate under Fla. Stat. § 732.2065.

Why You Should Speak with an Attorney

While the statute provides the general rule, applying it to your specific situation is rarely simple. Legal outcomes often depend on:

• Strict Deadlines: Elective share cases are deadline-driven, and delays can affect rights and leverage—especially when assets are moving through probate and non-probate channels.
• Burden of Proof: Disputes often turn on what’s included in the elective estate and what valuation method applies (fair market value vs. transfer tax value vs. cash surrender value), which can require appraisals, account statements, and careful tracing.
• Exceptions: Certain transfers may be excluded or treated differently (for example, some transfers for adequate consideration or certain insurance amounts), and homestead treatment can change the valuation dramatically depending on the spouse’s rights and elections.

Trying to handle this alone can lead to an undervalued (or overstated) elective estate, missed assets, or a claim that gets challenged and reduced. A Florida probate attorney can evaluate what must be included, what can be excluded, and how to support (or contest) valuations with the right evidence.

If you want more context on how these claims are litigated, see: How Do Elective Share Claims Work in Florida Probate, and What Defenses Are Available?.

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Disclaimer: This article provides general information under Florida law and does not create an attorney-client relationship. Laws change frequently. For legal advice specific to your situation, please consult with a licensed attorney.