accounts that benefit third parties after the decedent's death. Second, it prevents the surviving spouse from taking too large an elective share, if the decedent had already transferred substantial assets to the spouse. To accomplish that, the augmented estate is calculated by combining the value of the probate estate with such things as the value of gifts given by the decedent to third parties, property or accounts held in survivorship estates (such as a joint bank account, the proceeds of which would pass to the survivor among the account holders), the value of life insurance policies over which the decedent had the power to name the beneficiary, as well as gifts to the surviving spouse, and property held jointly with the surviving spouse. The elective share in Florida gives a surviving spouse 30% of the elective estate, which includes all property owned by the decedent, property given away within one year of death, property inside a revocable trust (also known as a living trust), and pay on death accounts. The Florida homestead property of the decedent, whether owned by the decedent solely or also with the surviving spouse, is included in the elective share calculation (this change was made in 2017). References Wills and trusts