In Lauritsen v. Wallace, No. 5D10-1020, 2011 WL 1195873 (Fla. Dist. Ct. App. Apr. 1, 2011), the testator’s will attempted to forgive a promissory note and mortgage from the testator’s son. The testator’s estate had acquired extensive expenses, however, and the note was the only available asset to pay the expenses. As a matter of first impression, the Florida appellate court ruled that a testamentary devise may only serve to forgive a debt to the extent the testator’s estate is solvent.
Special thanks to William LaPiana (Professor of Law, New York Law School) for bringing this case to my attention.
