Jon L. Martin, Attorney at Law
What Is The Probate Process In Florida?
Probate administration involves collecting the assets of the deceased person, also known as the decedent, paying their debts and taxes and distributing remaining property to beneficiaries. If the decedent left behind a valid will, it probably indicates a personal representative to administer the estate as well as instructions on how to do so. If the decedent did not leave a valid will, the state of Florida will select a person, bank or trust company to serve as his or her personal representative and the property will be distributed according to intestate laws.
Types of Probate in Florida
In the state of Florida, there are two types of probate: formal administration and summary administration. If an estate is worth less than $75,000, a beneficiary of the estate can request a summary administration probate within two years after the decedent’s passing. If there are no outstanding debts or objections from creditors and the petition from the beneficiary is approved, the assets will be immediately distributed. If an estate is ineligible for summary administration and other probate alternatives, it will pass through the process of formal administration.
Formal administration probate requires the courts to take an active role in each transaction and is more expensive and time consuming than summary administration. Regardless of the type of probate the estate you are administering is going through, a probate attorney from our law firm can walk you through the process and assist you with any bumps in the road.
If you recently lost a loved one, you may be interested in learning more about probate from a Forida probate lawyer on the Treasure Coast Florida. Probate is a court-supervised process for identifying and gathering a decedent’s assets, paying off the decedent’s debts, and distributing the remaining assets to the decedent’s beneficiaries. In Florida, usually the decedent’s assets are first used to pay the cost of the probate proceedings, then they are used to pay any outstanding debts and claims against the estate, and the remainder is distributed amongst the decedent’s beneficiaries. There are two different types of probate administration in Florida: formal administration and summary administration. Probate administration specifically applies to probate assets. These are assets that the decedent owned in his or her sole name at the time of death, or they can be assets that were owned by the decedent and one or more co-owners, but lacked provisions for automatic succession upon death.
Probate assets can include any one or all of the following, and more:
• Bank accounts in the sole name of the decedent
• Life insurance policies, IRAs, or annuities payable to the decedent’s estate (not to a beneficiary)
• Real estate titled in the sole name of the decedent
The personal representative is the individual named in the will, or it can be a bank, a trust company, an estate lawyer or another individual appointed by the judge who is in charge of the administration of the estate. The personal representative is responsible for administrating the probate estate according to Florida law.
Estate Planning and Administration for Out-Of-State Clients
Have you been named an executor of an estate in Florida, even though you live in another state? At first these legal situations can seem confusing, overwhelming and burdensome. Jon L. Martin, an Estate Lawyer, can assist you and alleviate your concerns today! No matter where you live, our law firm can help you with your estate planning and administration needs.
We have experience handling a wide range of legal matters including:
• Probate Law
• Probate Administration
• Probate Litigation
• Distribution of Assets
• Asset Protection
At our law firm, we do everything within our power to provide client-focused legal services. One way in which we achieve this is by offering services to out-of-state survivors/beneficiaries of a deceased Florida resident. We administer all sizes of estates and can provide you with the peace of mind you desperately seek.
During this emotional and hectic time we think that it is important that you are not additionally laden with multiple trips to Florida to administer an estate. We offer experienced legal counsel and are able to handle all of the aspects of the final affairs of a Florida decedent if you are an out of state family member that cannot be present before or after executing an estate plan.
We can explain to you everything you need to know about debt and creditor obligations, tax issues, and assets passing outside of probate, property valuation, business succession and distribution of assets to beneficiaries. We offer thorough probate and estate administration services including reviewing the testamentary will, explaining the probate process, advising executors and handling all aspects of Florida estate administration in Florida probate court.
To discuss your specific lawyer needs, please contact Jon L Martin at (772) 419-0057 or he can be emailed at email@example.com