Probate administration in Florida refers to the legal process through which a deceased person’s assets are identified, managed, and distributed among beneficiaries or heirs. The process is supervised by the court to ensure that the decedent’s debts are paid, and their property is distributed in accordance with the law. Here is an overview of probate administration in Florida:
The probate process begins when a person, usually a close relative or the nominated personal representative in the decedent’s will, files a petition with the probate court in the county where the deceased person resided.
Formal Administration: This is the most common type of probate proceeding in Florida for estates with a value exceeding $75,000 or when the deceased has been dead for less than two years. Due to its complexity it usually requires the guidance of a probate administration attorney.
Summary Administration: This is an expedited probate proceeding that is available when the decedent has been dead for more than two years or when the value of the entire probate estate subject to administration is $75,000 or less. This proceeding generally faster and less costly than formal administration.
The court appoints a personal representative, also known as an executor if named in the will. If there is no will or the nominated executor is unavailable, the court will appoint someone to serve in this role.
The personal representative is responsible for identifying, gathering, and inventorying the decedent’s assets. These assets may include real estate, bank accounts, investments, personal property, and more.
The personal representative must notify known creditors of the decedent’s death, and they publish a notice to creditors in a local newspaper to alert potential creditors. Creditors then have a limited time to file claims against the estate. A probate administration attorney can help ensure that timeframes are met.
The personal representative is responsible for paying valid debts, taxes, and administrative expenses of the estate using the assets from the estate. This includes filing the final income tax return for the deceased person.
After all debts and expenses are paid, the remaining assets are distributed to the beneficiaries or heirs according to the decedent’s will or Florida intestacy laws if there is no will. A probate administration attorney can help protect your interests up to this point.
Once all the tasks are completed, the personal representative files a final accounting with the court, and upon approval, the estate is closed.
It is important to note that Florida law provides for exemptions and allowances that may impact the distribution of assets, and the probate process can vary depending on the specific circumstances of each case. Seeking the assistance of an experienced probate administration attorney is advisable to navigate the complexities of the process.
