PROBATE
Advice and assistance to individuals who need to probate a love one’s estate.
Losing a loved one is difficult, and this can be made even more stressful if that loved one left behind assets that need to be distributed through the legal system. Pamela A. Popwell, PLLC will help you with the daunting task of administering the estate, so you can focus on more important matters following the death of a loved one.
What is Probate?
Probate is a court-supervised process for identifying and gathering the assets of a deceased person (decedent), paying the decedent’s debts, and distributing the decedent’s assets to his or her beneficiaries.
Whenever someone dies who owns property in the State of Florida, regardless of whether they reside in Florida at the time of death and regardless of whether they are a citizen of the United States, Florida laws come into play to ensure the steady and secure transition of ownership of that property. This legal process has been defined as “probate,” and it can range from the simplest of matters resolved in a matter of weeks months to a protracted and years’-long battle in the Florida court involving significant amounts of both time and money.
Types of Probate:
Formal Administration– This is the more complex and lengthy type of probate administration that is required if the estate not including exempt assets is greater than $75,000. A probate lawyer must be used in formal probate administration, also a personal representative must be appointed by the court regardless of what the Will states. A probate attorney will prepare the documents and file with the correct court, and assist and advise the personal representative on how to publish the Notice to Creditors required by statute, asses the determination of homestead if appropriate, distribute assets to beneficiaries after creditors have been satisfied, prepare final tax returns, sale of property, obtain the execution of all documents by all beneficiaries, and closing of the estate. A Personal Representative is the only person that has standing to defend an estate involving litigation, a probate lawyer will act as the attorney that represents the Personal Representative against all others.
Summary Administration – This type of simplified and quicker administration is for estates under $75,000 (not including homestead or exempt property), or when the decedent has been dead for more than two years. Summary administration will avoid the appointment of a personal representative. A Petition for Summary Administration is submitted to the proper court asking to distribute the assets according to the law or per the Will. If the petition is granted the court will issue an Order of Summary Administration, allowing assets to be distributed to the correct beneficiaries. A probate lawyer will be able to file the probate petition and expedite the process for you.
Probate FAQ
What does the Probate process include?
The probate process can include:
• Proving that the decedent’s will is valid.
• Identifying and preparing an inventory of the deceased’s assets.
• Notifying creditors and heirs of the probate case.
• Paying debts.
• Filing taxes.
• Distributing the assets.
What are the types of probate administration in Florida?
Generally, there are two types of probate administration under Florida law: formal administration and summary administration.
A “formal administration” is the more involved of the two kinds of Florida probate administrations. A formal probate administration requires a minimum of five months to complete, and most take longer.
“Summary administration” is a short form” of probate for certain smaller or older estates, which is quicker and cheaper than the “formal administration” used for most Florida probate administrations.
What assets are included in Probate?
Probate assets are any assets that are owned solely by the decedent. This can include the following:
Real property that is titled solely in the decedent's name or held as a tenant in common
Bank accounts that are solely in the decedent's name
An interest in a partnership, corporation, or limited liability company
Any life insurance policy or brokerage account that does not list a beneficiary or lists either the decedent or the estate as the beneficiary
Why do I need to Probate when they decedent died with a will?
Contrary to popular belief, a will does not avoid probate. If the decedent left a valid will, unless the will is admitted to probate in the court, it will be ineffective to pass ownership of probate assets to the decedent’s beneficiaries.
What happens if the Decedent didn’t have a will?
If the decedent had no will, probate is necessary to pass ownership of the decedent’s probate assets to those persons who are to receive them under Florida law. Someone who dies without a valid will is “intestate.”
How can you avoid probate?
Regardless of why you want to avoid probate, there are steps you can take to try to avoid probate if you plan properly. For more information visit http://pammillerlaw.com/practice/life-and-estate-planning/