Probate Administration
Probate is a critical legal process for the settlement of a deceased individual's estate. HH Law specializes in guiding clients through Florida’s specific probate procedures with expertise and compassion.
Understanding Probate in FloridaWhat is Probate? Probate as defined under Florida Statutes, Chapter 731-735, is the court-supervised process that involves distributing a decedent's assets to beneficiaries. It ensures all debts, including taxes and expenses, are paid in accordance with state law. If there is a Last Will and Testament, the court will admit that Will to probate and it will be the guide for the administration of the Estate. If there is no Will, the Florida Intestacy Statute will be followed.
Types of Probate Administration in Florida Include:
Formal Administration Florida StatutesChapter 733
Applicable for estates with assets exceeding $75,000.
Involves the appointment of a personal representative to manage the estate, which includes gathering assets, paying debts, and distributing the remaining assets to beneficiaries.
Formal administration is a detailed process, often necessary for larger or more complex estates.
Summary Administration Florida StatutesSection 735.201
Suitable for estates with less than $75,000 in non-exempt assets or when the decedent has been deceased for more than two years.
This streamlined process simplifies the probate procedure, allowing for a quicker resolution.
Requires filing a petition that includes a full list of assets, their value, and proposed distribution.
Disposition Without AdminFlorida StatutesSection 735.301
Available for very small estates, typically when the decedent’s assets are only enough to cover funeral expenses and medical expenses incurred in the last 60 days.
This process involves less court intervention and is the simplest form of probate.
Minimal filing is required for this type of estate to be distributed.
Role and Responsibilities of the Personal Representative
The personal representative plays a vital role in managing the estate. Florida Statutes, Sections 733.602-733.621, outline their duties and powers. These include identifying and valuing and marshaling the estate's assets, settling debts, and distributing the remaining assets to the beneficiaries.
Probate and Asset Distribution
Probate assets are those solely in the name of the decedent, such as certain bank accounts, brokerage accounts, insurance death benefits and real estate. The probate process, under Florida law, is essential for legally transferring these assets to the beneficiaries, whether according to a will or, in its absence, under Florida’s intestacy laws. It is important to note that a Will can NOT transfer assets outside of probate.
Importance of Legal Guidance
Due to the complexity and varying nature of probate cases, it's crucial for personal representatives to seek legal assistance. HH LAW provides comprehensive support in navigating Florida’s probate laws, ensuring a smooth, efficient and compliant probate process.
Contact HH LAW for Probate Support
With a deep understanding of Florida probate statutes and a commitment to personalized client service, our team is prepared to guide you through every aspect of the probate process. Reach out to us for expert assistance in managing your probate responsibilities. We are happy to answer any questions you may have about the Florida probate process.