What Are The Different Types of Probate in Florida?
When a family member dies, there is a lot to deal with. Not only is there grief, but also dealing with a burial or cremation, funeral expenses, and the person’s estate. Everyone has an estate that needs to be handled when they die.
This process is complicated, as it often involves probate. Unless the deceased has a trust in place, the estate will go through probate. Probate is the process of gathering assets, paying off debts, and distributing assets to beneficiaries.
Probate can be complicated. There are specific things that need to be done in a timely manner or else there will be delays. On top of that, there are several types of probate in Florida, so you need to choose the right one. Here is what you need to know.
Formal Administration
Formal administration is used in Florida when the deceased person’s assets exceed $75,000, and the person has been dead for less than two years. In some situations, professionals such as realtors and accountants are needed to perform certain services for the formal administration. There are multiple steps involved, with a judge involved throughout the process. Formal administration is a lengthy process that can take longer than one year.
Summary Administration
Summary administration can be used when a person has been dead for more than two years, or they have an estate valued at less than $75,000. A Summary Administration requires drafting and filing a Petition for Summary Administration, which can be filed by the personal representative or any of the deceased’s beneficiaries. This type of probate is much less expensive than a formal administration and takes just one or two months.
Disposition Without Administration
There are cases in which a person dies and leaves behind a very small amount of assets. In these situations, the normal probate process is not necessary. Florida has a simplified process available in these cases. This is called disposition without administration and is used to quickly transfer the ownership of the decedent’s small estate to an heir or beneficiary. The process allows the person who paid for the funeral and/or final medical bills to get reimbursed using the assets from the deceased person’s estate.
Contact Our West Palm Beach Probate Attorney Today
Dealing with the death of a loved one can be a complicated matter. There are legal issues to handle, and the necessary processes can be confusing.
Get the help you need from West Palm Beach probate attorney Brian K. McMahon, P.A. We can guide you through the process and protect your legal rights. Fill out the online form or call (561) 658-1789 to schedule a consultation. We serve the West Palm Beach, Boca Raton, Port St. Lucie, and South Florida areas.