Port St. Lucie Probate Attorney
When a loved one dies, you are not only dealing with grief but possibly probate as well. In Florida and all other states, probate is the legal process used to settle a deceased person’s estate. It includes many actions, such as distributing assets to heirs, paying off debts, and finalizing any remaining financial obligations.
The probate process is not easy. There are many steps involved, and complex laws need to be followed. The process can also be time-consuming, lasting one year or longer for more complicated estates. You may not have the knowledge to handle probate on your own.
The Port St. Lucie probate attorneys at Brian K. McMahon, P.A., understand the probate laws of Florida. We can guide you through the process during this difficult time with compassion and empathy. We will work to ensure your rights are protected.
When is Probate Required?
Probate is generally required if the deceased person owned assets solely in their name without designated beneficiaries, such as bank accounts or real estate. Even if a person has a will in place, there needs to be probate.
Certain assets bypass probate if designated properly:
- Jointly-owned assets. Assets with rights of survivorship (like joint bank accounts) pass directly to the surviving owner.
- Beneficiary designations. Life insurance, retirement accounts, and some financial accounts with named beneficiaries pass outside probate.
- Revocable trusts. Assets placed in a trust generally avoid probate.
Types of Probate
Florida recognizes two main types of probate:
- Formal administration. This is reserved for larger estates or those with more complex issues.
- Summary administration. This is for smaller estates (valued under $75,000) or when the decedent has been dead for more than two years.
There is also disposition without administration, which is a type of probate that only takes place if the estate essentially has a negative value. In order to initiate this type of probate, you’ll need to file a special form with the court.
Probate Process
Here’s a look at the probate process in a nutshell:
- File a petition. Typically, the executor or an interested party files a petition to open probate in the circuit court where the decedent lived. If there is no executor, the court appoints one to handle the estate.
- Notice to creditors. Creditors are notified and given time to file claims.
- Inventory and appraisal. The estate’s assets are identified, inventoried, and appraised.
- Debt settlement. Debts, taxes, and expenses are paid from the estate assets.
- Distribution of assets. Remaining assets are distributed to beneficiaries per the will, or Florida intestacy laws if there is no will.
Contact Us Today
The probate process can be tricky. Get help from Port St. Lucie probate attorney Brian K. McMahon, P.A. We will provide you with all the support possible. Schedule a consultation by filling out the online form or calling (561) 658-1789. We serve the West Palm Beach, Boca Raton, Port St. Lucie, and South Florida areas.