What is Probate?

Chapter 733 of the Florida Statutes is titled administration of estates and governs probate administration. Summary or formal probate administration. Decide which of these probate options you are eligible for.

Probate is the legal process used to distribute a deceased person’s estate to heirs according to their last will and testament, if one was written and pay off the debt owed to creditors.

If no will and testament was written or beneficiaries were not designated, the estate’s assets must be distributed by the court-supervised probate process. It is during this process that individuals can ask the court to decide appropriate beneficiaries.

Florida’s Probate Options

In Florida, Clients can be eligible for two forms of probate;

• Formal Administration – This type of probate is required if the decedent has been dead for two years or less or if the value of their estate exceeds $75,000.

• You are eligible to serve as personal representative.
• Is a slower process, but you will have more power and can accomplish more since you can serve as personal representative.
• The time frame is approximately four to 12 months. If litigation is necessary, the time frame can be longer.
• Whichever probate you are eligible for, all creditors will need to be paid.
• The existence of a will is not required.
• A costlier process involving more work.

Steps of Formal Administration Probate:

• Documents are prepared.
• A personal representative is appointed.
• There will be a publication of notice to creditors, if necessary.
• Filing the inventory of the decedent’s estate.
• Once the probate process is complete, the remaining assets will be distributed according to the wishes stated in the will. In the event there is not will, assets will be distributed according to state law.
• The closing of the estate.

Chapter 735 of the Florida Statutes is titled ‘Small Estates’; Summary Administration and Disposition of Personal Property

• Summary Administration – The decedent must be dead for two years or more or the value of the estate must not exceed $75,000.

• If the estate is small($75,000 or under), summary administration probate can be utilized.
• If the decedent’s assets exceed $75,000, but they have been dead for over two years, summary administration can be utilized.
• You can not be appointed as personal representative.
• Is a faster process, however you have less power since you cannot serve as a personal representative.
• The time frame is three to five months.
• Whichever probate you are eligible for, all creditors will need to be paid.
• The existence of a will is not required.
• A less costly option involving less work.

Disadvantages of Not Being Able to Serve as Personal Representative During the Probate Process:

• It is more difficult to pay off creditors, if necessary.
• It is more challenging to discover the decedent’s assets.
• Lenders and bankers will not discuss the decedent’s personal information with you.
• You have no power to defend against any claims on the decedent’s claims.

There is a 2-year rule due to the Florida Statute 733.710 limiting claims against an estate for up to two years. Beneficiaries are not liable for any claims against the decedent within those two years.

Steps of Summary Administration Probate:

• Documents are prepared.
• There will be a publication of notice to creditors.
• Distribution of funds to creditors, if necessary.
• Once the probate process is complete, the remaining assets will be distributed according to the wishes stated in the will. In the event there is not will, assets will be distributed according to state law.

Paul J Burkhart is an experienced probate attorney. If you are an heir to an estate, please call our office for legal advice. We can determine which probate process you are eligible for and help you throughout the probate process.

Estate Planning Attorney Palm Beach Gardens

Paul J. Burkhart

Paul J. Burkart is a Palm Beach business and corporate law attorney with experience in all areas of business. Our team assists both individual and business clients with all their legal needs, including; Business and Corporate Transactions, Business/Commercial and Civil Litigation, Real Estate, Intellectual Property, Family Law, and Estate Planning matters. We are a full-service private law firm ready to assist your business with any request, large or small.

Our team assists both individuals, and business clients with all their legal needs, including business and Corporate Transactions, Business/Commercial and Civil Litigation, Real Estate, Intellectual Property, Family Law, and Estate Planning matters. We are a full-service private law firm ready to assist you with any request, large or small. Call 561-880-0155 or visit our website.

 

Law Offices of Paul J Burkhart, PL
800 Village Square Crossing
Palm Beach Gardens, FL 33410
Phone: (561) 880-0155

 

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