What Is the Probate Process?
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1st Jun 2021
Probate is a legal process in which a deceased person’s assets and property are distributed to the beneficiaries and rightful heirs. The process may also involve the settlement of any debts and taxes the deceased left behind. There are many nuances in Florida law, and experienced probate attorneys can help assure that you aren’t paying debts you are not required to pay.
What Does Probate Involve?
Florida probate can take different routes depending on the facts following the death of the decedent. Two common forms of Florida probate are Summary Administration and Full Administration. Below is a very generalized overview of the probate process.
A Summary Administration is completed through the use of court orders directing the distribution of the deceased’s assets according to the court order and directive. A Summary Administration is a quicker process, but there are strict criteria when this probate process is permitted. If a Summary Administration is not appropriate, then a Full Administration probate process is required.
A Full Administration of probate requires a probate judge to appoint an individual to act as a Personal Representative, sometimes referred to as the Executor or Administrator, of the deceased’s estate. Often, the personal representative is the person named in the deceased’s will, but if the deceased did not write a will, it is upon the probate court to appoint a person to act as the personal representative. As part of the probate process, the court analyzes the validity of the will by ensuring that it follows the witnesses and signature requirements as per Florida law.
During the probate process, an inventory of the deceased’s assets is provided to the court, all the potential creditors are notified, and a notice to creditors is published. Finally, the court discharges and ends probate after the parties have received the assets they are entitled to according to the deceased’s will, and if the deceased had no will, then according to Florida law.
What Assets Go Through the Probate Process?
Assets that may require probate in Florida are fairly simple to understand. If the deceased was the sole owner of an asset and there are no designations, such as Payable Upon Death (POD) or Transfer on Death (TOD), then that asset may require probate to transfer to the appropriate heir. Common examples of assets are real estate, bank accounts, investment accounts, or life insurance.
Going through the probate process requires an individual to have a support system that will provide them with counsel and attention. At Rooth & Rooth Elder Law Attorneys, we provide clients with various aspects of estate planning, elderly law, and trust administration. Our skilled attorneys in Seminole, FL, dedicate their efforts to providing clients with the individual devotion they need. Contact us today to learn more about our legal services.