What is Probate?
Probate in Florida is the legal process of administering a deceased person’s estate, ensuring debts are paid, and assets are distributed according to the will or state law if no will exists.
Where is Probate Handled in Florida?
Probate in Florida is handled by the Circuit Court in the county where the deceased resided at the time of death. Each of Florida’s 67 counties has a Circuit Court that oversees probate matters.
Key Steps in the Probate Process in Florida
- File the Will: The executor must file the will with the Circuit Court. If no will exists, a family member or other interested party can apply to be the personal representative.
- Inventory and Appraise the Estate: The personal representative must inventory the deceased’s assets, such as real estate, bank accounts, and personal items, and provide a valuation to the court.
- Notify Creditors: Creditors must be notified by mail, and a notice must be published in a local newspaper to alert any unknown creditors. Creditors generally have three months to file claims.
- Pay Debts and Taxes: The estate must settle any outstanding debts and taxes, including federal estate taxes if applicable.
- Distribute Assets: Once debts and taxes are settled, the remaining assets are distributed to beneficiaries according to the will or, if no will exists, according to Florida’s intestacy laws.
When Is Probate Required in Florida?
In Florida, probate is required when the deceased owned assets solely in their name without a joint owner or beneficiary designation. Probate is necessary to legally transfer these assets to heirs or beneficiaries.
Types of Probate in Florida
- Disposition Without Administration: A simplified process for small estates where no real property is involved and the estate’s value only covers final expenses.
- Summary Administration: Available for estates valued at less than $75,000 or if the decedent has been deceased for more than two years, allowing a streamlined probate process.
- Formal Administration: Required for larger or more complex estates. This involves full court supervision, including the appointment of a personal representative.
Avoiding Probate in Florida
Certain assets in Florida can bypass probate, including jointly owned property, payable-on-death accounts, life insurance policies with named beneficiaries, and assets held in a living trust.
How Long Does Probate Take in Florida?
In Florida, probate can take six to nine months for simpler estates. For larger or more complex estates, especially those requiring formal administration, it may take a year or longer.
Common Terms in the Probate Process in Florida
- Affidavit of No Florida Estate Tax Due: A form used when an estate does not owe Florida estate taxes.
- Intestate: Dying without a valid will.
- Letters of Administration: A court-issued document that authorizes the personal representative to manage the estate.
- Personal Representative: The person responsible for administering the estate, also known as the executor or administrator.
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