The probate process is a key concern during estate planning or after a relative’s passing. Many people’s concerns come from not being familiar with Florida probate rules, which they do not deal with regularly. With this post, we hope to provide a simple guide to people’s common concerns about probate in Florida.
A Simple Guide to Florida Probate Rules
The Necessity of Probate
Most people’s first question is whether all estates must go through probate. For example, the estate might not require probate if the decedent had little to no assets in their name. Some estates can also avoid probate by having named beneficiaries for various assets or by creating a living trust.
Formal and Summary Probate
Estates in Florida can go through formal probate and summary probate. Formal probate is for larger estates that may involve more complex matters. Summary probate is simpler and generally reserved for estates valued under $75,000. Another difference is that summary probate also tends to be cheaper and quicker.
Personal Representatives
A personal representative is an individual appointed to administer probate. Their duties include accounting for assets, paying debts, and distributing the remaining assets to beneficiaries. In Florida, a personal representative must be either a Florida resident or a close relative of the deceased. The decedent’s will may also name the representative. However, the law prohibits convicted felons and people under 18 from serving in this role.
Assets Covered by Probate
The first point to understand is that probate assets only include those for which the decedent had sole ownership. Assets that may go through probate include real estate, vehicles, investments, and personal items. However, not all assets will go through probate. For example, if the decedent had a jointly owned home, it would pass to the other owner. Bank accounts and insurance policies with beneficiaries also would not go through probate.
Jurisdiction for Probate
Florida probate only applies to residents of the state. Even if they created their will in Florida and moved, Florida probate would not apply. If the individual was a Florida resident, the county where they live would be the proper jurisdiction. You could go to that county’s clerk to file the will and other probate paperwork.
Probate With no Will
It is not uncommon for people to die with no will. When this occurs, the law considers the estate intestate. The probate process may distribute the estate’s assets depending on the circumstances. For example, if the individual has a surviving spouse, the spouse might assume all the property. However, the distribution would change if the decedent had children outside the marriage.
Probate can be complicated depending on the estate, making estate planning important. Drafting a will can simplify the process for your loved ones and ensure your wishes. Do you need help with estate planning or probate in Florida? Click here to contact Scott Law Offices. We are elder law experts serving Florida’s seniors and their families. Reach out now to learn more about our service.
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