FAQs About Probate In Florida

Probate is a court-supervised process that oversees the distribution of a person’s estate after they pass away. Although many people have heard of probate, they do not always have a full understanding of what it entails, what to expect, or other important aspects. As such, if they ever have to go through it, they have many questions. Below, our St. Petersburg probate administration attorney answers some of the questions we most often hear.

What Happens During Probate? 

During probate, the property of the deceased is inventoried and valued. Creditors can make claims against the estate for unrecovered debt, taxes are paid, the will is confirmed if the decedent left one, and ultimately, the remaining assets in the estates are distributed according to the terms of the will or the intestacy laws of the state. There are different types of probate in Florida, depending on the size of the estate and the length of time that has passed since the death.

What Property is Subject to Probate? 

Generally speaking, any property owned by the deceased person, is subject to probate. However, there are certain exceptions. These include co-owned property with a right of survivorship, accounts with beneficiary designations, payable-on-death and transfer-on-death accounts, and property placed in a trust.

What Does a Personal Representative Do? 

The personal representative plays a very big role during probate. The personal representative administers the estate according to the law and the decedent’s instructions. They are either named in the decedent’s estate plan or the court will appoint them. When administering an estate, the personal representative is responsible for the following:

• Identify, gather, value, and safeguard the assets within the estate
• Publish a notice to creditors
• Defend will contests, trust challenges, and other legal disputes
• File tax returns and pay taxes
• Pay administrative expenses
• Provide accounting to beneficiaries
• Distribute property to beneficiaries
• Close probate administration

How Long Does Probate Take? 

The length of the probate process can vary, depending on the type of probate that is necessary. Formal administration, which is the most common type, can take one year or more, depending on if there are disputes and the complexity of the assets. Summary administration can take anywhere from a few weeks to a few months, but this type of probate is reserved for smaller estates.

How Much Does Probate Cost? 

The cost of probate varies depending on a number of factors. The cost can range from a few hundred dollars to hundreds of thousands of dollars. The costs of probate include court fees, attorney’s fees, personal representative’s fees, and others. Florida law outlines a sliding scale for both attorneys and personal representatives based on the size of an estate.

Do I Need a Probate Administration Attorney in St. Petersburg? 

Although everyone is advised to work with a St. Petersburg probate administration attorney, it is required for certain individuals, such as personal representatives. At Legacy Protection Lawyers, LLP, our seasoned attorneys can guide you through the process, provide the legal advice you need, and make the process less stressful for you. Call us today at 727-471-5868 or fill out our online form to request a consultation so we can review your case.

Source:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0733/0733ContentsIndex.html