Steps Personal Representatives Must Take During Probate

It is never easy to lose someone you love. Learning that you have been named personal representative can be even more overwhelming and stressful during this difficult time. Personal representatives have many legal obligations, particularly during the probate process. Understanding the steps involved can help ensure you know what to expect and make the entire process easier. Below, our St. Petersburg probate and trust administration lawyer explains further.

Filing the Petition for Administration 

One of the first steps in the probate process is filing the petition for administration in the circuit court of the county where the deceased individual lived during their lifetime. The personal representative, a beneficiary, or an heir can file the petition. If a personal representative has been named, they are typically the one to file the petition. The petition essentially asks the court to open probate to administer the estate of the deceased. If a personal representative has not been named, the probate court will appoint one.

Notifying Creditors 

After the court has appointed a personal representative, that individual must then notify all creditors who may have a claim to the estate. The personal representative must publish a notice in the local newspaper to notify unknown creditors. They must also send a notice to known creditors. Creditors then have 90 days to file a claim against the estate.

Inventory and Value Assets 

The personal representative must inventory, appraise, and manage all of the property within the estate. The most common types of property inventoried during the probate process are as follows:

• Bank accounts
• Real estate
• Vehicles
• Personal property, such as furniture, jewelry, and collectibles
• Business interests
• Retirement accounts
• Debts

Some property of the deceased may have to be sold in order to help repay remaining debt.

Distributing Property 

After creditors have been notified and a list of assets has been created, and the property has been valued, the personal representative can then distribute the assets. This includes ensuring beneficiaries receive the inheritance left to them according to the provisions of the will or the intestacy laws in Florida. At this point, the personal representative also pays all debts, bills, taxes, and funeral expenses.

Filing Final Accounting 

Filing the final accounting with the probate court is one of the last steps in the process. This essentially requires the personal representative to submit all details of the property within the estate, the debts that were paid, and how remaining assets were distributed to beneficiaries. It also asks the court to close the estate and discharge the personal representative from their duties. After the court approves the final accounting, the probate process  is closed.

Our Probate Administration Lawyer in St. Petersburg Can Help You Through the Process 

If you are facing the probate process, legal guidance from a St. Petersburg probate administration lawyer is invaluable. At Legacy Protection Lawyers, LLP, our experienced attorney can ensure you are properly prepared and guide you through the process so it is as easy as possible for you. Call us now at 727-471-5868 or contact us online to schedule a consultation and to learn more about how we can help.

Source:

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