What Are The Different Types Of Probate In Florida?

It can be daunting to navigate the probate process, particularly when you are already going through a very difficult and emotional time. There are different types of probate in Florida and the process that is right for you will depend on the complexity of the estate, the value of property in the estate, and the situation of the deceased. Choosing the right option can ensure an efficient transfer of property and save costs. Below, our Florida probate and trust administration attorney explains further.

Formal Administration 

The most common type of probate in Florida is formal administration. This type of probate is required when the property in the estate exceeds $75,000 and the deceased passed away less than two years ago. During formal administration, a personal representative is appointed, and they will administer the estate under the oversight of the probate court. Generally, formal administration is most appropriate when the following apply:

• The estate is large and complex;
• There are creditor issues to resolve;
• There are anticipated disputes among the beneficiaries; and
• There is property in the estate that requires certain oversight, such as the sale of real property.

Summary Administration 

Summary administration is a simplified type of probate. A summary administration is followed when the value of the estate is $75,000 or less or the decedent passed away two or more years ago. No personal representative is appointed during summary administration. Instead, interested parties can submit a petition for summary administration to the court, which  will distribute property to the beneficiaries pursuant to the petition. Summary administration is best for the following:

• Small estates valued at $75,000 or less;
• Estates that do not involve disputes or significant debts; and
• Faster resolution for beneficiaries when the decedent passed away two or more years ago.

Disposition of Personal Property Without Administration 

This type of probate is not really a probate process at all. Disposition of personal property without administration is reserved for the smallest estate, specifically when the total value of the assets, excluding exempt property, is less than the amount of the final expenses of the estate administration such as medical bills and funeral costs. This is the most convenient option when property has a lower value and hiring an attorney is not practical. Instead, beneficiaries can petition the court to reimburse out-of-pocket expenses.

Our Probate and Trust Administration Attorney in Florida Can Help You Through the Process 

Regardless of the type of probate process you need to navigate, it is always recommended that you seek the help of a Florida probate and trust administration attorney. At Legacy Protection Lawyers, LLP, our experienced attorney can advise on the type of probate right for you and guide you through the process to make it as easy as possible for you. Call us now at 727-471-5868 or contact us online to schedule a consultation with our experienced attorney.

Source:

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