Florida Probate is a process for determining how the distribution of assets, taxes, expenses, and claims are handled upon the passing of a person. There is a formal administration and a summary administration.
ESTATES OVER $75K:
The formal administration is designed to handle the estates with a value over $75,000.00, or if there is no formal will.
The Court appoints a personal representative to handle the estate matters of:
- paying the creditors,
- selling any property, and
- distributing assets.
Florida law requires the aid of an attorney to follow through with a probate process. An attorney represents the estate and has a duty to oversee the matters.
A personal representative also has a duty to follow through with the wishes of a decent as stated in the original will.
ESTATES UNDER $75K:
A summary administration is designed to handle estates under $75,000.00. It is a quicker process than a formal administration.
Trusts are designed to avoid the probate process after the demise of a grantor. If there is no formal will, the Court has the jurisdiction to decide who the beneficiaries will be and how the assets will be distributed.