What is the Best Probate Option for Me in Florida?
By Jacqueline R. Bowden Gold, Broward Probate Attorney
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Navigating the probate process can be daunting, especially during an emotionally challenging time. Florida law provides several probate options tailored to the complexity of the estate, the size of the assets, and the circumstances of the decedent. Choosing the right probate option is essential to saving costs and ensuring an efficient transfer of assets.
Probate is the court-supervised process of validating a deceased person’s will, identifying assets, paying off debts, and distributing the remaining property to heirs or beneficiaries. While it is sometimes necessary, the type and complexity of probate depend on the size and nature of the estate.
Probate Options for Filing in Florida
- Formal Administration: This is the most common type of probate in Florida and applies when:
- The value of the estate exceeds $75,000, or
- The decedent passed away less than two years ago.
Process:
Formal administration involves appointing a personal representative (executor) to manage the estate. The representative is responsible for gathering assets, notifying creditors, paying debts, and distributing assets to beneficiaries.
Best for:
- Larger or complex estates.
- Creditor Issues
- Situations where disputes among beneficiaries are anticipated.
- Estates with assets that need oversight, such as real estate or investments.
- Summary Administration: This is a simplified probate process available when:
- The total value of the estate is $75,000 or less, or
- The decedent passed away more than two years ago, regardless of estate value.
Process:
Summary administration skips the need for appointing a personal representative. Instead, the court orders the distribution of assets directly to the heirs or beneficiaries by Petition of an interested party. This option is not open for everyone as only people nominated to act as Personal Representative under a Last Will can file or an interested party.
Best for:
- Smaller estates.
- Estates without significant debts or disputes.
- Quick resolution for heirs when the decedent has been deceased for over two years.
- Disposition of Personal Property Without Administration: This is an informal process used for very small estates where:
- The only assets are exempt personal property or non-exempt personal property whose value does not exceed the amount of final expenses, such as funeral costs or medical bills. This probate option is convenient when the assets are so low it doesn’t make sense to hire an attorney.
Process:
Heirs or beneficiaries can request reimbursement for out-of-pocket expenses directly from the court without going through a formal probate process.
Best for:
- Cases where there are no significant remaining assets beyond what is needed to cover expenses.
- Estates with minimal assets and no debts.
- Ancillary Administration: If the decedent owned property in Florida was not a resident of the state, ancillary administration is required.
Process:
Ancillary probate works in conjunction with the probate process in the decedent’s home state. It focuses solely on managing and distributing the Florida-based assets.
Best for:
- Non-residents with property in Florida.
- Estates involving multiple jurisdictions.
Tips to Avoid Probate Altogether
In Florida, it’s possible to plan your estate to minimize or even avoid probate entirely. Tools like revocable living trusts, beneficiary designations, and joint ownership with rights of survivorship can help streamline the transfer of assets upon death, sparing your loved ones the time and expense of probate.
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Need Assistance?
Navigating probate can be complicated. Contact attorney Jacqueline Bowden Gold to review what probate option is best for you. Understanding the different probate options in Florida is key to making informed decisions during a challenging time. Whether you’re handling a small estate or managing complex assets, we’re here to help make the process as smooth as possible. By understanding your options, you can ensure your loved one’s estate is handled efficiently, honoring their wishes while protecting your peace of mind.
This article is intended for informational purposes only. It is important you consult with an experienced probate attorney. For more information contact attorney Jacqueline R. Bowden Gold at (305) 556-5209 or by email JBowden@raricklaw.com.