The administration and settling of a Florida Probate Estate can be more complex than probate administration in any other state. I have over four decades of legal experience handling Florida estate administration and litigation. Florida Probate Estate Administration (Formal or Summary) is necessary when a Florida resident passes away owning any of the following assets: (i) bank account in his or her sole name; (ii) life insurance policy payable to his or her estate; and (iii) real estate titled in the sole name of the decedent (unless it is homestead). Florida Probate Administration (Ancillary Administration) is also necessary when a non-Florida resident passes away owning real property in the state of Florida.
When a Florida resident passes away with a Last Will and Testament, the process is known as "Testate Administration." If the Florida resident passes away without a Last Will and Testament, the process is known as "Intestate Administration." There are two distinct types of probate administration under Florida law: Formal Administration (probate assets valued in excess of $75,000) and Summary Administration (probate assets valued under $75,000).
The Florida Probate Administration process begins with the filing of the deceased Florida resident's original Last Will and Testament (“Will”) with the appropriate Florida Probate Court and the preparation and filing of a Petition for Administration (the “Petition”). The Petition requests the Florida Probate Court to: (i) open a probate estate for the administration of the assets of the deceased Florida resident, (ii) accept the Will (if any), and (iii) appoint a Florida personal representative (by issuance of Letters of Administration). After the Letters of Administration are issued, all known beneficiaries and creditors receive notice of the filing of the Florida probate proceeding. A Notice of Administration or Notice to Creditors is then sent to any known party who may have a claim against the estate of the deceased Florida resident. The Florida Probate Estate Administration process also involves identifying and securing estate assets and determining which tax returns the estate is required to file. A list of all assets in the Florida Probate Estate and their values must be timely filed with the Florida Probate Court in the form of an inventory. Once the Florida Personal Representative or the Florida Probate Court determines that all costs of administration and valid creditors' claims have been paid, the next step is the distribution of the Florida probate assets to the beneficiaries named in the decedent’s Will. Once completed, the Florida Personal Representative will present either a formal accounting or waiver(s) to the Florida Probate Court. The court reviews the file, and if all requirements have been met, the Florida probate judge will sign an order discharging the personal representative. This order effectively closes the Florida probate estate.
A Florida intestate estate proceeding is required when a Florida resident dies without a Last Will & Testament. The Florida intestate will commence when any interested person (heirs or creditors) file a petition for administration with the local Florida probate court of the decedent. The petitioner must state their interest in the estate,
A Florida intestate estate proceeding is required when a Florida resident dies without a Last Will & Testament. The Florida intestate will commence when any interested person (heirs or creditors) file a petition for administration with the local Florida probate court of the decedent. The petitioner must state their interest in the estate, information about the last known address of decedent, names of known beneficiaries, a request for the court to appoint a Florida personal representative, and finally, in an intestate estate, a statement that after exercising reasonable diligence to locate any unrevoked wills, that none can be located. Under Florida laws of intestacy, the surviving spouse (if any) is entitled to preference in being appointed the Florida personal representative of an estate. If there is no spouse, then a majority in interest of the heirs may select the Florida personal representative. In either case, the court will make the final decision. Once the court makes that final decision, letters of administration are issued, which state that the Florida personal representative has been appointed and qualified by the Florida Probate Court to handle the deceased’s Florida estate. The Florida personal representative must be represented by a Florida licensed attorney throughout this process. After the Letters of Administration are issued, the Florida personal representative must then serve this notice to all known beneficiaries and creditors. A Notice of Administration or Notice to Creditors is then sent to any known party who may have a claim against the estate of the deceased Florida resident. Any interested person who receives notice has three months to file an objection challenging the qualification of the appointed personal representative, the venue, or the jurisdiction of the court. Once the Florida Probate Court determines that all costs of administration and valid creditors' claims have been paid, the next step is to distribute the Florida probate assets via the Florida Statutes governing intestacy.
Inheritance of a Florida homestead real property is not subject to probate or creditor claims. Title to a Florida homestead transfers to heirs without waiting for the completion of probate proceedings. A surviving spouse or minor child(ren) will inherit a homestead regardless of the verbiage contained in a Last Will & Testament or the amo
Inheritance of a Florida homestead real property is not subject to probate or creditor claims. Title to a Florida homestead transfers to heirs without waiting for the completion of probate proceedings. A surviving spouse or minor child(ren) will inherit a homestead regardless of the verbiage contained in a Last Will & Testament or the amount of money owed by the deceased owner.
If the decedent’s heirs or trustees sell the homestead after death, the sale proceeds will pass to the decedent’s probate heirs and trust beneficiaries.
For a Florida homestead property to pass through the Florida probate process it must be the decedent's primary residence.
FS 732.402 Exempt property.—
(1) If a decedent was domiciled in this state at the time of death, the surviving spouse, or, if there is no surviving spouse, the children of the decedent shall have the right to a share of the estate of the decedent as provided in this section, to be designated “exempt property.”
(2) Exempt property shall consist of:(a) Household furniture, furnishings, and appliances in the decedent’s usual place of abode up to a net value of $20,000 as of the date of death.
(b) Two motor vehicles as defined in s. 316.003, which do not, individually as to either such motor vehicle, have a gross vehicle weight in excess of 15,000 pounds, held in the decedent’s name and regularly used by the decedent or members of the decedent’s immediate family as their personal motor vehicles.
(c) All qualified tuition programs authorized by s. 529 of the Internal Revenue Code of 1986, as amended, including, but not limited to, the Florida Prepaid College Trust Fund advance payment contracts under s. 1009.98 and the Florida Prepaid College Trust Fund participation agreements under s. 1009.981.
(d) All benefits paid pursuant to s. 112.1915.
(3) Exempt property shall be exempt from all claims against the estate except perfected security interests thereon.
(4) Exempt property shall be in addition to protected homestead, statutory entitlements, and property passing under the decedent’s will or by intestate succession.
Florida probate administration fees may be charged as a percentage of the value of the estate (flat fee) or on an hourly basis. Unlike the vast majority of law firms, we offer our probate estate administration services on a LOW FLAT FEE BASIS. Most firms will tell you that they are going to bill you based on an hourly rate or that their f
Florida probate administration fees may be charged as a percentage of the value of the estate (flat fee) or on an hourly basis. Unlike the vast majority of law firms, we offer our probate estate administration services on a LOW FLAT FEE BASIS. Most firms will tell you that they are going to bill you based on an hourly rate or that their fee will be determined on a percentage basis, depending on the size of the estate.
WHAT DOES THIS REALLY MEAN? It means that you might be in for a big surprise when the bill arrives. Likewise, on an hourly fee basis,you won't know what you are actually going to pay until the estate has been completed. You will be entirely at the mercy of the attorney. What will a telephone call or a simple letter from your attorney actually cost you? We take the surprise and fear out of the entire probate process.
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What is a Florida Probate Asset:
Any asset (real estate estate, bank account, brokerage / stock account, retirement account, automobile, mobile home, ...) titled solely in a decedent's name. A Pay-on-Death or Transfer - on - Death account is not a probate asset.
Does a Personal Representative or Beneficiaries have to pay an estate’s creditors if there are insufficient funds?
A Personal Representative, heir, or beneficiary can’t be made responsible for the debts of an estate without their consent.
How long does Florida probate take:
A Florida probate estates that are not required to file a federal estate tax return and are not involved in litigation can typically be closed in between five and six months. A Florida probate estate that is required to file a federal estate tax return will remain open for two years. However, partial distributions may be made to the heirs and beneficiaries during the probate process. After all estate creditors and taxes have been first satisfied.
Who can be a Florida Personal Representative? A Florida personal representative can be a (i) spouse, (ii) parent, (iii) child, (iv) sibling, (v) close relative, or (vi) individual who is a Florida resident. Alternatively, a financial institution that is qualified to exercise fiduciary powers in Florida can serve as a Florida, personal representative.
Is a Florida Personal Representative entitled to a fee for his, her, or its services for the estate? A Personal Representative may earn a fee equal to 3% (approximately) of the probate estate for their work. The Personal Representative will also be reimbursed for all out-of-pocket expenses incurred in managing and settling the estate.
What happens if a Fiduciary does not fulfill his/her duties:
A Personal Representative who fails to fulfill his/her/its duty can be held personally liable for any damages caused in the administration of the estate. Liability may arise from selling an asset without the authority to do so, or at an inappropriate price, improperly managing the assets of the estate, neglecting to file tax returns on time, failing to collect claims, and sums of money due to the estate, distributing property to the wrong beneficiaries, etc. A Personal Representative may be responsible for paying for the loss out of his/her/its own pocket.
This website has been prepared for informational purposes only and does not constitute legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice from an attorney licensed in your jurisdiction. The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask me to send you free written information about my qualifications and experience.