Probate is an essential part of settling the estate of an individual following their death. During probate, the last will and testament of the deceased is verified so their assets can be distributed among their beneficiaries. Florida has state–specific laws that dictate how the probate process works.
The probate process is meant to ensure that the estate of the deceased is handled according to their wishes. Most of the steps of probate are handled by the personal representative of the deceased, who can be paid a portion of the value of the estate for carrying out this duty under Florida law.
A Boca Raton probate and trust administration lawyer can help with the process.
What Is Probate?
Probate is the court process for transferring the assets of a deceased person to their beneficiaries. In Florida, assets are transferred to family members unless the deceased has a will stating other beneficiaries.
During probate, the personal representative for the deceased, who is typically either a family member or someone designated in the will, goes through the process of beginning probate proceedings, paying creditors and taxes, and distributing assets, before finalizing probate once all assets have been transferred.
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Steps in the Probate Process
Many steps must be taken to complete the probate process in Florida. An experienced probate attorney can help walk you through each step of the process to ensure it is completed accurately and efficiently.
Determining Probate Assets
The first step in the probate process is determining the assets that are to be managed. Probate assets can include a variety of items belonging to the deceased, including:
- Properties
- Vehicles
- Personal valuables
- Bank accounts
- Investment accounts
Meanwhile, if there is a surviving spouse or other family member who jointly owned any assets with the deceased, these assets are not subject to probate.
Filing a Petition With the Probate Court
After determining which of the deceased’s assets are governed by the probate process, the next step is for the personal representative to have their attorney file a petition with the probate court in the county of residence for the deceased.
Once a petition has been filed, all legal heirs and beneficiaries of the estate will be formally notified that the estate of the deceased is open.
The court will issue Letters of Administration, which designate the personal representative for the deceased, allowing them to access assets and begin estate administrative tasks, including opening a bank account for the estate.
Notifying Creditors
The next step is for the personal representative to notify any creditors the deceased may have had that the estate is open. The representative is required to both notify creditors directly and post a formal Notice to Creditors in a local newspaper at least once a week for two consecutive weeks so that anyone who is owed money has the chance to come forward.
After receiving notice, creditors have three months to file claims against the estate.
Taking Inventory
Before completing the probate process, the personal representative must determine the full net worth of the estate. The representative’s attorney will file the inventory of all assets with the probate court.
Paying Valid Debts
Next, the personal representative will need to pay all valid debts from the estate account of the deceased. If the representative receives any claims they don’t believe to be valid, they can contest them with the probate court.
Furthermore, any claims received more than three months after the notification period can be annulled by the court.
Paying Taxes for the Estate
The majority of estates are not large enough to be subjected to federal estate taxes. However, if the estate is above the federal limit, an estate tax return will need to be filed and paid.
Additionally, the personal representative will need to file a personal tax return and pay all taxes for the deceased for their final year.
Distributing Assets
Once all debts and taxes have been paid, all the property that remains is ready to be distributed to the beneficiaries of the deceased according to their will or, in the absence of a will, Florida state law.
Any property owned by the deceased that is not monetary and for which no provision has been made in the will must be sold so the proceeds can be distributed.
Closing the Estate
Once all assets have been distributed, the personal representative will need to petition the probate court to be released from their position and close the estate, which brings a formal end to the probate process.
Contested Wills and Removing Personal Representatives
Unfortunately, the probate process doesn’t always go smoothly. If an interested party does not agree with the wishes put forth in the will and has valid legal grounds to do so, they may contest the will.
Even if the court ultimately rules against the party contesting the will, this can add significant time to the probate process.
If the court rules that the current version of the will is invalid, it will decide how to remedy the situation, and the personal representative will be given new instructions for handling the estate.
Another wrinkle in the probate process can come if an heir or beneficiary believes the personal representative is not fulfilling their duties and moves to have them removed.
If the court believes the request has merit, it may replace the representative or appoint an attorney ad litem to help the representative properly administer the estate.
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Hire an Experienced Lawyer to Help With the Probate Process
When faced with the probate process following the death of a loved one, hiring an experienced probate and trust administration lawyer can help to greatly simplify the process. At The Siegel Law Group, P.A., we have been helping clients deal with probate for over 20 years.
Contact us by phone or online today to schedule a free consultation with a member of our legal team.
Call or text 561-955-8515 or complete a Free Case Evaluation form