7 FAQs About Probate In Florida
Losing a loved one is never easy. There is often an overwhelming feeling of grief and you may not have even started to think about probating your loved one’s property. You may not know where to start, what the process entails, or how you will get your questions answered. Below, our Daytona Beach estate administration attorney outlines the answers to seven of the questions we most frequently hear.
What is Probate?
Probate is a court-supervised process that administers a person’s estate upon their death. There are many steps in the probate process and they are as follows:
- Identify and collect the property of the deceased
- Notify all interested parties of the death
- Pay the deceased’s debts, including medical and funeral expenses, from the property within the estate
- Distribute any remaining property to the beneficiaries according to the will or state law
What Assets are Subject to Probate?
Not all property owned by someone is subject to probate. Co-owned property, such as bank accounts, automatically pass to the surviving owner and is not subject to probate. Life insurance policies and other financial accounts that name a beneficiary are also not subject to the probate process. Instead, these will transfer automatically to the beneficiary.
Is Probate Necessary if There is a Will?
It is a common misconception that when a person has written a will during their lifetime, probate is not necessary. In fact, one of the first steps in probate is to prove, or validate, the will. A judge will confirm that the will is valid and officially appoint the personal representative named in the will to administer the estate.
What Happens if There is No Will?
Without a valid will, a probate judge will appoint a personal representative. The property within the estate will be distributed among the decedent’s heirs according to Florida’s intestate laws.
How Long Does Probate Take?
Most estates must go through formal administration, which is the type of probate most people first think of when considering the legal process. This process can take between six and twelve months. Summary administration is an expedited process that is only applicable to estates valued at less than $75,000 or if the decedent passed away more than two years ago. Summary administration is much faster and can be completed in typically one to three months.
What is Homestead Property?
A person’s primary residence in Florida generally passes directly to their heirs outside of the probate process. Still, a court order is usually still required to formally transfer the title of the home.
Do I Need an Estate Administration Attorney in Daytona Beach?
Whether you are about to go through the probate process or you want to plan for your own estate, it is important to work with a Daytona Beach estate administration attorney. At Bundza & Rodriguez, our experienced attorney can answer all of your questions to ensure you have the answers you need to make informed decisions. Call us now at 386-252-5170 or contact us online to schedule a consultation and to get the legal help you need.
Source:
leg.state.fl.us/statutes
