Frequently Asked Questions About Probate In Florida
When dealing with probate in Florida, it is essential to understand how assets are managed, especially for people with substantial estates or non-residents owning property in the state. The probate process can be more complex than many expect.
Below are some of the most common questions that people have about the probate process here in Martin and St. Lucie counties:
What assets must pass through probate in Florida?
Probate assets include any property owned solely by the deceased and not designated to pass directly to a beneficiary. Typical examples are bank accounts, real estate and vehicles held solely in the deceased’s name.
On the other hand, assets that are jointly owned or have named beneficiaries (like life insurance policies and retirement accounts) usually bypass probate and go directly to the beneficiaries.
How long does the probate process usually take in Florida?
In Florida, it typically takes anywhere from six months to a year to settle the average estate. This includes ancillary probate proceedings, which are necessary when someone regularly domiciled in another state has certain probatable assets in Florida, such as a second home. When estates are large and complex, or there are disputes between beneficiaries and heirs, probate can go on for several years.
What are the steps in the probate process?
Generally, the probate process starts when a petition is filed with the probate court in the county where the decedent lived. The court will then typically affirm the validity of the will (if there is one) and appoint a personal representative (executor) to manage the estate. The personal representative will then:
- Secure and inventory the deceased’s assets
- Notify the deceased’s creditors and beneficiaries
- Pay the decedent’s final debts and taxes
- Distribute the remaining assets
- Do a final accounting and close the estate
Unfortunately, each of these stages has many steps, and there is a lot of potential for complications. Early attorney involvement reduces the chance of a critical error in the probate process.
Is probate avoidable in Florida?
Yes, probate can be avoided with proper planning and guidance from an attorney. One way to bypass probate is to create a living trust, which transfers assets directly to beneficiaries without going through the court process.
Another method is to set up payable-on-death (POD) or transfer-on-death (TOD) designations for bank accounts and securities. Additionally, jointly owned property with rights of survivorship will pass directly to the surviving owner without probate.
What is the difference between summary administration and formal administration in Florida?
Summary administration, per Section 735.201 of the Florida Statutes, is a simplified probate process that’s only available to smaller estates valued at $75,000 or less or estates of any size where the decedent has been deceased for more than two years.
Formal administration is the traditional probate process, and it involves more court oversight.
How different is the probate process for non-residents with property in Florida?
Non-residents who own property in Florida may still need to go through the probate process, even if they do not live there. This is known as “ancillary probate,” a separate proceeding specifically for handling property located in Florida.
The procedure is similar to regular probate but requires coordination with the primary probate case from the non-resident’s home state. Planning strategies, such as placing the Florida property in a living trust, can help non-residents avoid this process.
What should I do if I am an out-of-state relative and need to start the probate process in Florida?
An experienced Stuart Probate attorney can help you start the ancillary probate process, file the necessary paperwork with the local court within the proper time frame, take steps to secure the deceased’s assets and represent your interests in court.
What does a personal representative do in Florida probate proceedings?
The personal representative, sometimes called an executor, manages the probate process. They are tasked with gathering and inventorying assets, paying off debts, filing necessary tax returns and distributing the remaining assets to beneficiaries.
In Florida, the personal representative must be a Florida resident or a close relative, even if they live out of state.
Call To Speak With A Probate Lawyer
Whether you want to explore strategies to bypass probate altogether or need guidance through the probate process in Stuart, Florida, our experienced team is here to help. Call our offices at 772-732-8863 or contact us online for a free consultation to discuss your options.