Florida probate law
How Can Florida Probate Lawyers Protect Long-Term Legal Interests?!
Florida Probate Lawyers Protect Long-Term Legal Interests!
In legal parlance, “probate” is a collective reference to an array of procedures associated with executing the terms of a legally valid will. Like all legal proceedings, probate entails many technical facets and details. Such formalities are subscribed by law as being mandatory components of the legal probate machinery. Their overall purpose is intended to ensure the proper administration of the decedent’s estate plan.
Florida law requires probate proceedings in all situations wherein the deceased owned any type of asset(s). Probate provides a formalized judicial or quasi-judicial process for orderly asset assembly, debt settlement, and property title transfers to the decedent’s designated or legal heirs.
Historically, probate has often been touted as a tortuous ordeal to avoid at all costs. Prolonged waits for final estate resolution and additional administrative and court fees are the primary bases of this perspective. Legislators have largely eliminated these drawbacks within the Sunshine State, however.
For instance, asset inventories and similar financial data are no longer open to public scrutiny. Equally significant is that the entire process must now be completed within one year. More commonly, however, probate is concluded in less than six months.
Since its initial induction into the Union as official state in 1845, Florida’s legal code has contained numerous provisions that govern probate. Every aspect of the probate process is governed by the Florida Probate Code. This law is codified at Chapters 731 – 735 of state statutes.
The Florida Probate Code authorizes a trio of formats for probate administration. These include:
- Summary Administration
This alternative is usually available when the cumulative value of non-exempt assets do not exceed $75,000; or, the decedent’s death occurred more than two years prior to probate commencement.
- Formal Administration
As its title implies, this estate plan execution scheme takes its course via the judicial system much as lawsuits and other legal matters do. All appropriate forms and documents must be prepared and filed with the Circuit Court along with the required fee. The clerk then assigns a case number and opens a new court file to document and record all subsequent filings and in-court proceedings that pertain to the matter. This step is typically completed in the Florida county of the decedent’s primary residence when he or she were alive.
- No Administration
Non-Administration is an option only for estates comprised entirely of exempt real property and non-exempt personal property below a certain threshold level. The specific allowable maximums are: 1) $6,00 for burial costs; and, 2) all customary and essential medical or hospital expenses accrued during the last two months of the decedent’s final illness.
Former state law also authorized a specialized probate proceeding denoted as “Family Administration.” As of January 1, 2002, however, this option became obsolete – except for estate plans filed prior to that date. In such instances, proceedings may continue as Family Administrations until the case concludes.
A Florida probate attorney is the best source of the most accurate, recent legal provisions. Such a qualified legal professional possesses the necessary skills, training, and specialized knowledge to devise and execute a competent estate plan.
For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation. It’s a Wild world. Are you protected?