Picture this: while it’s not exactly pleasant to think about, say your grandmother has just passed away. In her last will and testament, she named you as a executor or personal representative. This is an individual who is responsible for a process called probate administration: someone chosen by the deceased to carry out instructions for handling their estate. As the representative, you are now responsible for seeing that your grandma’s final wishes are honored by the state of Florida.
This is a big responsibility, and an honorary one: it means you are someone your grandmother trusted a good deal to be selected for such an important task. Read on to learn more about what probate administration is, and what to expect during the process.
Types Of Probate Administration
There are 3 main types of probate administration in Florida:
- Formal Administration: For uncontested estates, this process is most common: a personal representative is appointed, with a mandatory creditor claim period of 90 days.
- Summary estates: If the decedent passed away more than two years ago, the process of administering a smaller estate can take up to 3 months.
- Complex estates: Also called contested estates, the administration process takes the longest and is complex due to business interests, tax disputes, and possibly litigation.
The Role Of A Representative In Probate Administration
From start to finish, a representative is responsible for completing the following steps:
Opening The Estate
Regardless of whether someone had a will, or died without a will (Intestate), probate must be filed with the court of the county in which the decedent lived. Until liabilities are paid and assets are distributed, the estate is considered “open.”
In Florida, it’s required to file a Petition for Administration in the county where the deceased lived. This requires use of the death certificate, the original will, if any, and an oath to administer the estate lawfully.
From there, opening an estate involves:
- Depositing the will: Within ten days of death, the representative must file the original copy of the will with a clerk of court.
- Paying filing fees: A court fee is involved when submitting the relevant documents to the clerk.
- Acquiring letters of administration: A judge will review the submitted paperwork and issueletters of administration, which officially grants the representative the necessary authority to begin managing the estate.
Notifying Creditors And Beneficiaries
A formal notice in a local newspaper is then required in order to allow the filing of any claims against the estate.
Inventorying Assets
Within 60 days of receiving the letter of administration, the representative must file and verify an inventory of the probate assets.
This includes the following:
- Any bank or brokerage accounts in the decedent’s name that are payable or transferable after death;
- Properties owned by the decedent;
- Vehicles, valuable jewelry, art, furniture, and other personal items of value;
- Any stocks, business partnerships, or LLC interests.
Settling Debts And Taxes
Should there be any debts or taxes to settle on the estate, probate representatives must resolve them in order of importance before any assets can be distributed to beneficiaries. This requires filing final federal tax returns on the decedent’s behalf. These taxes must be paid before the estate can be closed, or personal liability will fall to the representative.
Distributing What Remains
Once all creditor claims and taxes are paid, it’s time to distribute the remains of the estate.
This involves the following steps:
- Using the estate funds to pay for funeral costs;
- Filing a petition for discharge of the assets, along with a plan for distributing them;
- Distributing assets to the beneficiaries according to the will, once the final accounting is approved by the court;
- Closing the estate after the property is distributed and the necessary receipts have been obtained.
How Long Does Probate Administration Take In Florida?
Probate administration takes far less time when the decedent makes their wishes for their possessions clear in their will. Typically, the entire process can take 6 to 12 months. Contested estates can take up to three years.
Probate Administration In Coral Springs
Understandably, a lot happens when a loved one passes away. There are many difficult emotions to process before even touching the legal aspects regarding personal property. Probate administration is probably the last thing on anyone’s mind during this time of grief.
That’s where the law offices of Handin Law can help. With decades of experience, our legal team is composed of knowledgeable legal professionals who can walk you through the process step by step so it feels less daunting. A seasoned probate attorney can make sure that all the steps are done properly to decrease the chance of unexpected hurdles along the way. While many tasks these days can be accomplished with AI, a complex process such as probate is best done with human attorneys.
Don’t navigate probate alone; let a Coral Springs probate attorney help. If you have recently been named a probate representative for someone’s estate who lived in South Florida, let Handin Law answer your questions and guide you. Schedule a consultation today by calling 954-796-9600.