Probate has a reputation for being a complex, costly, time-consuming, and emotionally draining process. Nonetheless, you may assume there is no way to evade this legal procedure if you wish to inherit your loved one’s leftover property and assets. However, you may be curious to learn that the state of Florida observes and accepts different methods than the standard, formal probate process, so long as extenuating circumstances allow for it. With that being said, please read on to discover the possible alternatives to the formal probate process and how a seasoned Broward County probate lawyer at The Probate Lawyers can help you explore these avenues.
What are acceptable alternatives to the formal probate process in Florida?
Of note, Florida probate law allows for the option of summary administration. If the court approves your petition, it may issue an Order of Summary Administration. Then, you may proceed to administer your loved one’s estate with little to no judicial oversight. As you may guess, though, the court does not grant this for just any estate.
Specifically, the estate’s value must be less than $75,000, excluding recognized exempt property like real estate. Also, your loved one’s outstanding debts and taxes must be paid off, or their creditor otherwise do not object to this petition. It is worth mentioning, though, that if you are a beneficiary of a summary administration estate, you may be held liable for claims made against your loved one for up to two years after their date of death.
As a side note, this alternative may also be available if your loved one sadly passed away more than two years ago, but a formal probate process and estate administration have yet to be conducted.
Otherwise, there is another process called disposition without administration. Similarly, this streamlines the transferring of assets without formal court supervision. This is an option if your loved one’s assets are solely exempt property. Or, if their non-exempt property’s value generally does not exceed $6,000. Or, if it is not more than the cost of their preferred funeral expenses and medical and hospital expenses from the last 60 days of their lifetime, if any.
What happens if my loved one’s estate must undergo formal probate?
If your loved one’s estate does not align with the eligibility criteria for a summary administration or disposition without administration, formal probate may be your only option. You should expect the following procedures at this time:
- You may file a petition for administration with the proper Florida circuit court.
- The court may appoint an executor to manage and administer your loved one’s estate.
- The executor may notify interested parties of the upcoming probate proceedings.
- The executor may pay off your loved one’s outstanding debts and taxes.
- The executor may distribute your loved one’s remaining assets accordingly.
In the end, if you are ready for the probate process, please retain the services of a competent Broward County probate lawyer. Our team at The Probate Lawyers awaits your phone call.
