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Probate administration is the process of settling a person’s estate after death and distributing the assets according to a decedent’s wishes. In Florida, the probate process is largely based on Florida Probate Rules and state law. Probate administration may be hard to navigate, especially for those appointed as personal representative(s) (or executor(s) and/or trustee(s) of an estate. It is important to hire experienced and knowledgeable probate attorney to help you with the probate process and minimize the headache of having to go through the process alone. During the probate process, a probate attorney can assist you in many ways including but not limited to: meeting filing deadlines, preparation of petitions, preparation of pleadings, preparation of waivers, negotiating creditor claims, resolving beneficiary disputes and/or preparation of other court documents.
Florida has two types of probate administration, formal probate administration and summary probate administration. Formal probate administration is necessary where assets of an estate exceed $75,000.00 (not including property exempt from the claims of creditors and homestead property). Summary probate administration is available where assets of an estate do not exceed $75,000.00. Summary probate administration is more ideal as it is a cost-effective, simpler and faster process that requires less interaction and/or supervision from the probate court.
Capital Planning Law, PLLC can also advise you on administering a trust if you are appointed as a trustee and are not sure what to do. Administering a trust could include: distributing assets to beneficiaries, creating sub-trusts for beneficiaries, terminating trust documents as well as on fiduciary duties.
Contact Capital Planning Law, PLLC for your complimentary consultation to discuss your business law and corporate transactions, estate planning, probate, guardianship and/or real estate needs.