Probate is a court process that transfers assets owned by a deceased person to the beneficiaries named in their Will.
Probate is required even when a decedent has a valid Will. When someone dies with a Will, a probate judge must “admit the Will” to probate by finding that the will is valid. If the decedent died without a Will, otherwise known as “intestate”, the probate will proceed and assets will be distributed to the next of kin.
If a decedent had a valid Will, that document nominates who will be the “Personal Representative.” The Personal Representative must be represented by an Attorney and is responsible for overseeing the probate process and distributing the assets to the beneficiaries.
There are two types of probate administration in Florida, formal administration and summary administration. Summary administration is a simpler process, while formal administration is required for certain estates that need the services of a personal representative or are too large for summary administration.
When the beneficiaries or heirs of the decedent’s estate are identified and the correct probate documents are submitted to the court, the judge will sign orders allowing the estate assets to be transferred. Prior to property being distributed, the probate judge must be satisfied that all interested parties have received proper notice, that eligible estate creditors have been paid, and that any disputes among the beneficiaries are resolved.
There are many ways to transfer your assets to your beneficiaries and also AVOID PROBATE. Avoiding probate will save your beneficiaries time and money.
Contact the Law Offices of Debra G. Simms to learn how you can avoid probate.