SMALL ESTATES

ASK ABOUT SPECIAL RATES FOR OUT OF STATE CLIENTS

Summary Administration

If you recently lost a loved one, you may be interested in learning more about probate from a Forida probate  lawyer on the Treasure Coast. Probate is a court-supervised process for identifying and gathering a decedent’s assets, paying off the decedent’s debts, and distributing the remaining assets to the decedent’s beneficiaries. In Florida, usually the decedent’s assets are first used to pay the cost of the probate proceedings, then they are used to pay any outstanding debts and claims against the estate, and the remainder is distributed amongst the decedent’s beneficiaries.

There are two different types of probate administration in Florida: formal administration and summary administration. Probate administration specifically applies to probate assets. These are assets that the decedent owned in his or her sole name at the time of death, or they can be assets that were owned by the decedent and one or more co-owners, but lacked provisions for automatic succession upon death.

Probate assets can include any one or all of the following, and more.

  • Bank accounts in the sole name of the decedent
  • Life insurance policies, IRAs, or annuities payable to the decedent’s estate (not to a beneficiary)
  • Real estate titled in the sole name of the decedent

The personal representative is the individual named in the will, or it can be a bank, a trust company, an estate lawyer or another individual appointed by the judge who is in charge of the administration of the estate. The personal representative is responsible for administrating the probate estate according to Florida law.

FEEL FREE TO CONTACT US TODAY ABOUT SPECIAL RATES FOR OUT OF STATE CLIENTS

SUMMARY ADMINISTRATION (SMALL ESTATES)

Florida law allows for an abbreviated probate procedure called summary administration. Summary administration is only available if the probate assets (less property that is exempt from creditor claims) do not exceed $75,000, and if the decedent’s debts are paid, or if there are no objections from creditors. Generally, those who receive the estate assets in a summary administration remain liable for claims against the decedent for two years after the date of death. Summary administration also applies to situations where the decedent has been dead for over two years and there has not been a prior administration.

Need an estate lawyer on the Treasure Coast, Florida for a summary administration? If you would like to obtain additional information, please contact Florida probate lawyer Jon L Martin today. With convenient office locations in Port St Lucie and Palm City, we offer legal probate services in Jensen Beach, Hobe Sound, Port Salerno, Stuart, and the entire Treasure Coast.

We gladly offer free initial consultations to all prospective clients. Contact Probate Lawyer in Port St Lucie and Palm City today!
(772)419-0057.

Ask about discounted services.