When a loved one dies, you do not want to grapple over the legal ramifications of their estate. However, distributing the assets of your deceased family member, and addressing their creditors, is a process that needs to happen through a personal representative, or executor. You can make it easier on yourself by seeking out a probate lawyer who handles cases in Pinecrest and can answer your questions at every step of the process.
Learn more about probate, and gain peace of mind knowing that our local estate planning attorney is here to help you get through this difficult time.
After a loved one dies, unless they have placed all their assets in a trust, or have beneficiaries designated on certain assets, their estate typically needs to go through probate. If they had any debts, those debts need to be settled. Remaining assets need to be divided among family members or beneficiaries per the terms of the decedent’s Last Will and Testament, and if there is no Will then pursuant to Florida law.
Florida has two types of probate administration. Formal administration is for estates that are valued at $75,000 or more, while summary administration is a more streamlined process for estates valued below $75,000 or for someone who has been deceased more than two years.
For the more complicated probate cases dealing with high-net worth estates in Pinecrest or other parts of Florida, it is in your best interest to seek out an experienced probate lawyer.
When a loved one dies, their creditors need to be notified of the death so they can file claims for anything they are owed by the deceased person. Dealing with creditors is not an easy job for the personal representative of the estate. A probate attorney can assist an executor in Pinecrest, find out if each claim is valid, and if it is a debt that needs to be settled. Invalid or inflated claims may be disputed, and secured debts may need to be handled differently from unsecured debts. A probate lawyer has the skills and knowledge necessary to ensure debts are properly settled and remaining assets are protected.
Probate administration happens in probate court. In order to get there, a petition needs to be filed. Even if the deceased person had a Will, it must be presented to the court to ensure it is valid according to Florida state requirements.
The court will nominate a personal representative, of the estate, who is typically nominated through the Will. If it did not nominate a representative or there was no Will at all, then you and a probate lawyer could work together to determine who should be nominated as executor of the estate and have the person(s) appointed by the Court.
Probate also includes making an inventory of the assets in the estate, like bank accounts, investments, life insurance policies, real estate property deeds, vehicles, jewelry, intellectual property, and more. An inventory of outstanding debts must also be made.
Any remaining assets need to be distributed as the Will directs. If there was no Will, then intestate succession as dictated by Florida Law, determines who receives the assets. A probate attorney could help someone in Pinecrest with all the steps of probate, ending with a final accounting of the estate’s transactions and an official closing of the estate.
If you are a personal representative for an estate of a recently deceased person, do not hesitate to get legal assistance. Trying to navigate the probate system by yourself can be frustrating and may end up creating more problems than you know how to solve. If you are named executor for an estate in Pinecrest, call a probate lawyer at Veliz & Associates, P.A. to ensure all legal requirements are met.
We evaluate your case and determine how we might be able to help.
We will meet with you to discuss your next options and lay out a plan.
Our team guides you throughout the process so you feel confident about your choices.
(305) 250-9917