Heirs and beneficiaries of a Florida estate sometimes ask if they need to be represented by legal counsel through theprobate process in Florida.
The answer usually depends on two factors: 1. Who is asking the question; and 2. What is the value of the portion of the estate that is subject to claims by creditors?
- The reason we say “who is asking the question”, is because, in Florida estate administration, every heir or beneficiary does not need an attorney.
- Only the personal representative, or executor, of the estate must have legal counsel.
- And it also matters how much the estate is worth.
- If the portion of the estate that is subject to claims by creditors is valued over $75,000, then that is called “Formal Administration“, and a Florida probate attorney is required by the Florida Probate Code.
- If the value is $75,000 or below, than that can be processed through “Summary Administration” and a Florida probate attorney would not be required, but is usually still recommended, if only for consultation.
So , how does summary administration work in Florida probate courts?
- Like a formal administration, a Florida summary administration starts with filing a petitionin court.
- The petition for summary administration may be filed by any beneficiary or the personal representative.
- The Florida Probate Code requires that the petition include facts showing that the estate is eligible for summary administration, a list of estate’s assets and their values, a list and valuation of the estate’s debt, and a plan for distributing the assets.
- Once the Florida probate court receives the petition and is satisfied that the estate qualifies, the court issues an order distributing the assets.
Palm Beach probate attorneys and Aventura estate administration attorneys know that sometimes summary administration can be a quick and easy alternative to the formal administration process. However, it must be used with caution. The beneficiaries who receive the estate assets in a summary administration generally remain liable for creditor claims for two years after the decedent’s death.
See http://www.pankauskilawfirm.com/ for videos and information on Wills in Florida, Florida Trust Law, Estate Planning, and Estate Administration in Florida.