Where’s Mom’s Money? Palm Beach Probate Questions Which Family Wants Answers To

Did you just lose a loved one who was worth a few million dollars but now you are wondering:  Where’s Mom’s Money?  Legal analysts and probate litigators West Palm Beach get asked that question all time.   Dad or mother were worth a few Million Dollars and have now died in Delray Beach, …..and now theprobate is beginning and you are told that mother or father’s probate estate is worth a lot lessthan you ever imagined.  Where did the money go and how can you get it into the estate?

Why Isn’t there More Money in the Palm Beach Probate?

• Did mom or dad retire to Florida?
• While you lived hundreds of miles away from your mother or father, maybe mom or dad re-married and now you have a step parent to deal with, in the estate…
• How do you deal with the step mother or step father in the estate proceedings or probate?
• Maybe the last spouse, husband or wife, signed a Florida prenuptial agreement and they don’t inherit anything….Ok……. but …..
• You still want to know :  where did all of mother’s money or father’s money go? 
• Why isn’t there more money in the Palm Beach estate?
• What did mother or father spend all their money on in the last 3 years of their lives?
• Or……….did someone take your parents’ money?

How Much Was Mom or Dad Worth: compared to the estate accounting

• Probate lawyers Palm Beach Gardens usually file a Florida estate inventory which isconfidential
• The estate inventory only gives you a “snapshot” or best initial guess of what the probate is worth
• You didn’t know all about every detail of your parent’s money, and finances, but since they moved to Palm Beach County, you KNEW that mom or dad had a few Million Dollars
• A $500,000 Florida homestead residence in a country club or a small gated community
• A brokerage account worth $1 Million
• A retirement account worth $800,000
• Cars, checking accounts, savings accounts, maybe an
• Annuity or life insurance
• The probate lawyer Boca Raton is telling you , or hinting, that the estate is not worth that much

How do I learn what happened to my parent’s wealth? Can I find out in the probate?

• Can you use the probate process in Palm Beach County to learn where your parent’s money went?
• Yes, but there are few important points to know:

Using the Probate Palm Beach To Find The Money

1. Florida probates permit you to conduct financial discovery: where did all the money go?
2. Make a decision whether the estate executor or Personal Representative will be doing the discovery or you, personally, as a family heir or beneficiary
3. Decide who is going to pay the Palm Beach probate litigators to handle the discovery
4. Have a Florida financial discovery strategy which is focussed, concise, precise and which is expected to get answers as quickly as possible
5. Expect opposition:  people, especially second and third spouses, or step mothers and step fathers don’t like you asking about money. Expect a fight.
6. Understand that you cannot go on a “fishing expedition” or engage in baseless discovery.  You can be sanctioned for frivilous litigation or discovery by the Palm Beach probate judge under the Florida Probate Rules and their right to put a stop to needless legal work.  Choose wisely.