Why is My Inheritance Still Not Here?!

Waiting on your inheritance can get frustrating. It seems like every other day the Personal Representative has another update or document for you to sign but where is the inheritance? Every state is different but here are some things to consider in a Florida estate administration.

While feeling impatient is normal a brief understanding of the probate process may be a good place to start. When a person dies (often called “the decedent”) in Florida what assets they have left are referred to as the estate. A decedent’s will leaves their estate to heirs and will name a personal representative to administer the will. In other jurisdictions these are referred to as “executor” or “estate administrator” sometimes. Some choose individuals to do this duty while others may charge a professional organization such as a bank or other company.

The Personal Representative has a unique duty called a fiduciary duty. Amongst other things the Representative will:

1.      Gathering all Florida assets of the decedent;
2.     Paying off relevant creditors;
3.     Paying off all relevant probate expenses; and
4.     Equitably distributing the assets to the heirs.

You are probably wondering what’s taking so long, right?  It sounds very simple.  Well, there is some final “book-keeping” which the personal representative wants to take care of. The personal representative of a Florida estate is entitled to be “discharged” or “released” from his or her service.   So, the personal representative, when he or she is ready to wind up and close the estate, usually by filing a petition with a Court. This requires some due diligence on their part and that takes time. Also it is important to remember that a Personal Representative rarely administers one will full time.

The petition is filed in a Florida probate court where the decedent’s estate is being administered or “probated.”

In South Florida there are five different probate courts a will may be probated in:

1. Miami,
2. Ft. Lauderdale,
3. Delray Beach,
4. West Palm Beach, and
5. Palm Beach Gardens.

The petition for discharge effectively notices the court and the beneficiaries, of what estate assets exist, how they will be distributed to the estate beneficiaries (this is called a “plan for distribution”) how much is being paid for attorneys fees and personal representative fees.  A petition of this kind will include a final accounting so that the Personal Representative can show his or her duties were performed properly.

Many times, a personal representative will ask the beneficiaries of a Florida estate to sign consent for discharge or a receipt and release. This document will release all of your rights to sue or contest the distribution at a later date. This is a critical document and an experienced probate administration attorney in Florida should review it.

A Personal Representative is entitled to closure by a Florida probate court, in other words when a judge says, in the form of an order or a judgment, that the personal representative served his or her fiduciary role properly and that they have no liability or further responsibility regarding the estate or the beneficiaries, that’s it.  Take this document seriously and understand that there are no mulligans here this is not golf.