Estate Administration, Estate Litigation, Basic Estate Administration
What does estate administration mean for Florida beneficiaries? Well, we often think of it as Florida probate. It’s the court filed proceeding for the administration of someone’s estate. Somebody’s passed away in Florida. We need to gather their assets, pay their debts, pay their final income taxes, and then take their money and their property for the benefit of their beneficiaries and get it in those hands. That’s basic Florida estate administration.
You’re going to work closely with the trustee of your Florida revocable trust. You also have to know what creditors are out there, because they get paid first. Also, whether there’s going to be any estate litigation can absolutely affect whether you receive an inheritance or not.