Jacksonville Probate and Estate Planning Lawyers
Probate
The loss of a loved one is a time filled with sorrow and grief. When a
death takes place you may experience a wide range of emotions, even when
a death is expected, but rarely are you prepared for the avalanche of
legal questions and problems that inevitably follow. Florida probate administration
is a specialized practice area involving the post-death administration
and transfer of assets and payment of debts according to a person’s
Will or under Florida law in the event that there was no Will. Our firm
has the knowledge and experience to guide you through the entire probate process.
1. What is Probate?
Probate is a court-supervised process for identifying and gathering the
assets of the decedent, paying the decedent’s debts, and distributing
the decedent’s assets to beneficiaries. The most common types of
probate in Florida are formal administration and summary administration.
A knowledgeable lawyer will advise you as to which form of administration
is required based on the individual circumstances involved. In spite of
the rumors that most of us have heard, the State does not “take”
your property if you don’t have a Will except in extremely rare
cases. Instead, State law makes a determination for you, based on what
is generally accepted in our society as the standard Will, of who will
take from the estate.
2. How long does probate take?
Each case is different, and some probate administrations can take longer
that others. For example, the personal representative may need to sell
real estate or resolve a disputed claim filed by a creditor before the
settling the estate. Those situations would tend to lengthen the time
for administration. It is reasonable to expect that a simple probate estate
will take about five or six months to properly administer. This does not
mean that all of the assets of the estate will be tied up for that length
of time, however. In most cases it is possible to transfer homestead real
property, vehicles, furniture and furnishings and make partial distributions
earlier in the administration.
3. What are Probate Assets?
Generally, probate assets are those assets in the decedent’s name
alone at the time of death and which contain no provision for automatic
succession of ownership at death such as a named beneficiary or “payable
on death” beneficiary.
For example: A bank account in the decedent’s name alone is a probate asset,
but a bank account held jointly with another person, or an account with
a named beneficiary is not a probate asset if those persons are living
at the time of decedent’s death.
A life insurance policy, annuity or IRA that is payable to a specific
beneficiary is not a probate asset if that persons is alive at the time
of decedent’s death, but a policy payable to decedent’s estate
is a probate asset.
Real estate titled in the decedent’s name alone or as a tenant in
common with another person is a probate asset unless it is homestead real
property, but real estate held as tenants by the entirety or joint tenants
with right of survivorship is not a probate asset.
4. Can You Avoid Probate?
With careful estate planning by an experienced lawyer, there are often
things that you can do now which may mean that your estate doesn’t
have to go through probate later. Depending on individual circumstances,
property can be re-titled, put into a trust, or have beneficiaries added.
Florida laws regarding probate are complex. You need an attorney with
the knowledge and experience with probate necessary to properly administer
the estate. Our firm has over 45 years of combined legal experience guiding
grieving family members through the probate process and we will help make
this as stress-free as possible for you.