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Dedicated Florida Probate Attorneys
The term “probate” is derived from the Latin word probare, which means to test or to judge. During the probate process, the court determines whether a will is legally valid. When assisting in the probate of a will, our office inventories your assets, assesses valid debts owed by your estate and distributes the remaining assets to the beneficiaries. Florida probate law dictates what assets may go through probate. Effective estate planning can help ensure that assets pass efficiently to your heirs or the beneficiaries named in your will.
Probate is intended to be a streamlined process; however, there are many situations where confusion and controversy arise. Let the experienced and compassionate attorneys at Reed Law assist you throughout the probate process.
To learn more or discuss your situation, call us at 850-904-0883 or contact us online.
When Is Probate Required In Florida?
Probate is generally required in Florida whenever the deceased owned assets solely in their name, such as real estate, valuables and bank accounts. However, there are a few instances when probate is not necessary.
A trust allows assets to be distributed directly to beneficiaries without probate. Without a trust, probate typically cannot be avoided. Alternatively, if the value of the deceased’s estate is worth less than Florida’s summary administration limit of $75,000 or the decedent passed more than two years ago, then a formal probate may be avoided via either Summary Administration or Disposition Without Administration.
Guide To The Florida Probate Process
Probate in Florida follows a structured legal process with the following steps:
- File a petition: Once the will and assets have been located, the probate process begins by filing a petition in Bay County Circuit Court for Panama City residents within 10 days of the testator’s death. A petition requests the court to open probate and officially appoint an executor as the personal representative of the estate.
- Management of the estate: The personal representative of the estate is then responsible for securing and managing the contents of the estate. This may include taking inventory and obtaining appraisals. They must notify creditors, pay debts, settle funeral expenses and file taxes before distributing any remaining assets to the estate’s beneficiaries.
- Closing the estate: Once the personal representative transfers the remaining assets to their new owners, they must file a final accounting with the court and a petition for discharge. If accepted, the court will then release the personal representative from their duties and close the estate.
The probate process can take anywhere from a few months to over a year to resolve. Our attorneys at Reed Law can help you every step of the way.
Reach Out To An Experienced Probate Attorney
If you recently suffered the loss of a loved one and want to learn how to start the probate process, then you can reach out to one of our experienced Panama City attorneys at Reed Law to learn how. Call us today at 850-904-0883 or contact us online.
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