The term "probate" basically refers to the process of managing and establishing assets, claims, debts, expenses, taxes and loan procedures of a deceased person. After clearing out the debts, taxes and expenses, the leftover credits and assets are distributed among the beneficiaries. However, proper procedure is followed in order to claim the position of rightful heir. Each state follows a defined set of Probate laws.
In this article, we shall discuss about Florida Probate laws. As per the provisions mentioned in Florida Probate laws, the entire process of probate comes under summary administration (where you don't require a lawyer) and formal administration (where the presence of a seasoned lawyer is quite necessary). It is necessary to learn about the processes. So Both the Probate administration processes have been mentioned below:
Formal Administration:
You require a qualified Florida probate lawyer for this process. It takes place in a surrogate court where all the parties are represented by legal counsel before the judge. Nevertheless there are certain restrictions like:
* The cost of the property should be above $75,000.
* The person concerned has passed away at least two years back.
* The deceased had requested for Formal Administration in his or her Will.
Summary Administration:
This process doesn't require you to hire a Florida probate lawyer. The interested person just has to fill out his forms and present the original documents in front of the court. The following conditions should be fulfilled for this purpose:
* It has been more than 2 years since the deceased has died.
* The total cost of the property is less that, equal to $75,000.
However, even though your case might qualify for summary administration still the court asks you to choose formal administration. So it would be better if you hire a skilled probate attorney to deal with the situation. In short, it is quite difficult for any normal person to understand the complications of Probate laws hence it would be better if you look for professional advice.
A disadvantage associated with this legal process is that you'll have to waste lots of money and time in dealing with the court proceedings. Sometimes, this can leave the heir bankrupt. Moreover, Probate laws state that if your assets are funded in some revocable trust then all the property automatically passes to the mentioned beneficiaries without undergoing any verification process in the courts and the entire process is kept very confidential.
Welcome to Florida Probate Lawyer Firm - The Law Office Of Adrian Philip Thomas, offers a wide range of quality legal services, Probate Administration involving the post death administration and transfer of assets according to a person's Last Will.
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