Tampa Probate Attorney

Probate is the court-supervised process of collecting a decedent’s assets, identifying beneficiaries and creditors and distributing those assets to the decedent’s beneficiaries after payment of the cost of probate and any of the decedent’s outstanding debts.  A Probate can be either “Testate” (with a valid Will) or “Intestate” (no Will).

There are two types of probate administration available in Florida:  Formal Administration and Summary Administration.  Formal Administration is the more complex type of administration and requires the appointment of a Personal Representative. The Personal Representative’s responsibilities include, but are not limited to:

• Identifying, gathering, valuing and safeguarding the probate assets;
• Serving notice of the probate administration on interested parties when required;
• Identifying and notifying creditors of the administration and paying all validly filed claims (from the estate’s assets);
• Preparing and filing the decedent’s final tax return and, if necessary, preparing and filing an  Estate tax return;
• Paying the expenses of administering the probate estate (from the estate’s assets); and,
• Distributing the probate assets to beneficiaries.

Formal Administration is required for all estates valued at more than $75,000,  and it may be preferable to a Summary proceeding in some instances.   A Formal Administration generally takes 6 months to complete but the actual time will vary depending on a variety of factors.
Summary Administration is an abbreviated proceeding that can, in some cases, be concluded in as little as 2 weeks (again, depending on a variety of factors). This type of administration is generally available only when the value of the estate subject to probate is $75,000 or less, and when all the decedent’s debts are paid.

The type of administration necessary will depend on the nature and value of the assets subject to the probate administration. Not all property will be subject to probate and will therefore not be included in the valuation of the probate estate. Let me help you evaluate your probate needs; call or email today.