Whether you are drafting your estate plans or grieving the recent passing of a loved one who has left behind an estate, it helps if you understand how different Florida’s probate process is different from other jurisdictions. Probate is necessary when someone dies and leaves behind a will or last testament.
Probate is necessary to regulate the administration of estates and assets. To make it easier and less time consuming, Florida’s probate system follows the Universal Probate Code (UPC). Here is a brief look at how the area’s probate system differs.
Most estates pass through probate when there are issues with disputes about assets, inheritances and heirs. The time it typically takes for an estate to make it through probate can lower its value and lead to additional administration challenges. Estates of testators who are two or more years deceased may also avoid a lengthy probate process if they meet the criteria.
Bypass probate completely
The UPC enables administrators of estates valued at $75,000 or less to avoid probate court. Some estates may qualify to forgo the probate process if the administration fees exceed the overall value of property or assets. To qualify, the estate administrator must file paperwork that includes an itemized accounting of all associated expenses, including funeral, long-term care and medical that are subject to reimbursement and certify that the estate does not include real estate.
The time it takes to finalize an estate varies greatly. However, it is not uncommon for some estates to take longer to finalize than others. Knowing how the probate process differs from other areas can help expedite the process for you and your loved ones.