Probate versus Non-Probate Assets
PROBATE VERSUS NON-PROBATE ASSETS The decedent (deceased) will most likely have held assets that may or may not be subject to probate. Assets that may be Probated. Probate assets are those which the decedent individually owned including but not limited to personal property and business interests. More detailed examples of probate property include the following: Accounts: Bank accounts and securities in decedent’s name alone with no pay-on-death (POD) designation. Undeposited
What is Florida Probate, what types of Probate are there, and where should the Probate take place.
What is Florida Probate The legal process of Probate is when the court determines the validity of a will it has received so that a decedent’s estate (the belonging of the individual that has passed) can be administered. When the will is admitted to probate, a petition for administration is also filed. The court then appoints a representative to ascertain and manage the decedent’s property and assets that are subject to be probated, pay any outstanding decedent’s debts and d
Beginning an Ancillary Probate Proceeding in Florida
Venue for an Ancillary Probate Proceeding in Florida The venue for Florida ancillary probate proceedings is in any Florida county where either the decedent’s property is located or if there is no Florida property then where any debtor of the decedent resides. Beginning an Ancillary Probate Proceeding Requirements There are numerous requirements and steps that a petitioner for ancillary probate must take to open an ancillary probate proceeding in Florida. These include Filing
Ancillary Personal Representative Compensation
Florida statutes suggest presumptively reasonable personal representative commissions. This statutory schedule is not mandatory and may be adjusted by provisions in the will or by contract between the personal representative and the testator. This commission is based on a percentage of the Florida probate estate and the income earned on the probate assets during administration. A personal representative may petition the court to increase or decrease their compensation or as
Are you required to hire a Florida Attorney for an Ancillary Probate?
Florida Statute requires that an ancillary personal representative must be represented by an attorney admitted to practice in Florida unless the ancillary personal representative is either admitted to practice law in Florida and acting as the personal representative or is the sole interested person in the estate. The hiring of an attorney is an important decision and we encourage you along with all our clients to interview multiple attorneys and seek out the most qualified an
Rights and Responsibilities of Ancillary Personal Representatives
Personal representatives appointed in Ancillary Probates have the same rights, powers, and authority as all personal representatives in Florida to manage estates including but not limited to the ability to sell, lease, or mortgage local property and raise funds for the payment of debts, claims, and devises in the domiciliary jurisdiction. They still must pay close attention to Florida Statutes that bar or apply certain limitations on exercising these powers during a variety
Florida Wrongful Death Actions brought forth by the Personal Representative in another state
Wrongful Death Actions brought forth by the Personal Representative A frequent issue our firm deals with are Wrongful Death Actions brought forth by the Personal Representative when the decedent died in Florida. In this situation, as long as the foreign personal representative has received letters of administration in the US or any of its territories, they may initiate a wrongful death action in Florida courts without having to first be appointed personal representative of
Appointing an Ancillary Personal Representative - the Steps and Criteria
Under the Florida Probate Code, Florida law requires that, at the time of the decedent’s death, a personal representative be at least 18 years of age and in the majority of cases, A Florida resident. (§§ 733.302 and 733.304, Fla. Stat.) However, under certain occasions, a non-resident family members can act as personal representative (§ 733.304, Fla. Stat.). An out-of-state attorney drafting a will for a non-resident of Florida with assets in Florida must consider the identi
How are Safe-Deposit boxes located in Florida handled?
Section 655.936 of Florida Statutes provides the rule for the disposition of the contents of safe-deposit boxes upon death. A personal representative appointed by a Florida court is allowed to access any safe-deposit box held in the decedent's name and permitted to remote the contents so long as the proper procedures are followed for preparing an inventory of the contents of the safe-deposit box. In the case of a personal representative appointed by a court outside of Florida
Plan ahead to Avoid Ancillary Probate in Florida
There are methods to avoid having to go through an Ancillary Probate in Florida but it requires a lot of pre-planning that must take place before decendent's death. It is highly advisable to consult an attorney where you are domiciled before proceeding. For example, a non-Florida resident may make a lifetime transfer of Florida real property into a revocable trust. Generally these trust handle how the property is administered upon the decendent's death. Again, please seek
