Probate is a court-supervised process for identifying and gathering the assets of a deceased person (decedent), paying the decedent’s debts, and distributing the decedent’s assets to his or her beneficiaries. The Florida Probate Code is found in Chapters 731 through 735 of the Florida Statutes, and the rules governing Florida probate proceedings are found in the Florida Probate Rules, Part I and Part II
(Rules 5.010-5.530).

There are two types of probate administration under Florida law: formal administration and summary administration. There is also a non-court supervised administration proceeding called “Disposition of Personal Property Without Administration.” This type of administration only applies in limited circumstances. Probate administration only applies to probate assets. Probate assets are those assets that the decedent owned in his or her sole name at death, or that were owned by the decedent and one or more co-owners and lacked a provision for automatic succession of ownership at death.

Probate assets include, but are not limited to, the following:

• A bank account or investment account in the sole name of a decedent.
• A life insurance policy, annuity contract, or individual retirement account payable to the decedent’s estate.
• Real estate titled in the sole name of the decedent, or in the name of the decedent and another person as tenants in common, is a probate asset.

Probate is necessary to pass ownership of the decedent’s probate assets to the decedent’s beneficiaries. Probate is also necessary to complete the decedent’s financial affairs after his or her death.

Probate proceedings are filed with the clerk of the circuit court, usually in the county in which the decedent lived at the time of his or her death. A filing fee is required. The clerk assigns a file number and maintains an ongoing record of all papers filed for the administration of the decedent’s probate estate. Creditors file claims with the clerk that are filed into the case.  Creditors with valid claims get paid from non-exempt probate property before beneficiaries receive inheritance.

Diana Mangsen focuses her practice as an elder law attorney in Clearwater, Palm Harbor, Largo, Dunedin and the Tampa Bay area.

For more information, visit our website at
https://www.mangsenlaw.com/
or call (727) 888-6282.