Monthly Archives: September 2019
First and foremost, the Personal Representative is appointed to carry out formal administration of the decedent’s estate. The Personal Representative can be a person, bank or trust company whom is appointed by a probate judge. If you have been chosen to be the personal representative of a probate estate, it is important you understand your responsibilities.
In Florida, the Personal Representative of a probate estate is to collect the assets of the decedent and provide payments of valid creditor claims and tax liabilities. After the assets are collected and creditors paid, the Personal Representative makes distribution to beneficiaries of the estate either as stated in the decedent’s Will or Florida Intestacy statute discussed here.
It is important that the Personal Representative is represented by an experienced attorney. Improper administration by the Personal Representative could open them up to liability for any harm caused. If you have any questions, please Contact us for a free consultation.
We hear the term probate a lot, but what is probate? Probate or probate administration is a court supervised distribution of a decedent’s assets to their beneficiaries and payment of their debts to creditors. Typically probate distributes a decedent’s assets according to their Last Will and Testament. However, if no Will existed at the time of death, their assets will pass by way of Florida’s Intestacy Statute discussed in our post on“Why Should I Have A Will”.
Not all of a decedent’s assets must past through probate to be distributed. Only probate assets must pass through probate. Probate assets are those who were owned solely by the decedent, such as bank accounts without a beneficiary named or real estate titled in the name of the decedent only.
If a loved one has passed away with assets, it is important to contact an experienced probate attorney to assist you in opening and navigating though probate. Please contact us at any time for a free case evaluation.
A Will is a very important and powerful legal document which dictates what happens to your property after you pass away. The property you own at death is called your estate. Without a will, your estate will be distributed to your heirs, according to Florida Statutes Chapter 732.
There is a misconception that when you die without a will, the state or government automatically receives your property. This is not necessarily true. However, this could become the case if there are absolutely no heirs to take your property. If you have property that you wish certain people to receive upon your death, such as wife, children, family, or friends, it is important to have a Will.
If you do decide to create a Will, it is important to have the help of an estate planning attorney. If a Will is improperly executed, it might not be accepted by the court and your estate would be distributed as if you did not have a one.