Probate is the branch of law that deals with the process of passing assets from one individual to his or her loved ones through estate planning.
At our firm, Mrs. Samantha Shealy Rauba handles estates through three types of administration:
Probate Attorney in Ocala, FL
Each type of estate administration has a unique process. Not all estates qualify for each type of administration.
Formal Administration Probate
With formal administration, the designated representative for the estate files the probate petition with the circuit court. Once he or she has submitted the necessary paperwork to the court, the court issues a document known as the Letters of Administration. This document gives the estate representative the authority to distribute the property included in the estate to the beneficiaries listed. The court supervises the representative as he or she does this. Once all property has been distributed, the representative files evidence to the court to prove that the process is finished and the court closes this estate. This process can take up to one year to complete.
Summary Administration Probate
This type of administration is a simplified form of the formal administration process. With this type, the Petitioner files a Petition for Summary Administration with the court. The court does not grant an individual the right to administer the estate. Instead, it simply releases the property to the beneficiaries of the estate.
This type of administration is available in cases where the value of the property that is eligible for probate is $75,000 or less or the death occurred two or more years prior to the filing of the petition for probate.
Ancillary Administration Probate
If an individual who was not a Florida resident dies and leaves property in Florida, this property may be administered using ancillary administration. The personal representative may be issued Ancillary Letters of Administration, which allows him or her to administer these properties to their intended recipients.
The Florida Probate Process
Probate also refers to the court process of settling an individual's estate. There are many cases where this is necessary. In Florida, any individual who has possession of a loved one's will must file it with the local circuit court within ten days of learning of the individual's death. The court then determines if a probate proceeding is necessary and if so, whether the will is valid or not.
Have A Question Regarding Probate?
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Not all assets go through the probate process. Assets held in living trusts, assets held jointly with another individual, and assets that have a designated beneficiary can all be transferred to their new owners without having to go through probate.
Our Probate Attorneys Can Help
Probate can be a confusing topic. We can help you understand it better and determine how your assets may be divided through the probate process. Mrs. Rauba is an experienced probate attorney who can guide you through the process of dividing your estate among your heirs. Contact Schatt Hesser McGraw to schedule your legal consultation with our firm and begin working on your estate with Mrs. Rauba.