Probate & Trust Administration in North Palm Beach, FL

Probate Administration

Probate Court is where a Last Will and Testament is filed after a person passes away (the decedent) for safekeeping and as a matter of record. The court oversees the process where the decedent’s assets are gathered, debts are paid off and the remaining assets are distributed to the designated beneficiaries. It is important to note that if all the assets are owned by a living person via beneficiary designation, title or deed, there would be no need to “probate” a Will. If a person dies without a will (called intestate) the assets are distributed to the heirs based upon Florida law. Depending on the decedent’s estate and circumstances, there are different types of administration: Summary Administration; Formal Administration; Ancillary Administration; and Disposition Without Administration. In most cases you will need a lawyer to assist you with navigating through the Probate Court. If you have questions about this process, please contact us for a no obligation, complimentary consultation.

Trust Administration

While a comprehensive estate plan may save you from the probate process, you will still have to facilitate the will and trust administration. Even when there is a detailed plan to follow, there are many things to monitor and take care of. When the creator of a trust dies, the trustee has certain duties to carry out, including the collection and management of the trust assets, the resolution of debts and claims, and the filing of the necessary individual and fiduciary income tax reports and federal estate tax return if one is required. At Buist Law, our experienced attorneys can assist a trustee in understanding and carrying out his or her duties and responsibilities in administering a trust in accordance with Florida Law.

Frequently Asked Questions

What is Probate and will my estate need “to be probated?”

A decedent’s probate estate refers to all of the decedent’s assets that require probate, which is the court-supervised direction and distribution of a decedent’s solely held assets. Here is a rule of thumb, if an asset is in the decedent’s name alone and is not payable to anyone else (ex., transfer on death account, names a beneficiary, payable on death), then that asset will need a court probate process to distribute to the beneficiaries of decedent’s estate. The probate estate may be only part of the decedent’s whole estate.

For example, a decedent was worth $1,000,000 at the time of death; $300,000 was in a living trust, $150,000 was jointly-owned, and a piece of real estate worth $450,000 was in his sole name and had a $100,000 life insurance policy naming his children as beneficiaries. The decedent’s “gross estate” would be $1,000,000, but his “probate estate” would only be $450,000; as the trust would be governed by the decedent’s Trust the $150,00 jointly owned asset would transfer directly to the other owner and the life insurance would be paid out to the beneficiary.

What are Probate Assets?

A Probate Administration only applies to “probate assets”. These assets are ones that the decedent owned at the time of their death in his or her sole name, or were owned by one or more co-owners without a provision for automatic transfer of ownership at death. Thus most assets with “beneficiary” designations are not considered probate assets and transfer to beneficiaries outside of probate court.

What happens if the decedent does not have a Will?

If the decedent passes away without a valid will then he or she is considered to have died “intestate”. In such a situation the court will look to the intestacy statutes to determine who the “heirs at law” of the intestate estate are. These “heirs at law” are the beneficiaries of the estate and will receive the estate assets.

What is a Personal Representative?

The Personal Representative is the individual who is appointed to be in charge of the administration of the decedent’s estate. In many other states this individual is known as an executor or an executrix. The Personal Representative has an important job, and if they mismanage the probate estate they may be held liable to the beneficiaries for damages incurred.

Who can be a Personal Representative?

The Personal Representative can be anyone who is a legal resident of the State of Florida. Individuals who are not residents of Florida can act as Personal Representative if they are a legally adopted child or adoptive parent of the decedent, the spouse of the decedent, or related to the decedent by blood.

Who may not be a Personal Representative?

An individual is not qualified to act as Personal Representative if they have been convicted of a felony, is mentally or physically unable to perform the duties required, or is under the age of 18.

Are there any alternatives to a formal administration?

There are several alternatives to a formal Probate Administrations that are allowed in the state of Florida.

A Summary Administration is available if the value of the probate estate is less than $75,000, and if the decedent’s debts are paid, or creditors do not object. The proceedings are significantly shorter, no personal representative is appointed, and there is less work to be done providing a significant savings to the estate.

Another form of alternative administration is a Disposition without Administration. This is available if there is no real estate in the estate and if the total probate assets do not exceed the total of the funeral expenses and the amount of all reasonable and necessary medical and hospital expenses incurred within sixty (60) days of the decedent’s final illness. If you meet these qualifications you are not required to go through the probate process.

How long does Probate take?

The answer to this question varies depending on the specific circumstances that surround your probate administration. However, it is reasonable to expect that a simple probate estate will take approximately six to eight months to properly handle your estate.

What if the Decedent owns property in multiple states?

If the Decedent owns property in multiple states, then the state where they are domiciled is where the formal administration will be opened. Property in other states will require the Personal Representative to file an ancillary probate in the state where the real property resides.