Losing a loved one is never easy. Apart from all the emotional toll that it gives you and your other family members; you must also try to manage the legal aspects of your loved one’s passing — which includes probate.
Although this process might not be something that you are truly ready for, understanding how it works can make things a little easier to handle. In this blog, we will discuss what probate is and how your loved one’s estate will be administered at the Florida court.
What is probate?
After your loved one’s passing, the contents of their last will and testament will need to go through a formal authentication process. Administered by the Florida probate court, a judge will seek to assess the will’s validity and proceed to appoint your loved one’s personal representative or “executor” to officially begin their estate’s administration process.
In this stage, they will begin to work on the following:
- Manage your loved one’s funeral arrangements
- Contact your loved one’s list of beneficiaries
- Notify your loved one’s creditors
- Identify your loved one’s assets and estimated values
- Settle your loved one’s outstanding bills, debts, loans and taxes
- Distribute your loved one’s property to their beneficiaries
The probate process will come to an end after the executor finishes their duties and files for discharge. In this stage, the Florida court will issue an order that formally closes off your loved one’s estate.
Do all assets go through probate?
Not all property and assets go through probate. If your loved one has placed any assets in a living trust, those assets’ ownership titles will be transferred to their beneficiaries without the need of probate court.
Additionally, assets like retirement accounts, life insurance policies and real estate property with valid transfer-of-death deeds will also bypass probate. This is because these types of property already have designated beneficiaries.
It is okay to ask for help
If you feel overwhelmed with the unfamiliarity of your loved one’s probate process, seek guidance from legal counsel. With their help, they can assist your loved one’s executor in fulfilling their duties and ensuring that your loved one’s final wishes will be honored the right way.
