If you have recently lost a family member, you are presumably riddled with questions. Amidst your grief, you are probably confused about the legal processes and how and when you can gain access to the possessions of your loved one. What assets have to go through probate? All of them or just some? What about assets that you and your family member owned jointly, such as your home?
In the state of Florida, not all assets have to pass through probate, and the lawyers of Elder Law, P.A. have the estate planning legal experience to tell you which of your loved one’s possessions can be passed directly to you or another beneficiary. Read on to learn more about probate in Florida and your rights regarding the assets of your deceased loved one.
Probate: An Overview
Probate is the legal process by which the will is submitted to the court and the contents therein distributed. In Florida, there are two types of probate administration :
Sometimes people have a tendency to think that having a last will and testament is enough to avoid probate in Florida, but this is just a myth. In fact, the probate process is necessary to ensure that the will can be validated and the contents distributed accurately and fairly.
Perhaps you’re thinking that if you don’t have a will, in that case, you can avoid probate. Not so. If you do not leave behind a will, your estate will still have to go through probate, the difference being that the court will decide how your assets are to be distributed.
So what possessions do and do not have to go through probate? It should be noted that if you are worried about your own assets going through probate and want to ease the process for your family, the best thing you can do is establish trusts in their names. If items you wish to bequeath are placed in trusts, you can control how and when they are administered, and they will be exempt from probate.
However, if you are looking for information on the assets your loved one left behind and whether or not they have to be submitted to probate, you can read on for a detailed overview.
Assets Exempt From Probate
Perhaps you are worried that the probate process, which includes the payment of debts, might mean that you lose something important, like your home or an account that you owned jointly with your loved one. Luckily, Florida law provides for exemptions to probate, which include:
To reiterate, any items placed in a trust do not have to go through probate. Though this is a general overview of items that are exempt from probate, you might still have questions about particular assets belonging to your family member. In order to learn specific information on the assets in question, it is best to speak to a probate lawyer such as the ones at Elder Law, P.A.
Items That Have To Go Through Probate
Now that you understand the assets that are exempt from probate, here is a quick rundown of assets that are required to go through probate. These items include:
Most other personal property will also have to go through probate. These items are simply among the most common, so it’s best to seek legal help if you have questions pertaining to specific possessions.
Elder Law, P.A. Can Help You With All Your Probate Questions
At Elder Law, P.A., we understand that you are going through a hard period in your life and have many questions related to the probate process. If you are the executor of the estate or a beneficiary, you can use the help of our experienced probate lawyer in order to understand the intricacies of the process, avoid pitfalls, and eliminate the possibility of litigation. You can contact us to schedule a free initial consultation and we will go over some of the steps that we can take to help you through the probate process.
