Moran & Associates is a probate law firm in Palm Beach, Florida that can help your family through the probate process. If you have recently lost a loved one, this might be one of the most challenging times for you and your family.
In addition to planning a funeral and dealing with grief, you may need to take your loved one’s will to court to undergo probate. And if your loved one left no will, you will also need to take the estate through probate under the laws of intestacy.
Probate is the process by which a deceased person’s will is authenticated, and the process by which a person’s assets are appraised, debts and final bills are paid, and assets are passed on to beneficiaries.
If your loved one recently passed away and you have been named executor of your loved one’s estate and have questions about the probate process, reach out to Moran & Associates. Our probate lawyers in Palm Beach, Florida are here for you. We can help you every step of the way.
Types of Probate in Florida
Every state has its unique probate process. In Florida, there are two main types of probate: formal administration and summary administration determined by the value of the property that needs to go through probate and the amount of time the decedent passed away. The probate process is started with a filing with the clerk of the circuit court. During the process, beneficiaries of the estate need to be identified, creditors need to be notified, debts need to be paid, taxes need to be paid, and assets need to be distributed to the beneficiaries.
Summary administration is another type of probate process. This process can often be faster than the regular probate process, or formal administration. Summary administration may be possible if the person died more than two years ago or if the person’s property value doesn’t exceed $75,000.
Formal administration is the process that is followed for all other types of estates. This process requires formal notifications, validation of the will, and plans for distributing assets and satisfying all debts. Each of these probate processes require that formal procedures be followed. If the deceased left no will, then probate will need to establish which assets the deceased left behind, determine which debts remain outstanding, and use Florida’s intestate laws to determine how assets will be distributed.
Probate is primarily designed to ensure that the estate’s debts are paid and that taxes are paid in an organized manner. Ultimately it is the executor’s responsibility to notify creditors that the deceased person has passed away. The probate process also gives creditors a chance to come forward and make claims upon the estate. Before the distribution of the estate’s property can occur, debts must be satisfied and taxes must be paid.
What are some of the responsibilities that the executor must perform during the probate process? According to the Florida Bar, these responsibilities include: publishing a notice to creditors in the newspaper informing creditors about the death so that they have time to file any claim on the estate as required by law, attempt to identify any creditors the estate might have using good faith efforts, and make objections to any illegal or improper claims made by persons seeking to pursue lawsuits against the estate. The executor is required to pay any valid claims, file tax returns, pay outstanding taxes due, and distribute assets to beneficiaries.
The probate process can sometimes be complex and overwhelming, especially for families going through one of the most challenging times in their lives. If you are struggling or overwhelmed, you don’t need to navigate the probate process alone. Moran & Associates is a probate law firm in Palm Beach, Florida that can assist you with navigating each step of the probate process.
Help with Probate in Palm Beach Florida
Do you need help with the probate process in Palm Beach, Florida? Has a loved one recently passed away and do you have questions about your rights and responsibilities when it comes to probate? Moran & Associates is a probate law firm in Palm Beach, Florida that can help you with the probate process.
Not all families need to go through probate. For example, if your loved one established a trust or if your loved one’s situation doesn’t require probate, your family may be able to avoid this process. If your loved one didn’t leave a will and you have questions about probate, Moran & Associates is a Palm Beach, Florida probate law firm that can help you every step of the way. Contact us today at 561-779-2029 to learn more.