If you’ve recently lost a loved one in Florida, you might be hearing the word “probate” a lot. Probate is the legal process that happens after someone dies to make sure their assets are collected, their debts are paid, and whatever is left is passed on to the rightful heirs or beneficiaries.
However, not all probate is equal. Florida has a few different types of probate, and which one you use depends on things such as the size of the estate, whether there are creditors, and how long it’s been since the decedent passed away.
Formal Administration
This is the “full” version of probate in Florida, and it’s usually required when:
- The non-exempt assets are worth more than $75,000, and
- The person passed away less than two years ago.
With formal administration, the court appoints a personal representative to manage the estate, which includes gathering the assets, notifying creditors, paying any bills or taxes, and distributing the remainder to beneficiaries or heirs.
The upside? You get full court oversight, which can be important for complicated estates or when there’s disagreement among heirs. The downside? It’s the most time-consuming and most expensive option, sometimes taking a year or more to complete.
Summary Administration
Think of summary administration as the simplified version of probate. Summary administration is possible if:
- The non-exempt assets are worth $75,000 or less, or
- The decedent has been gone for more than two years.
Rather than appointing a personal representative, the court issues an order that directly transfers assets to the heirs. As a result, summary administration is much quicker and less costly than formal administration.
Ancillary Administration
Ancillary administration comes into play when someone who lived in another state dies owning property in Florida.
For example, let’s say your aunt lived in New York but had a vacation home in St. Pete Beach. Even though her main probate case will happen in New York, Florida law requires a separate process here to deal with that Florida property. This ensures everything is handled according to Florida probate laws.
Need Help With Probate in Florida? Contact Vaughn Law
Contact Vaughn Law today to schedule a consultation. We’ll take the time to explain your options, guide you through the Florida probate process step by step, and handle the legal details so you can focus on what matters most.