Probate Administration

For over 30 years, Raymond S. Grimm has been providing legal assistance to clients regarding probate matters. If you require legal counsel concerning probate administration, please do not hesitate to contact us today.

Understanding Formal Administration

Formal administration is typically required when the deceased has passed away within the last two years, died with one or more creditors, and the value of the probate estate exceeds $75,000.00. It is important to distinguish between the probate estate and the augmented estate. The probate estate includes assets that were solely owned by the deceased, such as: personal property without a certificate of title; a bank account in their name only with no joint tenant or beneficiary designation; a retirement account without a named beneficiary; or jointly owned property with another person as tenants in common.

In contrast, the augmented estate includes all assets in which the deceased had an ownership interest, regardless of whether there is a joint tenancy or beneficiary designation. Determining what is in the probate estate vs. the augmented estate is particularly relevant when determining a spouse’s elective share of the decedent’s augmented estate.

Understanding Summary Administration

Summary administration is used in cases where the total value of the probate estate in Florida is less than $75,000.00, or if the decedent has been deceased for more than 2 years. In summary administration, the proposed distribution plan is included in the Petition, and notice is provided to all beneficiaries as in formal administration. In the alternative, the beneficiaries can file a consent to the proposed distribution, which results in a much faster distribution of the estate assets.

If a decedent died with one or more creditors, it is usually beneficial to file for formal administration in order to make use of the statutes of limitations against creditors’ claims available from publishing notice to creditors.

Contact Raymond S. Grimm Esq.P.A. Today

Call Raymond S. Grimm Esq.P.A. today at (941) 423-7897 or complete our online contact form for a complimentary consultation.