More Extremely Intriguing Florida Probate Court Information

1. What is Probate?

Probate is the approach by which the properties of a deceased person are collected, lenders paid, and the remainder of the estate distributed to recipients. In many Florida counties, the probate system is performed in a specialized probate department of the Circuit Court, under the oversight of several probate judges.

2. How is Probate Initiated?

Any recipient or financial institution can start probate, usually the individual named in the will as Individual Agent, likewise known as the administrator in other states, starts the process by submitting the original will with the court and submitting a Petition for Administration with the probate court. Usually a close relative of the decedent who anticipates to http://www.manta.com/c/mx45rjl/law-offices-of-lucas-magazine acquire from the estate will file the Petition for Administration if there is no will.

3. Who is Qualified to Serve as Personal Representative?

A bank or trust company running in Florida, any individual who is resident in Florida, and a spouse or close relative who is not always resident in Florida are all qualified to work as the Personal Agent. Nonrelatives who are not resident in Florida are not qualified to serve as Personal Representative.

4. How is the Personal Representative Chosen?

If the decedent had a will, the individual named in the will as the Personal Agent will serve, if eligible. If that person is reluctant or not able to serve as Personal Representative, the person chosen by a majority of the recipients in interest of the estate will pick the Personal Representative. If there is no will, Florida law offers that the making it through partner might serve, or, if there is no spouse or the spouse is unable or reluctant to serve, the person chosen by a majority of the beneficiaries in interest will serve.

5. Is the Individual Agent Required to Keep an Attorney?

In Florida, the Personal Agent is needed in almost all probate estate to maintain a Florida probate lawyer. Although the Florida probate kinds are available to the public, these are of no use to a non lawyer.

6. How is the Personal Agent Compensated?

Florida law supplies a payment schedule for the Personal Agent, based upon a percentage of the possessions of the probate estate.

7. Is the Household of a Deceased Individual Entitled to a Part of the Estate?

Florida law attends to a family allowance for the surviving spouse and minor kids of the deceased, as well as an elective share for a surviving spouse, thirty percent of the estate, if the surviving partner would choose the optional share to that left under the terms of the will. A Florida local is entitled to disinherit adult children, for any or no reason. Obviously, if it can be revealed that the adult children were disinherited as a result of the influence of another, they might have recourse through the probate court.

8. What Assets are Subject to Probate?

Assets owned by the departed person undergo probate. Assets that pass by methods of title, such as real estate entitled as "Joint Tenants with Right of Survivorship," or bank accounts titled as "Transfer On Death" are not subject to the probate procedure. Properties that go by means of a beneficiary classification, such as life insurance or some http://www.manta.com/c/mhcwmnt/the-law-offices-of-lucas-magazine pension, are likewise exempt to probate.

In some circumstances, however, assets that would otherwise pass by title or beneficiary designation can be subject to the probate procedure, particularly when it comes to a surviving spouse deciding to take an optional share against the estate.

9. How is Distribution of the Estate Handled if there is no Will?

Florida law sets forth rules for the circulation of an estate if there is no will.

If these is an enduring spouse and no lineal descendants, the surviving partner is entitled to the whole estate.

If there is a surviving partner with lineal descendants, and all lineal descendants are likewise descendants of the surviving spouse, the surviving spouse is entitled to the very first $20,000 of the probate estate, plus half of the rest of the probate estate. The descendants share in equal parts the rest of the estate.

If there is a surviving partner with lineal descendants, and not all lineal desdendants are likewise descendants of the surviving partner, the surviving partner is entitled to half of the http://www.superpages.com/yellowpages/c-attorneys/s-fl/t-spring+hill probate estate, and the descendants of the deceased share the other half http://www.superpages.com/bp/spring-hill-fl/the-law-offices-of-lucasmagazine-L2359942059.htm of the estate in equal shares.

If there is no making it through partner and there are descendants, each child is entitled to an equal share, with the children of a deceased kid sharing the share of their deceased moms and dad.

Florida law offers extra guidelines for dispersing an estate in such situations if there is no surviving spouse and no children or other descendants.

10. Who is responsible for paying estate taxes?

Under the Internal Income Code, the estate tax is collected from the estate of the deceased. Depending on the terms of the will, the estate tax might be paid from the probate estate only, or likewise from a living trust, life insurance coverage proceeds, and other assets passing straight to recipients outside the probate estate.