What You Need to Know About Probate Summary Administration
The purpose of probate is to oversee the administration and distribution of a person’s estate, but in some cases, formal administration is not necessary and an estate can be resolved with less time, effort, and money through the use of summary administration. If you have questions about whether a loved one’s estate qualifies for summary administration in Florida, The Soto Law Office is prepared to assist with all aspects of your probate issue. To learn more, call or contact our office today to schedule a consultation.
How is Summary Administration Different?
Summary administration differs from formal administration in various ways. First, there is no requirement to appoint a personal representative for the estate. Second, for the estates that qualify for summary administration, the process is usually quicker and less expensive. Finally, due to the fact that the process is quicker, a summary administration requires less effort than formal administration.
In order to qualify for summary administration, the decedent must have passed away at least two years ago, or the value of the entire estate minus the value of non-exempt assets must equal less than $75,000.
The Summary Administration Process
In order to begin the summary administration process, a petition must be filed with the court by the decedent’s spouse, beneficiary or interested person to the estate. Details must be provided that explain why the estate qualifies for summary administration. This will be accomplished by listing the decedent’s assets, debts, and a plan for distributing assets. If the court approves the petition, the estate qualifies for summary administration and the assets can be distributed to the beneficiaries. An experienced probate attorney can facilitate this process and handle any issues that arise with the court.
Contact Us Today
Are you interested in learning more about the summary administration process for a Florida estate? If so, the knowledgeable attorneys at The Soto Law Office are here to help. Call or contact us today to schedule an evaluation of your case.