Frequently Asked Questions About Summary Administration in Florida
After a loved one passes away, their surviving family members are left with the challenging task of determining what to do with their house, vehicle, and other property. If the deceased’s assets are valued at $75,000 or more, family members typically have to go through a process known as formal administration. On the other hand, when estates have a lower value than this, summary administration may be an option.
Although many people have a basic understanding of formal administration, this is not always the case with summary administration. Below, our New Port Richey summary administration lawyer outlines some of the most common questions we hear, and the answers to them.
What are the Eligibility Requirements for Summary Administration?
Not all estates qualify for summary administration. There are certain eligibility requirements that must be met and they are as follows:
- The decedent must have been a resident of Florida
- The estate must be valued at $75,000 or less
Even when the above eligibility requirements are not met, an estate may be eligible for summary administration if the decedent passed away more than two years prior.
How Long Does Summary Administration Take in Florida?
Of all the benefits summary administration brings, the fact that it is much faster is probably the biggest one for surviving loved ones. While formal administration can take anywhere between 6 and 12 months, summary administration can take as little as one to two months. When an estate is very small, the timeline may take as little as a few weeks.
What is the Process of Summary Administration?
While it is a shorter process, there are still many steps involved in summary administration. These include:
- Filing the petition, which involves drafting the petition and necessary pleadings, obtaining appropriate signatures, and filing any documentation that supports the petition
- Notifying beneficiaries of the death to prevent future disputes
- Obtaining court approval to proceed with summary administration
- Resolving debts and distributing property
What are the Limitations of Summary Administration?
Although summary administration is appropriate for many estates, the process does have its limitations. These include:
- If there are multiple or complicated creditor claims, formal administration may be necessary.
- Will contests or wrongful death claims also often require formal administration.
- When a decedent had property that spanned multiple states, summary administration is not appropriate.
- Formal administration is also necessary when the total value of the estate exceeds limits, even after homestead exemptions are applied.
Our Summary Administration Lawyer in New Port Richey Can Answer Your Questions
After someone you love has passed away, you will have many questions. You may wonder what type of administration applies to your case, or if your loved one’s estate requires probate at all. At Messina Law Group, P.A., our New Port Richey summary administration lawyer can answer all of your questions and provide the necessary legal advice so you can make informed decisions. We will also prepare you for any process necessary and make things as easy as possible for you and your family. Call us now at (813) 492-7798 or contact us online to schedule a consultation with our experienced attorney and to learn more about how we can help.
Source:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0733/0733ContentsIndex.html
