What is Summary Administration in Florida?

Summary administration is an expedited form of probate. Unlike formal administration that can take six months to one year or more, summary administration can typically be closed in one to three months. However, not all estates qualify for this type of probate. Our New Port Richey summary administration lawyer explains in further detail below.

What is the Summary Administration Process? 

Summary administration begins when a petition is filed with the probate court. Any beneficiary or individual named as the personal representative in the decedent’s will can file the petition. Under the probate rules, the petition must include certain information, including:

• Information confirming that the estate qualifies for summary administration
• A list of the property within the estate and its value
• Certain information regarding the debts held by the estate
• A plan for distributing the property in the estate
• Information for the surviving spouse and all beneficiaries, if applicable

After the court receives the petition and verifies that the estate is eligible for summary administration, a judge will issue an order for the distribution of assets. Personal representatives are not appointed during summary administration as they are during formal administration.

What Estates Qualify for Summary Administration?

There are two scenarios when an estate qualifies for summary administration. They are as follows:

• The entire estate is valued at $75,000 or less
• The decedent passed away two or more years ago

When an estate meets one of the qualifying criteria above, it is eligible for summary administration.

Benefits of Summary Administration

Summary administration has many benefits. Estates are often closed in just a couple of months compared to the minimum of six months necessary with formal probate. The expedited process also means lower attorney fees, court costs, and administrative expenses. Summary administration also involves less paperwork and fewer legal steps, meaning it is more efficient and beneficiaries can receive their inheritance fairly quickly.

Drawbacks of Summary Administration 

Summary administration does have many benefits, but there are also drawbacks associated with the process. Due to the fact that a personal representative is not appointed, it can be more difficult for heirs to discover hidden assets or object to and negotiate with creditors. Additionally, distributing assets can also be more difficult if banks refuse to work with the individual managing the affairs of the estate. This can lead to duplicative efforts or the need to convert the summary administration into the lengthier formal administration procedure.

Lastly, there is no formal inventory of property and so, surviving loved ones must account for all property of the deceased before submitting the petition with the court or are forced to effectively restart the process seeking additional relief from the court.

Our Summary Administration Lawyer in New Port Richey Can Determine if the Process is Right for You 

Summary administration has many benefits, but that does not mean the process is right for all families or estates. At Messina Law Group, P.A., our New Port Richey summary administration lawyer can help you determine the best strategy for your loved one’s estate and guide you through the process to ensure you and your family are protected. Call us today at (813) 492-7798 or chat with us online to schedule a consultation and to learn more about how we can help.

Source:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0735/0735.html