What is Probate Administration? What it is and how it works.
Probate administration is the legal process that takes place after someone passes away. The process of probate administration involves the validation of a will, settlement of debts, and distribution of assets.
What Is Probate?
Probate is the court-supervised process of administering a deceased person’s estate. It ensures that:
- The will (if one exists) is valid
- Assets are properly identified and appraised
- Debts and taxes are paid
- Remaining assets are distributed to rightful heirs or beneficiaries
If there is no will, the estate is considered “intestate,” and state law determines how assets are distributed.
When Is Probate Required?
Probate is generally required when:
- The deceased owned assets solely in their name
- There are no designated beneficiaries (e.g., a life insurance policy or retirement accounts)
- Real estate needs to be transferred
However, certain assets bypass probate, such as:
- Jointly owned property
- Accounts with designated beneficiaries (like IRAs or POD bank accounts)
- Assets held in a trust
What Types of Probate are there?
There are three main types of probate proceedings. Each type is designed to fit different estate situations based on factors like estate value, asset complexity, and whether a valid will exists.
- Formal Administration (Formal Probate)
Best For: Most estates with non-exempt assets exceeding $75,000
- Formal administration is the most comprehensive and commonly used probate process in Florida. It is typically required when:
- The value of the estate’s assets exceeds $75,000 (excluding exempt assets like a homestead property)
- There are disputes or complex asset issues
- Creditors must be dealt with
- Summary Administration
Best For: Small estates valued at $75,000 or less or when the decedent has been dead for more than 2 years
- Summary administration is a simplified version of probate designed for:
- Estates with non-exempt assets under $75,000
- Decedents who have been deceased for more than two years, regardless of estate value
*Important: All heirs must agree to use summary administration, and creditors must be addressed or time-barred.
- Disposition Without Administration
Best For: Estates with minimal assets and only exempt property
This is the least formal process and is used when:
- The estate consists solely of exempt property (e.g., household items, personal effects)
- Non-exempt assets are insufficient to cover funeral and medical expenses
