Probate is the legal process through which a deceased person’s estate is properly distributed to heirs and designated beneficiaries and any debt owed to creditors is paid off. In Florida, there’s Summary Administration and Formal Administration. The main phases of administering an estate involve:
- Gathering, identifying and valuing estate assets;
- Identifying, and satisfying creditor claims and paying final taxes; and
- Distributing the balance of the estate assets to the intended beneficiaries.
Probate is not evil. But it is not a fast process and families often get frustrated with the process and stressed about paying creditors. The most common complaints about probate include the following:
- It takes too long.
- It costs too much.
- It’s a public process, involving a judge.
In our experience, one of the main stumbling blocks we see for families involved in probate is gathering information about their loved one’s accounts, properties and creditors. And in many cases, families aren’t able to figure it all out. We can guide you every step of the way.
Call us at (813) 902-3189 to schedule your consultation.