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Deeb
Elder
Law,
P.A.
6675
13th
Ave
N,
Suite 2C
St.
Petersburg,
Florida
33710
Phone:
(727)
381-9800
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Fax:
(727)
381-1155
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Florida
Probate
Code is
found in
Chapters
731
through
735,
Florida
Statutes.
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What is
probate?
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Probate
is the
administration
of a
decedent's
estate.
It
is a
court
proceeding
for
identifying
and
collecting
a
decedent's
assets;
paying
taxes,
claims
and
expenses;
and
distributing
assets
to
heirs/beneficiaries.
Under Florida
law,
a
decedent
leaving
a valid
will has
the
ability
to make
certain
decisions concerning
his or
her
estate,
including
choosing
who
administers
the
estate
and the
beneficiaries
who
receive
the
assets.
Generally,
probate
is
required
only
when a
person
dies
leaving
assets
titled in his
or her
own name
only.
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Does a
will
avoid
probate?
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A will
does not
avoid
probate.
A valid
will
usually
designates
a
representative
and
names
beneficiaries
to
receive
probate
assets.
It is
important
to
realize
that
some
people
may
actually
benefit
from the
finality
that
comes
with a
probate
proceeding.
Always
counsel
with a
qualified
professional
to
develop
an
appropriate
estate
plan.
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What are
probate
assets?
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Generally,
probate
assets
are
assets
owned
solely
by a
decedent
which
contain
no
provisions
for
automatic
transfer
of
ownership
at
death.
These
would
include
bank
accounts
titled
in the
name of
the
decedent
only,
life
insurance
policies
payable
to the
decedent's
estate,
and real
estate
titled
in the
decedent's
name
only
(unless
it is
protected homestead).
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How can
I avoid
probate?
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The
following
are some
methods
used to
avoid
probate:
- Transfer
property
to a
living
trust
- Transfer
property
from
individual
ownership
to joint
ownership
(may not
be the
appropriate
choice
in all
situations)
- Include
a
"payable
on
death"
designation
on bank
accounts.
- Include
a
"transfer
on
death"
designation
on
securities
account.
- Name a
beneficiary
to
retirement
accounts
such as
IRAs and
401(k)s.
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Since
estate
planning
and
elder
law
attorneys
are
trained
to
provide
appropriate
information
on when
and how
to avoid
probate
proceedings,
it is
always
recommended
to
consult
with a
qualified
attorney
when
making
estate
planning
decisions.
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