When someone dies in Florida, any property they own may require probate proceedings. Physical assets and financial resources that belong to an individual become their estate after their passing. An estate also typically has financial responsibility for any debts and taxes owed by the deceased individual.
Probate proceedings managed by a personal representative help ensure that beneficiaries of an estate receive the assets they should and that creditors have an opportunity to obtain payment. Probate can also be useful in scenarios where people die without an estate plan on record.
Probate proceedings are notorious for drastically increasing how long it takes people to receive their inheritance from an estate. What is the usual timeline for probate?
Probate begins quickly
The person in possession of the decedent’s will must deposit it with the County Clerk within 10 days of their passing. There is a requirement for legal representation if the estate is worth $75,000 or more. The estate usually covers the costs of probate court and legal representation.
After the courts acknowledge the personal representative, the probate process begins in earnest. The personal representative may begin communicating with creditors, addressing tax obligations and otherwise resolving the responsibilities of the decedent.
Probate can take quite some time
Creditor claims are an important element of the probate process. Generally, creditors have up to three months after publication of notice or 30 days after receiving direct notice to file a claim for repayment with the courts. If they fail to act, then they may lose the right to repayment. Especially if there may not be enough resources to cover all obligations, the distribution of assets to beneficiaries or heirs often only occurs after addressing all valid creditor claims.
While the goal is often to resolve all probate matters within a year of the decedent’s passing, meeting that goal isn’t always possible. Factors including creditor claims, complex estate assets and conflict about the estate plan can lengthen the timeline for probate proceedings.
Preparing for a potentially year-long process is beneficial for those who agree to act as the personal representative of an estate. Beneficiaries also need to have realistic expectations regarding the turnaround time for the probate process.
Having proper support and accurate information about probate procedures can help people fulfill their responsibilities and temper their expectations. Seeking legal guidance as early as possible after someone dies is often helpful for those with an interest in an estate.