The Pros and Cons of Probate in Florida

The Pros and Cons of Probate in Florida

Probate is a complex legal process where the will is validated, heirs are determined, assets are inventoried and appraised, debts are paid and assets are ultimately distributed – all under the supervision of a judge.

You have probably heard that probate should be avoided if at all possible, but there are some circumstances when it may be beneficial.

Pros of Probate

If you have a small estate or have died without a will (called dying intestate), the probate process provides important guidance on ensuring that the right beneficiaries inherit your property. Florida has a special probate process for small estates that is basically a shortcut to expedite the process.

You qualify to use this simplified process if (1) your estate contains no real estate and your property is free of any potential creditor claims, or (2) if the value of your estate, minus the value of exempt property, is less than $75,000 or the decedent has been dead for more than two years.

Cons of Probate

Probate ties up the assets you have left your beneficiaries and, if there is a business involved, can adversely impact that as well. Family members may have to foot the bill for expenses relating to the estate or the assets until those assets are available. Once the Personal Representative is appointed, it could take months or even years before the assets are finally distributed.

Probate takes time and money — money that could have gone to beneficiaries instead of attorneys and the court. In addition, the fact that there is a probate proceeding will become a matter of public record.

While Florida law clearly states that a surviving spouse will be the sole beneficiary if no will exists and the decedent did not leave behind any children, things can get very complicated after that.

Even if there is a will, the court still needs to ensure that the will is valid and that there is no conflict between the will and Florida law, especially when homestead property is involved. Either way, you will need the assistance of a skilled attorney to help navigate this process since the State of Florida makes do-it-yourself probate very difficult.

To learn more about avoiding probate in Florida, contact one of the experienced Florida probate attorneys at Jurado & Farshchian, P.L., at (305) 921-0440, or email us at info@jflawfirm.com.

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