Understanding Formal vs. Summary Probate in Florida
Losing a loved one is never easy, and dealing with the probate process afterward can create additional stress. In Florida, probate is the legal process for distributing a deceased person’s assets to beneficiaries. There are two main types of probate proceedings: formal administration or summary administration. While both processes ultimately serve the same purpose, they work very differently. Formal probate is more detailed and is court-supervised, while summary probate is generally much quicker and simpler. Understanding the differences between each approach can help you and your family make informed decisions.
What Is Formal Administration?
Formal administration is the standard probate process used in Florida. This process is often required when the estate includes assets exceeding $75,000 in value. Additionally, if the person died less than two years ago, their estate undergoes formal administration.
If someone contests the will or if a personal representative must be appointed to handle the estate affairs, formal administration is necessary. A personal representative is the person responsible for managing the estate, from gathering all assets, paying debts, communicating with beneficiaries, and ensuring property is distributed properly.
How the Formal Probate Process Works
The process consists of the following steps:
- Petition for Administration: A petition for administration is filed with the probate court in the county where the deceased person lived.
- Validation of the Will: If there is a will, the court reviews it and officially appoints a personal representative.
- Notification of Beneficiaries and Creditors: The personal representative is responsible for informing all beneficiaries of the proceedings and any potential creditors. Under Florida Statute 733.702, creditors generally have 90 days from the date of notice to file claims against the estate.
- Valuation of the Estate: The personal representative also identifies and values all estate assets and, when necessary, opens an estate account.
- Distribution of assets: All valid debts are resolved first, then the remaining assets are distributed to heirs and beneficiaries
- Conclusion: Once everything is completed, the court issues a discharge order closing the estate.
While formal probate is slower, it is generally advisable when there are disputes, lawsuits, creditors, or complex assets.
What Is Summary Administration?
Summary administration is a simplified form of probate available only in certain situations.
An estate may qualify for summary administration if the total value of probate assets is less than $75,000 or if the person passed away more than two years ago. If the estate consists entirely of exempt assets, it may qualify for summary administration.
Unlike formal administration, summary probate doesn’t involve appointing a personal representative. Instead, a beneficiary or another qualified individual files a petition requesting that the court distribute the assets directly. Since there are fewer procedural steps, summary administration is usually faster and less expensive than formal probate.
How Summary Probate Works
Below are the steps involved in summary administration in Florida
- Filing a Petition: The process starts with filing a petition for summary administration along with documents showing that the estate qualifies as per Florida law
- Creditor Search: The court may verify that creditors cannot make claims against the estate or that efforts were made to identify potential creditors
- Asset Distribution: If the judge approves the petition, the court issues an order directing the bank or other parties to transfer assets to the beneficiaries.
Contact Us for Legal Help
To ensure a smoother probate administration process and determine the right option for your situation, contact our Miami probate & estate litigation lawyer at Valero Law by calling 305-607-7011. We serve clients in Davie, Broward County, Coconut Grove, and Miami-Dade County.
Source:
leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0733/Sections/0733.702.html
