Which Assets Must Go Through Probate in Florida, and Which Ones Don’t?
When someone passes away, their estate may go through probate, a court-supervised process that oversees and distributes a deceased person’s property. A common misconception is that every asset automatically becomes part of probate after someone dies. In Florida, however, some assets pass straight to beneficiaries without court involvement, while others must go through probate before they can legally change hands. Understanding the difference can save you and your family from unnecessary stress and confusion during an already difficult time. Below, we discuss which assets typically go through probate in Florida and which ones avoid it.
Assets That Usually Avoid Probate in Florida
Generally, probate assets are property owned solely in the deceased person’s name without a beneficiary designation or survivorship. On the other hand, non-probate assets pass automatically by law or contract to another person.
Here are assets that don’t need to go through probate:
Jointly Owned Property With Survivorship Rights
Certain jointly owned assets automatically transfer to the surviving owner upon the death of one of the owners. This can apply to:
- Real estate owned as joint tenants with rights of survivorship
- Property owned by married couples as tenants by the entirety
- Joint bank accounts with survivorship language
Pay-On-Death (POD) and Transfer-On-Death (TOD) Accounts
POD and TOD accounts include bank and brokerage accounts, as well as securities with beneficiary designations. According to Florida Statute § 655.82, ownership of these accounts passes to the designated beneficiaries and is not part of the last surviving party’s estate.
Life Insurance and Retirement Accounts
Life insurance proceeds and retirement accounts, such as IRAs and 401(k)s, generally avoid probate when a valid beneficiary is listed. However, there is an exception. If the estate itself is named as the beneficiary, those proceeds may become part of the probate estate and be subject to probate administration.
Assets Held in a Trust
Property transferred into a revocable or irrevocable trust usually passes outside probate. Instead of the court supervising the transfer, the trustee distributes the assets according to the trust terms.
Protected Homestead Property
Florida’s homestead law provides strong protections for qualifying primary residences. In many situations, homestead property passes directly to the surviving spouse or heirs rather than becoming part of the probate estate. But this can become legally complex, depending on how the property was titled and who survived the owner.
Assets That Must Go Through Probate
Certain assets typically always require probate. These commonly include:
- Real estate titled only in the decedent’s individual name
- Bank accounts without POD designations
- Vehicles solely owned by the deceased
- Business interests such as LLC memberships or stock
- Valuable personal property like jewelry, artwork, and collectibles
- Legal claims or lawsuits belong to the deceased person
Even when probate is necessary, not every estate requires a lengthy court process. Florida allows summary administration for smaller estates (non-exempt assets $75,000 or less) or for estates where the person has been deceased for more than 2 years. This process is often faster and less expensive than formal probate.
Understanding which assets fall into each category early on can prevent delays, disputes, and unnecessary stress. Working with a Florida probate attorney can help you avoid costly mistakes during the administration process and determine the right steps to take.
Legal Help Is Available
If you have a probate matter or have further questions, contact our Miami probate & estate litigation lawyer today at Valero Law by calling 305-607-7011. We serve clients in Davie, Broward County, Coconut Grove, and Miami-Dade County.
Source:
flsenate.gov/Laws/Statutes/2015/655.82
