Understanding Summary Administration in Tampa, Florida

When a person passes away, their assets must go through probate before they can be distributed to heirs and beneficiaries. Probate is a legal process that can be complex and time-consuming, especially if the estate is large or if there are disputes among family members. However, in some cases, the probate process can be simplified through a procedure known as summary administration. In this article, we will explore what summary administration is, how it works, and whether it may be an option for your Florida probate and estate planning needs.

What is Summary Administration?

Summary administration is a simplified probate procedure that may be available for estates with a value of less than $75,000 or for estates where the decedent has been deceased for more than two years. This procedure allows for a faster and less expensive way to distribute assets to heirs and beneficiaries. However, summary administration is not available for all estates and may not be appropriate in some situations.

How Does Summary Administration Work?

To initiate summary administration, a Petition for Summary Administration must be filed with the court. The petition must include a list of all of the decedent's assets and liabilities, the names and addresses of all beneficiaries and heirs, and a statement that the estate qualifies for summary administration. The petition must also include a proposed plan for the distribution of the assets.

If the court approves the petition, the personal representative can distribute the assets according to the approved plan without the need for a full probate administration. The beneficiaries and heirs will need to sign a Waiver of Notice, indicating that they do not require formal notice of the administration. The personal representative will then need to file a Notice of Administration with the court, which provides information about the administration and how to file a claim against the estate.

When is Summary Administration Appropriate?

Summary administration may be appropriate if the decedent had a small estate, or if they had assets that were not subject to probate, such as assets held in a trust or joint tenancy. It may also be appropriate if the decedent had been deceased for more than two years and there are no pending claims against the estate. However, summary administration may not be appropriate if there are disputes among family members or creditors, or if there are complex issues regarding the distribution of assets.

Conclusion

Summary administration can be a useful tool for simplifying the probate process and reducing the costs associated with probate administration. However, it is important to consult with an experienced Florida probate attorney to determine whether summary administration is appropriate for your specific situation. An attorney can guide you through the process, ensure that all legal requirements are met, and help you avoid potential pitfalls. By working with an attorney, you can ensure that your loved one's assets are distributed efficiently and according to their wishes.

If you need legal help with Will and Trusts and would like to schedule a free consultation with our Wills and Trusts Attorney, Contact our Tampa Estate Planning Attorney today or fill out our contact form. Your contact form submission will go directly to our Wills and Trusts Lawyer even if he is out of office. Please include the best time to return your call and a brief description of your Estate Planning needs.

Information contained in this website is for general informational purposes only. It does not constitute legal advice.