Step-by-Step Guide to Settling an Estate in Florida: Navigating Probate and Beyond
Losing a loved one can be overwhelming, especially when legal and financial matters need quick attention. In Florida, settling an estate often means navigating probate—a court-supervised process for distributing a decedent’s assets. At Smith Cors Law, we help families handle these responsibilities with clarity, empathy, and efficiency. This guide offers a step-by-step overview of what you can expect when administering a Florida estate, from validating the will to distributing the last asset.
1. Confirm Death and Secure Important Documents
The first steps happen within days of a loved one’s passing.
- Obtain Death Certificates: You’ll need multiple certified copies to provide banks, insurance companies, and government agencies.
- Locate the Will: If one exists, verify that it is an original, signed will. In Florida, the original must be deposited with the court within 10 days of death.
- Secure the Property: Ensure the decedent’s home, vehicles, and other valuables are safe. Change locks if necessary to prevent unauthorized access.
2. Determine if Probate Is Required
Not all assets pass through probate. Some might have named beneficiaries or be held in joint tenancy. Generally, the following do not require probate:
- Bank accounts designated “Payable on Death.”
- Insurance policies with living beneficiaries.
- Jointly owned property with rights of survivorship.
- Assets titled in a valid revocable trust.
Any remaining assets in the decedent’s individual name may require probate. Florida has two main types:
- Formal Administration: For estates valued over $75,000 or complex estates.
- Summary Administration: For smaller estates (less than $75,000 in non-exempt assets) or if the decedent has been dead for more than two years.
3. Filing the Petition for Administration
To initiate probate:
- Hire an Attorney: Florida law typically requires an attorney for formal probate unless the personal representative is the sole interested party.
- Petition for Administration: Filed in the circuit court where the decedent resided. This document requests that the court open probate and appoint a personal representative (executor).
- Letters of Administration: Once the court approves, Letters of Administration grant the personal representative legal authority to act on behalf of the estate.
4. Inventory and Valuation of Assets
The personal representative must locate and itemize all the decedent’s assets:
- Real Estate: Homes, investment properties, and land.
- Personal Property: Jewelry, furniture, or collections.
- Financial Accounts: Checking, savings, brokerage, retirement accounts (if not already transferred to a named beneficiary).
- Business Interests: Ownership in LLCs, partnerships, or corporations.
Florida requires the personal representative to file an Inventory of the estate’s assets within 60 days after Letters of Administration are issued (unless otherwise directed). Accurate valuation facilitates the payment of creditors, calculation of taxes, and the distribution of assets correctly.
5. Handling Debts and Creditor Claims
Florida law requires that the estate publish a Notice to Creditors in a local newspaper. Creditors then have three months from the date of the notice to file their claims. If the personal representative disputes a claim, they must notify the creditor. If a court ultimately disallows the claim, the creditor will be unable to collect. Priority typically goes to:
- Administration expenses (court costs, attorney fees).
- Funeral expenses (within reason).
- Secured debts (like mortgages).
- All other claims are in descending order of priority.
If the decedent’s estate cannot fully cover all valid claims, some creditors go unpaid under certain conditions.
6. Paying Taxes
While Florida does not impose a state-level estate or inheritance tax, federal estate taxes might apply if the estate’s value exceeds the federal threshold. Additionally:
- Final Income Tax Return: The estate or surviving representative files the decedent’s final tax return for the year of death.
- Estate Income Tax Return: If the estate earns income (e.g., from rental properties or investments) after the date of death, the personal representative may need to file a separate estate income tax return.
Staying compliant with both federal and Florida laws prevents complications later.
7. Distributing Assets to Beneficiaries
Once debts are settled and taxes are filed, the personal representative can proceed with distributing assets. This process might include:
- Transferring Real Estate: Deeds are updated to reflect new ownership, or proceeds are distributed if properties are sold.
- Liquidating Accounts: Bank or brokerage accounts may be closed, with funds distributed to the heirs.
- Personal Property: Tangible items are given to the rightful beneficiary as designated by the will or Florida’s intestate succession laws if no will exists.
It’s essential to track and document every distribution, as the personal representative must provide a final accounting to the court and beneficiaries.
8. Closing the Estate
The final phase:
- Final Accounting: The personal representative files a comprehensive list of all transactions—income, expenses, distributions—conducted on behalf of the estate.
- Petition for Discharge: Once the court reviews and approves the accounting, the personal representative submits a discharge petition, officially concluding the probate process.
- Releases: Beneficiaries often sign receipts confirming receipt of their shares, thereby preventing future disputes.
Once the court grants discharge, the personal representative’s duties come to an end. Any further disputes or late claims typically require separate legal action.
Special Circumstances and Pitfalls
- Will Contests
- Heirs may allege undue influence, lack of capacity, or improper execution. These claims can delay probate significantly.
- Homestead Property
- Florida’s constitution grants special protections and may prevent certain devises if a spouse or minor child survives.
- Ancillary Probate
- If the decedent owned real estate in another state, a separate probate action (ancillary administration) might be necessary.
- Elective Share
- A surviving spouse can claim up to 30% of the elective estate, unless waived by a valid marital agreement.
Frequently Asked Questions
Q1: Can the personal representative be held personally liable?
Answer: Yes, if they mismanage estate assets or fail to follow court orders and statutory requirements. Hiring experienced legal counsel minimizes these risks.
Q2: What if the decedent left no will?
Answer: Florida intestate succession laws determine how assets are distributed, typically favoring spouses and children.
Q3: How long does probate usually take?
Answer: A straightforward formal administration can take 6 to 12 months. Complex estates or disputes may extend the timeline.
Why Work with Smith Cors Law?
Settling an estate can be daunting, particularly when emotions are high. Our attorneys at Smith Cors Law bring compassion, clarity, and decades of combined experience to guide you efficiently through every stage of the process. We handle everything from filing initial petitions to distributing final assets, ensuring compliance with Florida law and reducing stress for grieving families.
Conclusion
While the probate process in Florida involves multiple steps—from securing important documents to final distribution—the right legal support can streamline each phase. Thorough organization, timely filings, and proactive communication help avoid delays and family disputes. If you’re facing the responsibility of settling an estate or seeking to structure your own affairs to simplify matters for your future heirs, Smith Cors Law is here to help.
Disclaimer: This information is for general educational purposes and does not constitute legal advice. Consult a qualified attorney for advice relating to your unique situation. No aspect of this advertisement has been approved by the Supreme Court of Florida.
Gary Cors, a Florida native educated at USF and Stetson Law, has practiced wills, trusts, estates, probate, and real estate since 1999 while also teaching in Pasco-Hernando State College’s Paralegal Program.
