Florida Probate and Trust Administration Attorneys
When a Florida resident passes away, their death begins the probate process of legally transferring any assets or property to their beneficiaries. Many circumstances can affect how quickly or drawn-out the probate process can be. Estates with a valid will can usually wrap things up within months if no contestations are filed. For those who die intestate (without a will), have a will deemed invalid by the court, or have family members disputing its provisions, things can drag out for a year or more.
The experienced attorneys of Perez-Roura Law can help you navigate this process and minimize conflicts that might arise. Our years of representing these sensitive matters have made us a premier probate and trust administration firm throughout Florida. Reach out to us to learn more about how we can assist you during the probate process.
What is Probate Administration?
The term probate refers to legally settling someone's affairs when they die. Typically, a predetermined personal representative will be responsible for carrying out this process with the court's supervision. If one dies intestate, an administrator will be appointed, though this is often the closest living family member to the decedent. The chosen representative may be called an executor or an administrator, depending on whether a will exists.
While every probate case is unique, the process is pretty routine:
Validation of the will by probate
Inventorying the decedent's estate, including getting necessary appraisals
Pay creditors and taxes due
Distribute remaining assets to designated beneficiaries in the will or according to Florida intestate succession laws.
As mentioned earlier, dying without an estate plan (will, trust, etc.) will give the state discretion in how your assets get distributed. This means your property could potentially go to relatives you are unfamiliar with or dislike. Worse, any tax liability and financial obligations owed must be paid out of the estate first. As a parent, dying intestate can also mean the guardianship of your children is left to the court to determine.
What is Probate Administration?
Should you have an estate plan that includes a trust, then its administration will be carried out according to the provisions you created. State law allows assets held in living or revoked trusts to pass on to your heirs without the need for probate proceedings. Administration of your owned property will be carried out by the successor trustee you designated in its terms.
Typically, the administration of a trust occurs when its creator has become incapacitated or has died. How complicated this process becomes depends on the complexity of your trust, but usually involves the following steps:
Transference of property titles
Correct reporting of any income earned by the trust
Distribution of assets according to provisions of the trust
Notify all beneficiaries/heirs
Transfer financial accounts to the successor trustee
Satisfy any outstanding debts and liabilities
Account for all trust activities
File federal estate taxes as required
Act only in the best interest of the trust and its beneficiaries
Failing to complete the required steps in administering a trust can expose one to significant liability. This makes it crucial to work with an experienced Florida trust administration attorney like those at Perez-Roura Law to avoid costly mistakes. Our attorneys can explain how this process works in terms you understand and provide you with the necessary legal guidance to correctly fulfill your obligations as the administrator.
Planning Ahead Is Essential
Planning for your estate is an essential step in securing financial security for you, your loved ones, and any assets you wish to preserve. For many taking the first steps toward creating a legacy that supports themselves and those they care about, a will is the first of many steps. Comprehensive estate planning involves considering what happens after you pass away and for your life until that point.
For our clients who anticipate retiring in the near future, we create asset protection strategies that allow them to retain their property and not sacrifice eligibility for important programs like Medicaid. The estate planning attorneys of Perez-Roura Law are knowledgeable about advanced healthcare directives and durable power of attorney provisions in Florida. You can count on us to help you create a custom-tailored solution to minimize tax risks, family estate disputes, and more.
Our lead attorney, Pedro Perez-Roura, has often said that the only thing worse than not having an estate plan is having one that no longer works for you. We make it our mission to ensure that you make these important decisions while you can do so and not expose your family members to a risky Florida probate process. Simple mistakes can result in state intestacy laws robbing your designated beneficiaries of the benefit you intended for them. Arrange for an informational consultation with our firm today and learn more about our trust administration and probate representation services.
Reputable Probate and Trust Administration Attorneys for Your Florida Estate Issue
If you recently lost a loved one or a parent has become incapacitated, and you need to administer their estate, Perez-Roura Law is here to help you. We understand the challenges you are facing and have years of experience representing Florida families in your situation. Our legal team is dedicated to helping individuals, families, trustees, and grantors navigate this complex process and provide sound legal guidance in these matters.
Perez-Roura Law is here for families across the Sunshine State, including those with international ties. From buying a new home to planning for the unexpected, we can help you save money, time, and frustration with our extensive practice in Florida probate and trust administration. Working with us means that you gain peace of mind knowing your family and its legacy are in good hands.