When someone dies owning assets titled solely in his or her name in Florida, these assets will go through probate. After determining the validity of the decedent’s will, the court may designate a personal representative to execute and distribute the estate according to the deceased person’s wishes.
Is it possible to avoid probate with a small estate affidavit in Florida? Keep reading to find out.
Depending on the size of the estate subject to probate, the existence of disputes between heirs, and the complexity of the assets that are part of the estate, probate may result in a time-consuming and stressful experience.
A small estate affidavit is a written statement authorizing heirs or beneficiaries to claim the assets of a deceased person outside of formal probate proceedings.
With a small estate affidavit, surviving heirs can inherit their share of a decedent’s estate without going through a lengthy and expensive probate process.
There is no small estate affidavit option in Florida. State law has specific alternatives to execute smaller estates and ensure a quicker distribution of the decedent’s assets to their rightful heirs.
There are three ways to execute a decedent’s estate in Florida – summary administration, formal administration, and disposition of property without administration.
Formal administration is the traditional form of probate in Florida. If the value of a deceased person’s estate subject to probate exceeds $75,000 or the decedent has been dead for less than two years, the estate must go through formal administration.
The first element of formal administration is the appointment of a personal representative to execute and distribute the decedent’s estate under court supervision. The process involves several additional steps, which may result in additional waiting months for heirs and beneficiaries.
Summary administration is a quicker version of formal administration. As there is no statutory requirement for a personal representative, the execution of estates subject to summary administration requires no more than six weeks.
As provided by Florida Statutes §735.201(2), summary administration applies for cases in which “the value of the entire estate subject to administration in this state, less the value of property exempt from the claims of creditors, does not exceed $75,000 or that the decedent has been dead for more than 2 years.”
The closest solution to a small estate affidavit available in Florida is the disposition of property without administration. Florida Statutes §735.301 (1) specifies that “no administration shall be required, or formal proceedings instituted upon the estate of a decedent leaving only:
Consult with an expert attorney to identify whether disposition without administration offers a feasible solution for your case.
Waste no time – contact Attorneys Romy B. Jurado and Diana C. Collazos by calling (305) 921-0976 or emailing [email protected] to schedule a consultation.
Business and Immigration Lawyer for Entrepreneurs, Start-ups, Small Businesses and Foreign Investors. Romy Jurado grew up with the business dream of becoming a lawyer and starting her own business. And today, she is living proof that dreams really do come true. As the founder of Jurado & Associates, PA, a specialty business, real estate, and immigration law firm, Romy's practice focuses primarily on domestic and international business transactions, with a strong emphasis on company formation, stock sales, and assets, contract drafting, and business immigration. In 2011, Romy earned her Juris Doctor degree from Florida International University School of Law. She is fluent in two languages (English and Spanish) and is the proud author of Starting a Business in the US as a Foreigner, an online business guide. Call 305-921-0976, email [email protected] or WhatsApp +13053968094 for a consultation.