The Formal Administration Process in Florida
In Florida, formal administration is the most common process for managing a decedent’s estate. This method involves ongoing judicial oversight to ensure the decedent’s wishes are honored. The steps in the formal probate process include:
- Preparing and executing necessary documents;
- Appointing a personal representative;
- Publishing notice to the decedent’s creditors;
- Filing an inventory of the estate;
- Depositing liquid assets into a restricted depository under the estate’s name;
- Determining if any property qualifies as homestead;
- Preparing final tax returns, if needed;
- Selling property, if necessary;
- Settling debts;
- Distributing assets to beneficiaries; and
- Closing the estate.
Duration of Formal Administration
The formal probate process in Florida can take between 6 to 18 months to complete, depending on the complexity of the estate. Any litigation that occurs can prolong the process.
Advantages of Formal Administration
The formal probate process offers several benefits, including the appointment of a personal representative who manages the estate and has the authority to handle legal disputes. This representative is authorized to act on behalf of the estate through letters of administration issued by the probate court. These letters of administration are accepted by banks and other institutions for accessing estate assets.
Appointment of a Personal Representative
If a valid will names a personal representative, that person typically fulfills the role. If there is no will, the surviving spouse is usually first in line to serve. If no spouse is present, the decedent’s heirs vote to select a personal representative, with the court appointing the individual who receives the majority of votes. If the heirs cannot agree, the closest relative may select the personal representative with court approval. Certain individuals, such as minors, incapacitated persons, or those convicted of felonies, are disqualified from serving as personal representatives.
Why Does a Personal Representative Need an Attorney?
A personal representative should always seek the help of a skilled attorney when managing the decedent’s probate estate. Even in straightforward cases, legal complexities frequently arise that may be unfamiliar to those without legal training.
The attorney for the personal representative provides guidance on legal rights and responsibilities and represents the personal representative throughout the probate process. This attorney does not represent the estate’s beneficiaries.
If a will specifies a particular attorney or law firm for the personal representative, this requirement is not obligatory. The personal representative has the freedom to select a different attorney.