The Summary Administration Process in Florida
Summary administration is a streamlined probate process available when the decedent has been deceased for over two years or if the estate’s value is $75,000 or less. This process involves:
- Execution of documents by beneficiaries;
- Notifying creditors (only under certain circumstances);
- Determining homestead status; and
- Distributing funds to beneficiaries and creditors according to the court’s orders.
Duration of Summary Administration
Summary probate may only take 3 to 6 months to complete unless complicated by issues such as a will contest, which would require conversion to formal administration. Neither type of probate administration (formal or summary) can be finalized if litigation remains ongoing.
Advantages and Disadvantages of Summary Administration
Summary probate offers several benefits, including a shorter duration and lower costs compared to formal probate. However, it lacks the appointment of a personal representative, which can make obtaining necessary information more challenging. Additionally, summary probate does not involve issuing letters of administration. These letters can be useful for accessing estate information and dealing with agencies like the IRS.