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Probate: Formal Administration Lawyers in Orlando, Florida
Probate is a legal process by which a will is validated by the courts. During the probate process, the courts will review the estate, identify creditors, oversee the payment of debts and taxes, and oversee the distribution of assets to an estate’s beneficiaries. If an estate is worth more than $75,000 (not counting homestead exempt real estate), your family may need to use the formal administration probate process. If you are not sure about whether you qualify for the more simplified summary administration probate process, consider speaking to Legal Counsel, P.A. which employs a probate lawyer in Orlando, Florida. If the deceased person passed away over two years ago, or if real estate is exempt, your family may still qualify for summary administration probate.
Formal administration probate is a court-supervised process through which a deceased person’s will is authenticated, during which debts and taxes are paid, and during which the remaining assets are distributed to beneficiaries. During formal administration, an executor must be named to oversee the process. Sometimes the executor is designated in the will, but sometimes one must be appointed by the family or the court. During formal administration, creditors and debts must all be listed and accounted for, and paid. All assets and property must also be listed, accounted for, and appraised. Our probate lawyer at Legal Counsel, P.A. may need to investigate the deceased person’s estate to account for all assets and debts. In addition to these documents, the family must also submit the deceased person’s will to the courts. If there is no will, intestate laws may apply. Sometimes with a formal administration probate process, the will is contested by beneficiaries, meaning there might be issues with the will or concerns about its validity. However, in many instances, with formal administration, the will, the death certificate, the list of assets and debts is presented, and statements about taxes due are also presented to the court. The names of beneficiaries and a proposal for how assets and property will be distributed is also presented. The judge can look this over, and if everything looks good and isn’t disputed, the probate process can be closed.
However, with formal administration, issues can arise. Wills can be contested. Creditors may make claims on debts that may be barred, or be so old as to not be enforceable or collectable and these debts may need to be disputed. Appraisals of property and assets can sometimes get complicated, especially if the value of assets is contested or questioned. Taxes must be paid. Or, if the deceased person owned property or real estate in multiple states, the estate may need to go through probate in multiple states. Our probate lawyer at Legal Counsel, P.A. can help you and your family address possible probate issues before they arise, so that probate can be completed as quickly as possible. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
Issues that Can Arise During Formal Administration Probate in Florida
Ideally, the probate process moves along smoothly. Documents are submitted to the court and the executor administers assets and property to beneficiaries in accordance with the will after debts and taxes are paid. However, with the formal administration probate process issues can arise. Here are some issues that can arise during formal administration:
- Disputes about the will. If the family is disputing the validity of the will or if there are questions about who should inherit what, sometimes families might hire a probate lawyer. Our probate lawyer at Legal Counsel, P.A. in Orlando, Florida can serve as executor of the estate during the formal administration process. A professional can serve as a neutral party, overseeing all documents, the appraisal process, and the distribution of assets so that this is done fairly and properly. A formal administration attorney can also be present in court to address any questions or disputes about the will.
- Addressing errors in a will. Sometimes the language of a will is ambiguous. Sometimes mistakes are made. If there are errors in a will or if the deceased person created the will without the assistance of an attorney, our probate lawyer at Legal Counsel, P.A. in Orlando, Florida may be able to help you understand what steps might need to be taken next to validate the will.
- Property in multiple states. If the deceased person owned property in Florida, but lived in New York or another state, then the estate may need to go through probate in each state. The Florida probate process will oversee any property or assets in Florida, while the probate process in other states will pertain to property and assets held in those states. Managing multiple probate processes can be complicated. This is why families sometimes hire a formal administration probate lawyer in Orlando, Florida like our probate lawyer at Legal Counsel, P.A. to help with the process.
- Assessing the value of assets and property, and ensuring that all property and assets are accounted for. You cannot assume that the deceased included all assets and property in his or her will. What if he or she forgot something? Our probate lawyer in Orlando, Florida at Legal Counsel, P.A. can review tax forms and research the estate so that all property is accounted for. When it comes to appraising the value of the estate, this can have major tax implications. Having a lawyer on your side during this process can make a big difference in the outcome of the probate process.
These are just some of the issues that can arise with formal administration probate. Our probate lawyer at Legal Counsel, P.A. can help you and your family every step of the way. Let us address the toughest probate questions. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
Protect Your Rights During Probate
The death of a loved one can be a stressful time. Add to the stress of making final arrangements while managing grief, the anxiety of the probate process, and it is easy for families to get overwhelmed. However, probate must be done right. Mistakes can lead to issues, liability for debts, or liability for taxes. Get your loved one’s estate administered properly. Contact Legal Counsel, P.A. and have our probate lawyer in Orlando, Florida assist you. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.