Inheritance Loans and Probate Law in Florida

Inheritance Loans and Probate Law in Georgia
August 12, 2017
Inheritance Loans and Probate Law in District of Columbia
August 12, 2017

    Get a Secure Inheritance Loan, usually within 72 Hrs if you’re an Heir or Beneficiary of an Estate in Florida, in Probate or Trust

    If you are currently dealing with, or about to deal with, the Florida state court system with respect to a probate or estate issue – the following information should be helpful to you.

    Probate law governs estate matters when someone who, such as a family member or other loved one, passes away. These laws insure that creditors are paid properly and that assets are distributed correctly to the “heirs,” or the descendant(s) of the estate.

    What is the purpose of Probate? Probate is the legal process that deals with estate assets and property, with regard to heirs and creditors. Probate begins with a “petition” to open the estate and name a personal representative who is responsible for the administration of the deceased’s property.

    The next step is when an official Notice of Creditors is printed in a local newspaper and Notice of Administration is sent to other involved parties. Creditors then have a set amount of time to file their claims from the first date of publication. Then the personal representative can pay the debt and distribute the remaining estate. Finally, a petition for discharge is filed, and the estate is closed.

    Florida Probate

    The Florida Statutes and Probate Rules, as stipulated by the Florida Supreme Court, are extremely complex, hence the need for a qualified probate lawyer experienced in probate matters. Florida’s probate law calls for most personal representatives or executors to hire an attorney. Florida law insists that unless the personal representative or “executor” is the sole beneficiary, he or she must hire a lawyer during the probate process.

    If someone dies and there is no will (“intestate”) in the state of Florida, this person’s assets are divided within the “immediate” family. If the person who is deceased had a spouse and minimum of one child, the first $60,000 of their estate beyond homestead entitlements, plus ½ the balance of the estate, will transfer to the spouse. The rest of the estate will then go their children. If there is a spouse but no children – the complete estate will transfer to the spouse. If there is no spouse, and there are no children, the estate then shifts to their parents, if they are alive. If their parents aren’t still living, the estate goes to the deceased’s siblings.

    As we indicated, Florida probate law is rather complex. Executing a Will is advisable. In Florida, you are allowed to execute a Will, signed before two witnesses, if you are 18 or older, and of sound mind.

    Probate in Florida

    Florida does not have a separate probate court. The Circuit Court has jurisdiction over mental health, estate, and juvenile matters. The court allows jury trials.

    Click Here To Contact A Florida Probate Cash Advance Representative