Effective Management and Distribution of Assets.
In Florida, probate is the court-supervised process of identifying and gathering the assets of a deceased person, paying the deceased individual’s debts, and distributing all assets to eligible beneficiaries.
Probate proceedings are required to ensure that a deceased individual’s debts are properly paid off and all financial affairs are concluded, and to ensure that assets properly pass to the correct beneficiaries.
When Probate IS Required..
Florida probate procedures are required in two situations:
A probate proceeding must be conducted in Florida only when "probate assets" exist.
Probate assets are those assets that are owned solely by the deceased at the time of his or her death. Any assets jointly owned or that indicate a designated beneficiary, such as a life insurance policy, are not subject to probate administration.
Determining which assets are subject to probate can be a complicated matter.
It is important to understand that simply created a Last Will & Testament does not mean your assets will avoid Probate. In fact, it likely means that Probate will be required, if you fail to to do additional Estate Planning or to properly designate beneficiaries.
Ideally, your loved ones will never have to hire a Probate Attorney in Miami. But the only way your loved ones can avoid Probate is for you to plan today.