A Formal Probate Administration is required when a deceased person’s probate assets exceed $75,000 and probate proceedings are initiated within two (2) years of the deceased person’s death. Even if probate assets do not exceed $75,000 or if the deceased person passed away more than two (2) years ago, a Formal Probate Administration may be the preferred type of administration because it is the only administration where a personal representative is appointed and authorized to act on behalf of the estate. This may be beneficial if the estate needs to negotiate with creditors or if a lawsuit needs to be brought on behalf of the estate.
An interested person can initiate a Formal Probate Administration by filing the Petition for Administration which informs the court about the basic information regarding the deceased person, probate assets, and beneficiaries of the estate. The petitioner must also file the Oath of Personal Representative in which they swear or affirm that they are qualified to serve as a personal representative and that they will administer the estate pursuant to Florida law.
Once a personal representative has been appointed, they will have sixty (60) days to file the Inventory which inform the court and beneficiaries of the probate assets. Shortly after being appointed, the personal representative will also need to serve beneficiaries with the Notice of Administration, notifying beneficiaries that a probate has been initiated, and serve creditors with the Notice to Creditors to limit the amount of time creditors have to file claims against the estate. Generally, creditors must file claims against the estate within the longer of three (3) months from the first date of publication of the Notice to Creditors or, if a creditor is or should have been known or discovered, thirty (30) days from receiving service of the Notice to Creditors.
After the three (3) month creditors’ claims period has expired, the personal representative may file the Statement Regarding Creditors, informing the court of any potential creditors who did not file a claim against the estate, and the Petition to Determine Homestead, if applicable.
Once the personal representative has performed all of their duties as required under Florida law, they may file a Petition for Discharge which includes a Final Accounting of expenses incurred during the probate administration along with a proposed plan for distribution of the probate assets. The Petition for Discharge must be filed within twelve (12) months of being appointed personal representative unless an extension is granted by the court.
Generally, a Formal Probate Administration takes six (6) to nine (9) months to complete, but it is not unusual for this type of administration to last longer than one (1) year depending on the assets and parties involved.
Do you need a probate attorney?
Provurb is not a law firm and we do not provide legal advice. Information contained in this blog is for the general education and knowledge of our readers. It is not designed to be, and should not be used as, the sole source of information when analyzing and resolving a legal problem, and it should not be substituted for legal advice. Moreover, the laws of each jurisdiction are different and are constantly changing. This information is not intended to create, and receipt of it does not constitute, an attorney-client relationship. If you have specific questions regarding a particular fact situation, we urge you to consult with a probate attorney.