The Villages Probate Attorney

After someone passes away in Florida, all of their property is often required to go through the probate process. Probate can be a long and complicated process. If creditors make a claim against the estate and are successful, it will reduce the total value of the estate. This essentially reduces the inheritances received by beneficiaries. Other costs associated with probate, such as court fees, are also taken from the estate. For these reasons, many people draft an estate plan that will help their loved ones avoid the probate process. Contact our experienced The Villages probate attorney for more information or immediate assistance.

What is Probate?

Probate is a court-supervised process that distributes a person’s estate after they pass away. When a person has drafted a will before they pass away, confirming the document’s validity is one of the first steps in the probate process. From there, the estate will be administered according to the instructions in the will. The personal representative is responsible for distributing the state, paying creditors, and other tasks. The personal representative is named in the will.

If a person passes away without a will, the probate court will appoint a personal representative to administer the estate. The estate will also be distributed according to the intestacy laws in Florida.

How to Avoid Probate in Florida

Probate takes anywhere between six months to one year. Sometimes, it can take even longer. The property within an estate cannot be distributed to beneficiaries until probate is resolved. Probate can also be very expensive. Publications are required, court filings are costly, and attorney fees can add up. For these reasons, many people choose to use strategies that can help their loved ones avoid the probate process. These are as follows:

• Trusts: Establishing a trust allows you to place your property within the trust, which is a legal document. Trusts are separate legal entities and so, the property within one is not subject to probate. Still, you can manage the property within a trust during your lifetime. You will also name a successor trustee who will manage the property after you pass away and distribute it according to the instructions in the trust.
• Beneficiary designations: You can add beneficiary designations to bank accounts, retirement accounts, life insurance policies, and more. When a financial account has a beneficiary designation, the proceeds can be distributed directly to beneficiaries without the need to go through probate.
• Joint tenancy: Co-owned property does not have to go through the probate process as long as one owner is still alive. Instead, the property is automatically transferred to the surviving owner. There are some risks associated with this strategy, including opening your property to the other co-owners creditors so it is important to obtain legal advice.

Our Probate Lawyer in The Villages Can Help with Your Case

At William Rambaum, P.A., our probate attorney serving The Villages can help protect your assets and your legacy for you and your family. Call us now at 727-781-5357 or contact us online to schedule a consultation with our experienced attorney and to learn more about how we can help.