Articles Posted in Probate

When a decedent’s assets go into probate in Florida the Florida Probate Case will be in the county court where the decedent maintained his or her domicile.

Pursuant to Florida probate law a judge will normally decide and rule on the validity of a will. The judge will also rule on who the heirs are should there be a question or dispute as to the validity of a decedent’s heirs.

If the decedent appointed a personal representative to administer the Florida will, the judge will determine if the representative is qualified administer the estate. If there are no objections and the judge determines that the representative qualified, the judge will issue letters of administration. These letters of administration allow the executor or personal representative to administer the will. Any issues or conflicts that arise during the representative’s administration will be ruled on by the circuit court judge.

On September 26, 2008, the FDIC issued interim final regulations entitled Deposit Insurance Regulations; Living Trust Accounts. The interim rules amend 12 CFR 330 were effective immediately.

The New regulations make it much easier to determine coverage when the bank has less than $500,000 under the trust and trustee’s accounts:

The FDIC’s main goal in implementing these revisions is to make the rules easier to understand and apply, without decreasing coverage currently available for revocable trust account owners.

This interim rule will result in faster deposit insurance determinations after depository institution closings and will help improve public confidence in the banking system. The rule eliminates the concept of qualifying beneficiaries and for account owners with revocable trust accounts totaling no more than $500,000, coverage will be determined without regard to the beneficial interest of each beneficiary in the trust.

How do you find a Florida probate Attorney?

It is important to look for an attorney within the state where the decedent was domiciled at the time of their death.

The type of lawyer that should be used will depend on what the case will involve.

Florida Estate Settlement is the process of gathering the assets of an estate and distributing them to the creditors and beneficiaries of the estate. In Florida this process is called a probate and generally requires the use of a Florida Probate Lawyer.

Most probate lawyers charge a percentage of the estate assets to handle the legal work involved. As Florida Estate Settlements get larger a percentage arrangement can become very expensive.

There is a wide range of fees charged for Florida Probate Administration and the Settlement of an estate. It is important to understand the nature and amount of assets and creditors to give a fair estimate of what a reasonable fee for a Florida probate should be.

Florida probate cases often involve situations where the decedent has step-siblings or half blood siblings.

Under Florida’s intestate statutes a step brother or sister would not receive any share of the decedent’s estate, but a half blood (one related by one parent) would receive 1/2 as much as a child that was related by both parents of the decedent.

In the case were there are only half blood siblings, each of them receives a full share.