If your loved one passes away in Florida, their estate will go through a probate process. The estate administration and actions necessary to guide the estate through the probate process will depend on whether they had a will. When a person dies with a will, this legal document will be followed when dispersing assets. If an individual dies without a will, the assets in their estate are divided according to intestate succession laws.
A will disperses assets per the wishes of the deceased
When a person dies with a will, it can make the estate administration process easier. The will names an executor who handles the disbursements of assets to chosen beneficiaries. Three types of administration can be used when a will is present, which include the following:
- Formal administration
- Summary administration
- Disposition without administration
The formal administration process is used for estates worth more than $75,000. Summary administration is used if the estate’s value is less than $75,000 or if the death occurred more than two years ago. Disposition without administration is filed if no land or real estate is owned by the deceased and their assets don’t cover the estate’s formal debts or final expenses.
What happens if a Florida resident dies without a will?
When a will hasn’t been created and a person dies, their estate is dispersed per intestate succession laws. This process can also occur with a valid will if the beneficiaries meant to receive specific property aren’t clear. All interstate heirs will receive equal share of the estate’s property in this situation.
If your husband, wife, mother or father has passed away, a will or intestate laws will dictate how assets are dispersed. Unfortunately, intestate law may not reflect the wishes of the deceased, which is why it’s crucial to create a will while living.