Reliable Legal Representation To Cover Your Estate Administration And Probate Needs
After losing a loved one, we would hope to have sufficient time to grieve and come to terms with the absence of that cherished person in our lives. However, our loss may only be the beginning of a series of unending and unavoidable paperwork related to probate. Moreover, a knowledgeable attorney can help you shoulder the burden.
At De Paz Law, we focus our legal practice exclusively on estate administration and probate. We understand the challenges and will strive to help you through the difficult times you are currently undergoing.
Understanding The Probate Process
Probate refers to a court process required to gather all of the decedent’s assets, transfer them to beneficiaries, and supervise the payment of debts and taxes. The goal is to successfully distribute property among beneficiaries. Probate is necessary if a valid will is in place or an individual dies intestate.
If your deceased loved one had a valid will in place, the next step is to notify the probate court of the testator’s death and start the supervised distribution of assets. An individual appoints heirs and potentially a personal representative to gather, valuate, administer and transfer the assets to the designated beneficiaries. A representative’s duties also include paying taxes and debts such as funeral expenses.
If there is no valid will, Florida has specific laws to distribute property. For example, if there is a surviving spouse, they receive the decedent’s estate. If there is no surviving spouse but there are descendants, the descendants inherit the probate estate.
As our client, we will help you through every step of the process and make sure you fully understand your rights and what you can expect. We will also represent your best interests through litigation if you have reasons to believe your loved one’s will, trust or other documents fail to reflect their true wishes.
We are proud to provide personalized advice and assistance to beneficiaries, personal representatives and professionals, including financial planners, realtors and insurance consultants. We provide highly personalized attention, solutions and technologies that allow you to follow up on your case and review your documents 24/7.
Answering Frequently Asked Questions
The probate process can be overwhelming, and it’s normal to have many uncertainties about it. Here are answers to some of the questions we often hear from our clients:
How can I ensure fair distribution of the estate among family members?
If you are the personal representative of your loved one’s will, you must familiarize yourself thoroughly with the document. Compile a detailed inventory of the estate’s assets. If possible, try to have them appraised. This step is important for transparency and fairness in distribution. Fulfill all legal obligations, such as paying off any outstanding debts and taxes, before distributing assets. This helps protect the estate’s integrity.
Maintain open and clear communication with all beneficiaries. Keeping them informed about the probate process and any developments can help manage expectations and reduce potential disputes. If conflicts do come up among beneficiaries, it’s important to stay neutral. Mediation can be a useful tool in resolving disputes amicably.
More importantly, keep meticulous records of all transactions and communications related to the estate. This documentation can be crucial in demonstrating that you’ve acted in accordance with your fiduciary duty. Don’t hesitate to seek legal guidance when necessary.
Are there ways to expedite the probate process?
To make the probate process smoother and possibly reduce the time needed to settle the estate, make sure that all required documents and information are complete and accurate when filing. This helps prevent delays due to missing or incorrect paperwork. We can help you fulfill the legal requirements, address potential issues quickly and ensure compliance with all procedural steps, which can help speed up the process.
However, probate is a process that will take time, regardless of how well you prepare the paperwork. Most people also opt for estate planning tools that allow their assets to skip probate altogether. This includes living trusts, joint ownership or the designation of beneficiaries on financial accounts.
What are the tax implications of inheriting property in Florida?
While Florida does not impose estate taxes, federal estate taxes may still apply if your loved one’s estate exceeds the federal exemption limit. Moreover, if you sell an inherited property, you may need to pay capital gains tax on the appreciation of the property’s value since the date of the decedent’s death. You may also be responsible for ongoing property taxes if you inherit real estate. These are based on the property’s assessed value and local tax rates.
Many factors can play a role in your tax obligations. At De Paz Law, we can help assess your situation and help you fully understand your inheritance’s tax implications.
How does Florida handle probate for snowbirds or part-time residents?
It depends on the decedent’s domicile. This is the place where a person has their permanent home and to which they intend to return. Florida probate laws will only apply to the estate if the state was the decedent’s domicile.
If a snowbird or part-time resident does not have Florida as their domicile but owns property in the state, the probate process will typically require an ancillary probate proceeding. This means that while the main probate process for the decedent follows the state laws of their domicile, their Florida property must go through probate under Florida law. This often involves filing specific documentation and may require appointing a local representative to handle the proceedings.
In cases like these, working with an attorney who has experience in handling multistate probate issues is crucial. We can help you navigate the complexities of dealing with properties and legal requirements in different states.
Call Us For A Consultation
Schedule an appointment with us virtually by calling 813-649-5241. You can also send us an email. El abogado de Paz también puede atenderle en español.