Probate
Probate refers to the process of validating a deceased person's will. Probate usually involves administering the estate and assets of the deceased by resolving debt claims and distributing remaining property according to the terms of any valid will.
By hiring an attorney to take care of your loved ones probate administration, these steps below can be taken care of by a legal representative while you and your family focus on the changes happening in your life due to your loss. These are a few things that must be considered when validating a will and taking care of debt and liability of the deceased.
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Creditors connected to the deceased need to be notified and legal notices must be published
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Executors of the will need to understand when and how to distribute all assets while accounting for creditors' rights to unpaid debts
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Draft personal representative petitions
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Obtain Letters of Administration
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Homesteading property (which is separate from other assets in the state of Florida)
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Filing and objecting claims within the statute of limitations
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Lawsuits pending over death or other lawsuits still pending
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Real Estate or property sales to divide assets or pay debts
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At certain thresholds, estate taxes and gift or inheritance taxes will be due
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Administration costs, income tax in interest and capital gains as well as property taxes must be paid prior to asset distribution
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Transfer of any other asset from deceased to beneficiary
