Why is probate necessary?
The purposes of probating an estate are: 1. To collect the probate property and assets of the deceased; 2. To protect and preserve the property of the deceased; 3. To pay all debts, claims, and taxes owed by the estate; and 4. To determine who is entitled to share the estate and to distribute the property accordingly. What is involved? A will usually names a personal representative referred to as an executor to manage the estate’s assets. If there is no will, then the court will appoint a personal representative called an administrator. The executor, usually with the guidance and assistance of a lawyer, is personally responsible for the proper handling and settlement of the estate. The executor is usually required to: 1. Take possession of inventory and preserve the probate assets; 2. Apply for support allowance for any surviving wife and family of deceased, if needed; 3. Collect all income, such as rents, interest, dividends, and make demand for and collect all debts, claims and notes
The purposes of a probate proceeding are: a. To collect the decedent’s probate assets; b. To protect and preserve the property of the estate; c. To pay all debts and taxes; d. To determine who is entitled to the probate estate and distribute the property to them. This “probate” procedure is designed to assure that all property of the deceased is accounted for, that all taxes are paid, that the persons properly entitled to the property receive it, and that the personal representative receives the protection afforded by statute and by the court’s approval of his actions. There may be special circumstances where all persons interested in an estate, by common consent after review with their attorney, conclude that formal probate proceedings are unnecessary. However, anyone who undertakes to deal with the probate property of a decedent without qualifying himself as an executor or administrator exposes himself to personal liability for his conduct. He should be fully advised by counsel befor
The purposes of the probate process are to: • collect the decedent’s probate assets; • protect and preserve the property of the estate; • pay all debts and taxes; • determine who is entitled to the probate estate; and • distribute the property to them. This probate process is designed to assure that: • all property of the decedent is accounted for; • all taxes are paid; • the person properly entitled to the property receives it; and • the personal representative receives the protection afforded by statute and by the court’s approval of his actions. There may be special circumstances where everyone interested in an estate, by common consent and after review with their attorney, conclude that formal probate proceedings are unnecessary. However, anyone who undertakes to deal with the property of the decedent without qualifying as an executor or administrator in this manner exposes him-self to personal liability for his conduct. Anyone so inclined should be fully advised by a lawyer before
To collect and determine the estate’s assets and to protect the assets of the estate. To provide a means of converting assets to cash to distribute to beneficiaries, or to pay creditors/taxes. To legally transfer ownership of real property. To determine who is entitled to share in the estate and to distribute the property to the proper parties. What happens if a person dies, and has left no will? The property will be distributed in accordance with Florida law. How long does it take to get a file from the Record Center? The file will be sent to the department within two working days of receiving the request at Records Center Guardianship Information Guardianship is a legal procedure to protect the personal and/or property rights of an incapacitated person by having a Court appointed guardian. There are various types of guardianships. An attorney can assist you in determining what type of guardianship, if any, is necessary. Guardianship cases are generally established when: • Someone is
The primary function of probate is transferring title of the decedent’s property to his heirs and/or beneficiaries. If there is no property to transfer, there is usually no need for probate. Another function of probate is to provide for the collection of any taxes due by reason of the deceased’s death or on the transfer of his or her property. The probate process also provides a mechanism for payment of outstanding debts and taxes of the estate, for setting a deadline for creditors to file claims (thus foreclosing any old or unpaid creditors from haunting heirs or beneficiaries) and for the distribution of the remainder of the estate’s property to ones’ rightful heirs.
