More Estates Will Be Eligible For Summary Probate

Probate is the process by which a decedent’s assets and debts are handed down to the decedent’s chosen beneficiaries. It can sometimes be a time-consuming process, but sometimes, smaller estates can go through what is known as summary probate. Historically, summary probate, also called summary administration, required that the value of the estate be less than $75,000, or that the decedent had already been gone for at least two years. A recent law was passed to make changes to the process.

Expanded Limits

While the process is still permissible to use with estates of any size where the decedent has been gone for two or more years, the new change is in the monetary limit. Historically the limit for summary administration had been less than $75,000. The revised statute, which will take effect on July 1, 2026, allows estates to use summary probate on estates worth up to $150,000. This means that most estates of this size can use a less formal form of probate, which often takes a much shorter time to process.

The advantages to this are immediate: $150,000 is a number that is much more in line with cost of living estimates in Florida today, and if you or a loved one is able to handle a person’s estate in a timely manner, the state does not need to interfere in ways like appointing a personal representative. However, there are certain situations in which using the old-fashioned, formal probate process may serve your family and friends’ needs better.

Sometimes Formal Is Still Better

Even if the estate of your friend or loved one is not valued over $150,000, there are times when the formal process is better for a specific case – either to get the proceedings on record, in case of challenges, or if the person has extensive holdings outside Florida. The formal probate process produces more documentation, as one might imagine, and that can be a boon in many different situations.

There are some cases in which a dedicated team of family members may be able to effect the change they want to see, but for this type of legal proceeding, rife with technicalities and details easily missed, it is generally best to hire an attorney. The stakes are too high for the probate process to be mismanaged, particularly if it means the process drags on and on.

Contact A Hollywood, FL Probate Attorney

If your or your loved one’s estate fits the criteria for summary administration, going through with it can be a great advantage for the beneficiaries – but it is not a one-size-fits-all solution. A Hollywood, FL probate attorney from The Law Offices Of Steven A. Mason, P.A. can help answer your questions about your case, or about the probate system in general. Contact our office today to speak to an attorney.

Source:

flsenate.gov/Laws/Statutes/2012/735.201