When a loved one passes away in Florida, their estate may need to go through probate. Summary administration is a more efficient and cost-effective option for smaller estates. It is a streamlined probate process that can save families time and money. If you’re facing probate, especially in the context of Florida’s unique probate and real estate laws, it’s essential to understand how summary administration works and whether it may be right for your case.
This blog post will cover:
- What is summary administration in Florida?
- Who qualifies for summary administration?
- The benefits of summary administration.
- The steps involved in the summary administration process.
- When summary administration is not appropriate.
- FAQs about Florida summary administration.
What is Summary Administration in Florida?
Summary administration is a simplified probate process in Florida for estates that meet certain requirements and is ideal for smaller estates.
While the formal Florida probate process can take several months or years, summary administration can often be completed in a matter of a few months. This option is great for families who want to avoid the prolonged probate process, which may involve extensive court oversight, multiple filings, and higher attorney fees.
Who Qualifies for Summary Administration?
To qualify for summary administration in Florida, one of the two following requirements must be met:
- The value of the decedent’s estate, excluding exempt property (like homestead real estate), is $75,000 or less; OR
- The decedent passed away more than two years ago.
It’s important to note that summary administration is not always the best choice for every estate, and certain complications—such as creditor claims or disputes over the Last Will & Testament—can make the formal probate process more appropriate, so be sure to consult with a qualified attorney to determine your best options.
The Benefits of Summary Administration
There are several advantages to opting for summary administration over formal probate, especially when time and finances are a concern.
1. Faster Process
Formal probate can take six months to a year (or even longer), depending on the complexity of the estate. Summary administration, on the other hand, can be completed in a matter of weeks—typically between six and eight weeks from the date the petition is filed, provided you submit all of the necessary documents in a timely manner and there is little or no creditor claims to resolve.
2. Lower Costs
Summary administration typically involves fewer legal fees because the process is shorter and less complex. This is especially important for smaller estates, where probate fees might otherwise consume a large portion of the assets.
3. Reduced Court Oversight
Formal probate often involves continuous court oversight, requiring multiple filings, hearings, and judicial involvement. Summary administration reduces the need for such extensive court involvement, which can make the process more efficient and less stressful for the heirs.
4. Easier Access to Assets
Since the probate process is expedited, heirs can access their inheritance more quickly. This can be especially beneficial when dealing with assets like real estate, which is expensive to maintain and may otherwise remain tied up in probate for months.
Steps in the Summary Administration Process
While summary administration is simpler than formal probate, it still requires attention to detail and adherence to Florida law, making it all the more important to consult with an experienced Florida summary administration attorney before proceeding.
Below are the general steps involved:
1. Filing the Petition
The process begins with filing a Petition for Summary Administration with the probate court in the county where the decedent resided at the time of death. This petition must include details about the decedent’s assets, debts, and the beneficiaries.
2. Submitting the Will
If the decedent left a Last Will and Testament, the original must be submitted to the probate court; otherwise, additional steps must be taken to prove the Will.
3. Notifying Beneficiaries and Creditors
While summary administration simplifies the probate process, beneficiaries and potential creditors still need to be notified. Creditors are given an opportunity to make claims against the estate if the decedent passed away within the last two years.
4. Court Approval
If there are no objections from beneficiaries or creditors, and all required documents have been submitted, the court will issue an order approving the Petition for Summary Administration.
5. Distributing Assets
Once the court order is issued, the decedent’s assets can be distributed to the beneficiaries. If there are any outstanding debts that are not barred, they must be paid before the remaining assets are distributed.
When is Summary Administration Not Appropriate?
While summary administration offers many benefits, it’s not always the best solution. Here are some instances when it may not be appropriate:
- Complex Estate Issues: If the estate involves multiple properties, ongoing legal disputes, or complex financial holdings, formal administration may be more appropriate.
- Unknown or Disputed Creditors: If there are several creditor claims to resolve, the extended process of formal administration may be necessary to resolve these claims.
- Disputes Among Beneficiaries: Family disputes over the distribution of assets can complicate even the simplest of estates. In these cases, formal probate may provide a more structured and court-supervised resolution.
Frequently Asked Questions about Summary Administration in Florida
1. How long does summary administration take?
Summary administration usually takes about six to eight weeks once all documents are filed and if no objections are raised by creditors or beneficiaries.
2. Can creditors still make claims during summary administration?
Yes, if the decedent passed away within the last two years, creditors may file claims against the estate. However, once two years have passed, unsecured creditors are barred from making claims. Also, if the assets of the estate involve homestead property or other exempt assets, unsecured creditors cannot collect against them.
3. Is summary administration less expensive than a formal probate?
Yes, because it involves fewer legal steps and less court involvement, summary administration typically costs less than formal probate.
4. Can I choose summary administration even if the estate is larger than $75,000?
Yes, if the decedent has been deceased for more than two years, summary administration may still be an option, even if the estate value exceeds $75,000.
Find Out if Summary Administration is Right For You
Summary administration is a valuable probate tool for families dealing with smaller estates or estates where the decedent passed away more than two years ago. It simplifies the probate process, offering a faster, more cost-effective solution compared to formal probate. However, it’s not right for every estate. Consulting an experienced Florida probate attorney is crucial to determining the best course of action for your unique situation.
At Farshchian Law, our team is dedicated to helping families navigate the complexities of probate law in Florida. Whether you’re considering summary administration or need guidance on formal probate, we’re here to support you every step of the way. Schedule a free consultation with an experienced Florida probate lawyer by calling (855) 513-5880 or emailing us via our secure online contact form. We provide real estate, probate and title/closing services throughout the State of Florida.