The top two questions we hear about probate and trust administration are:
- What's probate?
- What's a trust?
There's a lot to understand. The paperwork for probate (the process of validating a will) is complicated and forbidding, and it usually takes three to six months. Courts receive an armload of petitions for probate every single day. The process is designed to see that the decedent's creditors are paid before the heirs.
In the probate process, a judge supervises everything. If the paperwork is not done properly, the process can be delayed for months. Having an attorney do this for you is your only real option in Florida.
3 Types of Probate Administration in Florida
Summary: This is for small family estates, in which the decedent has been dead at least two years.
Ancillary: This is necessary when an out-of-state resident leaves behind real or personal property here in Florida.
Formal: Formal probate is the commonest kind of probate. It's any estate that does not qualify as either summary or ancillary.
Melbourne Trust Administration Lawyer
Trusts are the modern-day version of estate planning. They are somewhat like a corporation, as they are never incapacitated and never die.
Trust administration consists of three primary tasks: paying debts, paying taxes and distributing the remainder to beneficiaries.
Tom D. Waldron has been involved in probate and trust administration for almost 20 years. We see that all statutes are complied with. We get copies of the will to all interested parties. We collect and protect all assets. We give an account to the beneficiaries of all assets and liabilities.
Seeking Closure for Families
Throughout all this, our emphasis is on closure for the families. Probate and trust administration both occur during a turbulent period. Nothing has the potential to tear a family apart like the division of an estate. Family misbehavior such as estate looting is not uncommon. The presence of an impartial administrator to inform people of their rights and responsibilities is paramount. We often suggest, for instance, that the locks to the house of the decedent be changed.
Want to learn more about the power of trusts to guide your estate planning? Call Melbourne probate lawyer Tom D. Waldron today at 321-473-7392 or 888-851-8508 (toll free), or e-mail him with a description of your estate problem.
