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A Summary Administration is really for small estates that do not have any creditors, and for estates that are less than $75,000. If the decedent has existing creditors or is likely to have creditors, then the Summary Administration will likely not be the best probate option.
Probate assets include, but are not limited to, the following: A bank account or investment account in the sole name of a decedent. A life insurance policy, annuity contract, or individual retirement account payable to the decedent's estate.
What Assets Avoid Probate in Florida? Revocable Trusts. ... Designated Beneficiaries. ... Transfer on Death Accounts. ... Joint Retirement Accounts. ... Tenancy By Entireties. ... Florida Homestead. ... Furniture and Appliances. ... Vehicles.
Here are the general steps you'll need to take to complete the Florida probate process: Submit the will. ... File for probate. ... Receive authorization from the court. ... Contact beneficiaries. ... Inventory assets. ... Pay debts. ... Request approval to distribute assets. ... Close the estate.