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The formal probate administration usually takes 6-9 months under most circumstances - start to finish. This process includes appointing a personal representative (i.e., the "executor"), a 90 days creditor's period that must run, payment of creditor's claims and more.
When a person dies intestate (without a will), a petition for administration of the estate is filed, and the probate court appoints a qualified person to serve as the "personal representative" to administer the estate. Preferences in appointment of the personal representative are governed by §733.301(1)(b), Fla.
Yes. A personal representative can also be a named beneficiary in the decedent's will. For example, in a family with four siblings, one of the siblings or even the spouse may act as a personal representative. There is no law against it as long as the individual is mentally and physically fit to perform the duties.
Any interested person may petition to administer the estate of a missing person; however, no personal representative shall be appointed until the court determines the missing person is dead.
The personal representative can be an individual or a bank or trust company, subject to certain restrictions. To qualify to serve as a personal representative, an individual must be either a Florida resident or, regardless of residence, a spouse, sibling, parent, child, or other close relative of the decedent.
When making a will, people often ask whether an executor can also be a beneficiary. The answer is yes, it's perfectly normal (and perfectly legal) to name the same person as an executor and a beneficiary in your will.
The formal probate administration usually takes 6-9 months under most circumstances - start to finish. This process includes appointing a personal representative (i.e., the "executor"), a 90 days creditor's period that must run, payment of creditor's claims and more.
If everything is in order, the probate judge issues letters of administration appointing the personal representative to act on behalf of the estate....This requires several steps:Petition the court to open the estate.File proof of decedent's death.File oath of office.Designate resident agent.Furnish bond.More items...