The Tallahassee Florida Summary Administration Package — Small Estate— - Under 75,000 is a legal service designed to assist individuals in navigating the process of settling small estates in Tallahassee, Florida. This package is particularly beneficial for estates valued at under $75,000. The summary administration process offers a simplified and expedited procedure for addressing small estates. It eliminates the need for a full probate administration, which can be time-consuming and costly. The Tallahassee Florida Summary Administration Package streamlines the entire process, ensuring that it adheres to the specific laws and regulations of Florida. Types of Tallahassee Florida Summary Administration Packages for Small Estates — Under 75,000 may include: 1. Basic Summary Administration Package: This package covers the fundamental services required for handling small estates, including document preparation, legal filing, and guidance throughout the entire process. 2. Estate Valuation and Asset Assessment Package: For individuals who require assistance with accurately valuing assets and assessing estate value, this package includes professional estimation services to determine if the estate is eligible for the summary administration process. 3. Documentation and Legal Assistance Package: This package caters to individuals who need comprehensive support in preparing all necessary documents, filing them correctly, and ensuring compliance with Florida's legal requirements. 4. Creditor Claims Management Package: For estates with outstanding debts, this package offers assistance in managing creditor claims, negotiating settlements, and ensuring that the estate's funds are distributed appropriately. 5. Estate Administration and Distribution Package: This comprehensive package covers every aspect of summary administration, including the valuation of assets, document preparation, filing, creditor claims management, and the final distribution of assets to beneficiaries. 6. Real Estate Representation Package: This package is suitable for estates that include significant real estate holdings. It provides legal representation for any real estate matters pertaining to the summary administration process. Each package is tailored to meet the specific needs and circumstances of individuals dealing with small estates valued under $75,000 in Tallahassee, Florida. By utilizing these packages, individuals gain access to professional guidance, ensuring a smooth and efficient resolution of their loved one's estate.
Tallahassee Florida Summary Administration Package - Small Estates - Under $75,000
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How to fill out Florida Summary Administration Package - Small Estates - Under $75,000?
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FAQ
Florida law does not require the person who requests a summary administration of a Florida estate to have a lawyer. The interested person can go down to the courthouse and file the request for the summary administration without any attorney.
Qualification for Summary Administration The estate contains less than $75,000 of nonexempt assets, or. More than two years have passed since the date of death.
Formal administration is the more involved variety of Florida probate. Formal administration is required for any estate with non-exempt assets valued at over $75,000 when a decedent died less than two years ago.
Summary Administration in Florida is a simplified probate process used to provide efficiency in small estates and when the person has been dead for over two years and all creditors of the deceased are barred.
In Florida the fees for a Summary Administration vary but will typically range from $1,500.00 to $3,500.00 depending on the nature of the assets, creditor claims, the number of beneficiaries and any complexities associated with getting the Last Will and Testament admitted to Probate Court in Florida.
According to Section 735.201 of the Florida Statutes, summary administration in Florida can be done if the person has been deceased for over two years or if the assets are less than $75,000. If the person has been dead for over two years then there is no cap in the amount of assets of the administration.
Once you have everyone's consent, once the summary petition to the court is submitted, the order of summary administration generally takes about 2-3 weeks (depending upon the county) to get back from the court. The order of summary administration will give the heirs access to the assets subject to the court order.
In some situations, professionals need to be hired to perform some services for the formal administration. These include tax accountants and realtors. All in all you are probably looking to spend anywhere from $600-$1000 dollars in a formal administration that is uncontested and no major issues arise.
Unfortunately, Florida does not have a small estate affidavit process, with one exception, which means the family will more than likely need to consult a probate attorney to help gain control of the assets.