Probate and Trust Administration

Probate is the process of gathering and transferring a deceased person’s assets and resolving any claims/debts. It can be simple, or in “contested cases,” probate can be extremely time consuming and complicated. There are several different types of probates including formal administration, summary administration (for estates that do not exceed $75,000, or when the deceased passed away more than two years ago), and ancillary probates. Ancillaries can be formal or summary.

Trust administration is the process of helping a trustee comply with the trust terms and with Florida law.

Probate & Trust Administration: Expert Guidance Through Life’s Transitions

Navigating the legal landscape after the passing of a loved one can be incredibly challenging, both emotionally and logistically. At the Law Offices of Evan M. Rosen, P.A., we understand the complexities and sensitivities involved in Probate Administration and Trust Administration. Our dedicated team provides compassionate, efficient, and expert legal guidance to personal representatives, trustees, and beneficiaries, ensuring that the deceased’s final wishes are honored and assets are transferred as smoothly and compliantly as possible under Florida law.

We are here to simplify complicated processes, allowing you to focus on healing and family during a difficult time.

What is Probate Administration in Florida?

Probate is the court-supervised legal process of validating a deceased person’s will (if one exists), identifying and gathering their assets, paying their debts and taxes, and finally distributing the remaining assets to the rightful heirs or beneficiaries. This process is essential whether a person died with a will (testate) or without one (intestate).

Why is Probate Necessary?

Probate provides a formal mechanism to:

• Legally transfer title of assets from the deceased person to their heirs.
• Ensure all valid debts and claims against the estate are paid.
• Resolve any disputes among beneficiaries or heirs.
• Provide a definitive conclusion to the deceased’s financial affairs.

Types of Probate in Florida:

Florida law outlines different types of probate administration depending on the size and complexity of the estate:

• Formal Administration: This is the most common type of probate, typically used for larger estates or when there are disputes among beneficiaries. It involves multiple steps, court oversight, and can take several months to over a year to complete.
• Summary Administration: A streamlined process available for smaller estates (generally those with non-exempt assets valued at $75,000 or less, or when the decedent has been deceased for more than two years). It involves fewer court filings and can be completed more quickly.
• Disposition of Personal Property Without Administration: This is the simplest form, used only when the deceased left behind only exempt personal property (like household furnishings up to a certain value) or assets exclusively for funeral expenses and medical bills for the last sixty days of their final illness.

The Probate Process – A Simplified Overview:

While every estate is unique, the general steps in a Florida formal probate administration often include:

1. Filing the Petition: Initiating the probate case with the appropriate Florida Circuit Court.
2. Appointing a Personal Representative: The court formally appoints an individual (often named in the Will as the Executor) to manage the estate.
3. Notice to Creditors: Publishing notice to potential creditors, allowing them a specific time frame to file claims against the estate.
4. Identifying and Inventorying Assets: Locating, securing, and valuing all assets of the deceased.
5. Paying Debts and Taxes: Satisfying valid creditor claims, administration expenses, and any applicable estate or income taxes.
6. Distribution of Assets: Distributing the remaining assets to the beneficiaries according to the Will or Florida’s intestacy laws. This may also include seeking an order to determine homestead so that may pass outside of probate and free from creditor’s claims
7. Closing the Estate: Filing a final accounting and petition for discharge to formally close the probate case.

Common Challenges in Probate:

Probate can present various hurdles, including:

• Strict legal deadlines and procedural requirements.
• Disputes among heirs or beneficiaries, including will contests.
• Complicated asset discovery and valuation.
• Managing creditor claims and potential estate litigation.
• Unforeseen tax implications.

How Our Firm Helps with Probate Administration:

The Law Offices of Evan M. Rosen, P.A. provides comprehensive support to navigate the probate process, including:

• Determining the appropriate type of administration for your specific situation.
• Preparing and filing all necessary court documents.
• Guiding the personal representative through their fiduciary duties and responsibilities.
• Assisting with the identification, valuation, and transfer of assets.
• Managing communications with creditors and resolving claims.
• Representing clients in any probate litigation or disputes.
• Ensuring compliance with all Florida probate laws and minimizing unnecessary delays or expenses.

Understanding Trust Administration in Florida

Unlike probate, trust administration generally occurs outside of direct court supervision. When a person establishes a living trust, they transfer assets to be held in trust during their lifetime. Upon their death or incapacity, the designated successor trustee is responsible for managing and distributing those trust assets according to the instructions outlined in the trust agreement.

Benefits of Trust Administration (vs. Probate):

• Privacy: Trust details and assets are not typically part of public court records.
• Efficiency: Often a faster and less expensive process than probate.
• Control: Allows for specific instructions on how and when assets are distributed over time.
• Avoidance of Guardianship: Can manage assets in case of the grantor’s incapacity.

Role of the Successor Trustee:

Serving as a successor trustee comes with significant legal duties and responsibilities, often referred to as “fiduciary duties.” These include:

• Duty of Loyalty: Acting solely in the best interest of the trust and its beneficiaries.
• Duty of Prudence: Managing trust assets carefully and responsibly, as a prudent person would.
• Duty of Impartiality: Treating all beneficiaries fairly.
• Duty to Account: Keeping accurate records and providing regular accountings to beneficiaries.
• Duty to Administer According to Trust Terms: Strictly following the instructions set forth in the trust document.

Beneficiary Rights:

Beneficiaries of a trust also have specific rights under Florida law, including:

• The right to be informed about the trust’s existence and their interest in it.
• The right to receive regular accountings from the trustee.
• The right to distributions as specified in the trust document.

Common Issues in Trust Administration:

Even with a well-drafted trust, issues can arise, such as:

• Misunderstanding of trustee duties or trust terms.
• Disputes between the trustee and beneficiaries.
• Trustee mismanagement or alleged breach of fiduciary duty.
• Ambiguous or outdated trust language.
• Tax implications of trust distributions.

How Our Firm Helps with Trust Administration:

Our attorneys provide comprehensive legal support for both successor trustees and beneficiaries in trust administration matters:

• Advising trustees on their fiduciary duties and legal obligations.
• Assisting with the inventory, valuation, and management of trust assets.
• Preparing and ensuring accurate beneficiary accountings.
• Guiding the proper distribution of trust assets.
• Representing trustees or beneficiaries in disputes and trust litigation.
• Interpreting complex trust provisions.
• Assisting with necessary tax considerations in conjunction with tax professionals.

Why Choose the Law Offices of Evan M. Rosen, P.A.?

When facing probate or trust administration, you need a law firm that combines legal acumen with genuine empathy. At the Law Offices of Evan M. Rosen, P.A.:

• Florida Knowledge and Experience: We have significant knowledge and experience in Florida’s probate and trust laws and processes.
• Client-Centered Approach: We listen to your unique situation and provide tailored solutions with clear, compassionate communication.
• Efficiency: We strive to navigate these processes as smoothly and efficiently as possible, minimizing stress and delay.
• Skilled Dispute Resolution: We are prepared to advocate fiercely for your interests.
• Peace of Mind: Our goal is to handle the legal complexities so you can focus on your family.

Contact Us Today for Comprehensive Assistance

Whether you are a personal representative, a trustee, or a beneficiary, our team is ready to provide the professional guidance you need. Don’t face the complexities of probate or trust administration alone.

Contact the Law Offices of Evan M. Rosen, P.A. today to schedule a confidential consultation. We proudly serve clients in Hollywood, Florida, and throughout the entire state.

Our law firm is based in Broward County, and we help people throughout Florida with estate planning, mortgage foreclosure defense, real estate closings, probate and trust administration, and accidents and injuries. If you or someone you know needs help in any of those areas of law, contact us today. Let the Law Offices of Evan M. Rosen serve you!