Disclaimer: This article provides general information and does not constitute legal advice. Always consult a qualified attorney for advice on your specific situation.
Detailed Answer
- Open the Estate: File a petition for administration in the circuit court of the decedent’s county of residence. The court appoints a personal representative (formerly called executor). See Fla. Stat. § 733.201.
- Locate Assets: Identify bank accounts, investments, retirement plans, real estate (check the county property appraiser website), safe deposit boxes, personal property and digital assets. Contact financial institutions and review mail and email.
- Notice to Creditors: Mail a notice to all known creditors and publish a notice in a local newspaper to alert unknown creditors. This starts the statutory claims period. See Fla. Stat. § 733.212.
- Inventory and Appraisal: Within 60 days after appointment, file an inventory of assets and their fair market values with the court. Include copies of appraisal reports if required. See Fla. Stat. § 733.604.
- Review and Pay Debts: Evaluate creditor claims for validity. Pay reasonable funeral expenses, administration costs and priority claims before other debts. Use estate funds; confirm that no valid claims remain. See Fla. Stat. § 733.608.
- Petition for Distribution: After debts and taxes clear and the claims period expires, prepare a final accounting. File a petition for distribution of the remaining assets to beneficiaries under the will or Florida’s intestacy rules. See Fla. Stat. § 733.617.
- Close the Estate: Once the court approves distribution, file a petition for discharge. Surrender the personal representative bond, if applicable. This officially ends the administration. See Fla. Stat. § 733.707.
Helpful Hints
- Organize documents chronologically. Keep originals in a secure folder.
- Maintain detailed ledgers of all receipts and disbursements.
- Use a probate checklist to track deadlines and filings.
- Verify creditor claims before payment to avoid overpaying.
- Consult a probate attorney if the estate includes complex assets or disputes.