Video Summary
Is probate, Florida administration always required? No, it’s not required. Whenever someone passes away, the first matter that you would have to determine as to whether or not you have to probate someone’s estate is whether or not they have any title assets or just in their name alone. So that they’re not jointly held with someone, or they don’t have a designated beneficiary. Many accounts are set up with a payable on death, on your bank account. So those would not have to be probated. Certainly joint accounts would not have to be probated, securities or brokerage accounts that have a transfer on death would not have to be probated life insurance with a beneficiary, doesn’t have to be probated, IRAs and annuities, they all have beneficiaries. So, none of those have to be probated. Also, if the automobiles are going to children or there’s no will, the children can have an automobile to automobiles transferred in their name because they’re considered an exempt asset by going to the property appraiser’s office, excuse me, the tax collector’s office, who is an agent for the department of motor vehicles and have the vehicle titles transferred into their name.
So, a probate administration not necessary unless there are assets that are just titled in the deceit’s name. If you have any questions about this, Give me a call at (727) 847-2288.