Is There a Deadline for Creditors to Submit Claims in Probate?
Video Summary
Is there a deadline for creditors to submit their claims in probate? Yes, there is. The executor, once they’re appointed by the court and issued letters of administration, their lawyer sends out a notice to credit to any reasonably ascertainable creditor. That gives the creditor three months in which to file their claims in the estate. If they don’t do that after receiving this notice, then their claims will be barred. If the notice is not sent or a creditor does not receive notice, they have up to two years before their claim is barred. There is a time limitation and a procedure or process to give notice to creditors to file their claims or else they will be barred. If you have any questions, give me a call at 727-847-2288.
Are Probate Court Records Public and How Can I Keep My Estate Details Private?
Video Summary
Are probate court records public and how can I keep my estate details private? Yes, probate proceedings are public record. One of the things that is not public record in a probate proceeding is the inventory, so no one can find out what’s in the estate other than the attorneys who represent the personal representative or represent a particular beneficiary. So if that’s the detail you’re concerned about, it is not public record. If you want to keep all the details of your estate private as to who receives it, as well as the assets, you should consider putting your assets in a Trust and executing a Trust document and that way they will not be public records. If you have any questions, give me a call at 727-847-2288.
Probate vs Trust Administration – What’s the Difference in Settling an Estate?
Video Summary
Probate vs Trust administration. What is the difference in settling an estate? Well, let’s define what a probate proceeding is. It is a court proceeding whereby a Will is admitted to probate and which is public record and notice is given to all the beneficiaries. A notice to creditors is sent out for all the creditors to file their claims, and then you go about settling the estate by paying the creditors and making distribution of the estate assets. So that can be accomplished in probably three to six months. If it’s a relatively simple estate, it should be done within one year as far as an estate administration. As far as settling the estate, if all the beneficiaries are in agreement and all the creditors have been paid, you can have all the beneficiaries sign a waiver in consent to the closure of the estate and waive any accountings and agree to the discharge of the personal representative and the estate being closed. With an estate administration, the Trustee undertakes to see that the creditors are paid, files a notice of Trust, and then undertakes to distribute the assets and pay the claims. You don’t have to go to court for any of this and all of this is not in the public records. So that’s the difference between the two as far as settling your estate. If you have any questions, give me a call at 727-847-2288.
How Can I Minimize the Chances of My Will Being Contested After My Death?
Video Summary
How can I minimize the chances of my will being contested after my death? Well, the first thing that you should do is to have an attorney prepare the will and have him be the witness, and that anytime that there’s a will challenge, he would be the best witness to testify. As far as your competency, the basis for setting aside your will is that you did not have the mental capacity to make a will, so certainly the lawyer would make that determination. The other one is undue influence. So if you want to leave most of your estate to one of your children and exclude some of the other or make a disproportionate share, then there’s a couple of things that you need to try and do if possible, and that there’s a presumption of undue influence. If the person who that you’re leaving these disproportionate share or all of your estate to them, whether it be a child or anyone else is, did they select the attorney that they take you to the attorney’s office? Were they present whenever you made out the will? Did they know what you put in the will after you have the will? Were they present whenever you signed the will? Did they know the contents of the will? And also as far as paying for it? So,if some of these factors are present, it presents a undue influence. So, if possible, not to have the person select the lawyer or take you to the appointment or know what’s in the will, I realize many times that’s not possible and that you’re dependent on the caregiver or child who’s taking care of you to bring you to the appointment. And so I have over the years tried to do this as tactfully as possible, as tell the person that you’re going to be living and that’s brought you there as they need to excuse themselves, wait in the waiting room, and I make a notation in my notes that I’ve excused them. And then discuss who you want to receive your estate and why you want to do that. In order to try and overcome these problems. In the event there is a will challenge after you’re gone. Also, you need to put in the will. If you’re leaving someone out, a child out, you need to just put in there expressly, make no provision for a particular child to show that you did not forget them. The old thing is leaving my dollar is a terrible idea and that you tasked the lawyer with having to, or the executor, trying to get them to receive for a dollar, particularly if they don’t like the provisions of the will. So just put in there that you didn’t forget about ’em. You expressly make no provision for them. If you have any questions, give me a call at (727) 847-2288.
What Happens When Parents Pass Away Without a Will?
Video Summary
What happens when parents pass away without a Will? Well, whenever someone passes away without a Will, the Florida statutes designate who is to receive the assets or who the beneficiaries are. Since you’re using parents, I assume that they are married, and so you would record death certificates for both of those. Then you would look at the last parent who passed away and determine who the children are of that decedent, and based upon that, they’re the ones who would inherit his estate, his or her estate under the Florida statutes and the event that the decedent had no children, then the beneficiaries are his parents. If his parents had predeceased them, then it goes to his siblings and their siblings children. If any of them have predeceased them, this is, if you have any questions about it, give me a call at (727) 847-2288.