How Can I Simplify Probate?
Video Summary
How can I simplify probate in Florida? Well, the best way to do it is to do estate planning and to avoid probate entirely, and that can be done on how you title your assets and designate beneficiaries. As far as your assets are concerned, the probate is the legal term, which refers to the legal process involved when someone passes away to have their assets transferred to the appropriate beneficiaries under a Will or if they don’t have a Will under the Florida statutes. That also is to protect the creditors, so the creditors can be paid. There are several forms of probate and there’s that depending on whether or not there’s creditors, and also depending on the value of the estate as to whether or not those can be utilized. But the best way to simplify probate is to avoid it entirely, which can be done through estate planning. If you have any questions, give me a call at (727) 847-2288.
What Happens if Someone Doesn’t Claim Their Inheritance?
Video Summary
What happens if someone doesn’t claim their inheritance? Well, if it’s a stocks or money and bank accounts, anything such as that, then after a certain period of time, the company turns the property over to the state of Florida and it’s held in an account for unclaimed property under the person’s name who’s entitled to it, and I think it’s called the Treasure Hunt, but I’m not a 100% sure. But if it’s with that, if you Google Unclaimed Property Secretary of State of Florida, you’ll go to the website and list all the various names that their property there, and there’s any number of companies that try and contact folks to see about getting that for you for a fee. If it’s real property and they don’t ever take charge of it or receive it or have it probated and put in their name, then it is usually just lost for taxes. And so,after a certain number of years, the tax is not being paid, then it’ll be sold on a tax deed sale. That’s what happens if you don’t collect your inheritance. If you have any questions, give me a call at (727) 847-2288.
What is a Probate Dispute Defined As?
Video Summary
What is a probate dispute defined as? It’s usually a Will contest where someone contests the validity of a Will. It can also involve the payment of creditor’s claims, the inventory, the administration of the estate by the personal representative. So, it is whenever there’s litigation involved as far as the administration of the decedent’s estate. If you have any questions, give me a call at (727) 847-2288.
Can I Be Sued for My Inheritance?
Video Summary
Can I be sued for my inheritance? Once the Estate or Trust is distributed to you, well then in that event you can credit it’s your property and yes, they can sue you as far as that’s concerned. Of course, until such time as your inheritance is distributed to you, it’s going to be controlled by the provisions of a Trust that may have a provision that protects your assets or your inheritance. If you’re receiving it through a Will, they can possibly garnish that if any creditors are involved and you have debts involved, so depending on when you receive your inheritance is whether or not someone can sue you for the money that you inherit. If you have any questions, give me a call at (727) 847-2288.
How Are Creditors Handled in Probate?
Video Summary
How creditors handled in a probate estate? Whenever probate, whenever an estate is being probated, the personal representative files a notice in the newspaper called a Notice to creditors, who starts a creditor’s period of running for a period of three months. Personal representative also responsible for sending out the notice to creditors to any reasonably ascertainable creditor, and that is an obligation of the personal representative and needs to do somewhat of a search to determine who the creditors are. The creditors then have to file their claim within three months of the date of the notice to creditors. If a creditor files a claim after the three month period and has not received the notice to creditors, you give them notice and then they have 30 days in which to expand the time in order to be able to file their claims. All claims are barred after a two year period, so if the decedent died more than two years ago, then there are no claims that can be filed or all the claims are barred. Also, there’s special provisions as far as sending a notice to the state of Florida in the event the person was receiving Medicaid received death certificate. Call me at (727) 847-2288.
- Published in Estate Planning, Probate, Videos