Even the most carefully planned estate can require probate, and when significant wealth is involved, the process must be handled precisely. Florida probate is governed by Chapters 731 through 735 of the Florida Statutes. We guide personal representatives and beneficiaries of high-value estates through administration, protecting the estate’s assets, satisfying creditors properly, and distributing wealth to heirs efficiently and in compliance with Florida law.
When Probate Is Required
Probate is necessary to transfer assets titled in the decedent’s name alone without a beneficiary designation or survivorship feature. Assets in a funded revocable trust, accounts payable on death, jointly held property, and property transferred by a Lady Bird deed generally avoid probate. For affluent estates, the goal during life is to minimize probate assets; when probate is unavoidable, our goal is to administer it cleanly.
Summary Administration
Florida offers a streamlined path called summary administration. It is available when the value of the estate’s non-exempt assets does not exceed $75,000, or when the decedent died more than two years ago. Summary administration is faster and less expensive because it does not require appointment of a personal representative. For larger estates that do not qualify, formal administration is required.
Formal Administration
Most substantial estates proceed through formal administration. The court appoints a personal representative, who receives letters of administration authorizing them to act. The representative gathers and values assets, provides notice to creditors, pays valid claims and taxes, and distributes the remainder to beneficiaries. High-value estates often involve illiquid assets, closely held businesses, and out-of-state property, all of which add complexity we are equipped to manage.
Homestead and Exempt Property
Florida’s homestead protection continues after death. Homestead property is generally protected from the decedent’s creditors and passes outside the probate estate to qualifying heirs, subject to constitutional restrictions on devise. Certain personal property is also exempt. Correctly classifying homestead and exempt assets is critical and frequently litigated in larger estates.
Creditor Claims and the Elective Share
The personal representative must follow Florida’s creditor notice and claims procedures; mishandling them can create personal liability. A surviving spouse may also assert an elective share under section 732.2065, claiming a statutory percentage of the elective estate. We advise representatives on these obligations and represent spouses asserting their rights.
Speak With a Fort Lauderdale Probate Attorney
Administering a high-value Florida estate demands diligence and precision. Contact our office for guidance through summary or formal administration.
This page is general information, not legal advice. Probate outcomes depend on the specific estate. Consult a licensed Florida attorney before acting as a personal representative or asserting estate rights.
For more on our Florida practice, see our overview of estate planning in Boca Raton. Morgan Legal Group's affiliated New York office also handles how a will is contested in New York.
