If you need to know more about the basics of Probate, please read this blog first.
Step 1: The Personal Representative Meets with the Probate Attorney.
The individual appointed in the person’s Last Will and Testament (What is that?) to be the Personal Representative for the estate will have an initial meeting with the probate lawyer to discuss the Probate process, the contents of the Will, the named beneficiaries, potential creditor claims, assets of the estate, and so much more. At this meeting, the client will bring with them certain documents that are needed to begin Probate. ie., Decedent’s Last Will and Testament, death certificate, real property deeds, bank statements, credit card statements, life insurance policies, and other important documents. If you are interested in reading about how to avoid probate, please read this blog post.
Step 2: File the Court Initial Documents with the Probate Court.
The case begins when the first documents are filed with the court such as Petition for Administration, the Original Last Will and Testament, the Oath of the Personal Representative, and a several other important documents. If you are interested in reading more about what a Last Will and Testament is, please read this blog post.
Step 3: Notify the Beneficiaries.
After filing the initial court documents, the Personal Representative must notify the surviving spouse, beneficiaries of the estate, the trustee and the beneficiaries of any estate trust, and anyone else who may receive an inheritance from the estate that the administration (More on Probate Administration) of the estate has begun.
Step 4: Obtain the Letters of Administration from the Court.
Once the judge grants the Letters of Administration, the Personal Representative now has the authority to act on the behalf of the estate. The Personal Representative will be able to open the estate bank account, which will serve as a depository to hold estate assets for safekeeping.
Step 5: Notify the Creditors.
Notice to Estate Creditors are published in the local newspaper and filed with the Probate Court, which essentially gives Creditors 90-days to file a claim against the estate for any debts owed. The Personal Representative will then be able to object to claims deemed invalid or satisfy any valid claims.
Step 6: Deposit Estate Assets into the Depository.
The Personal Representative will liquidate most estate assets without leave further leave of court and then place the assets and/or proceeds in the estate account.
Step 7: Pay Final Estate Taxes.
The Personal Representative will file the final tax return for the decedent and resolve any tax issues at this time. ie., pay estate taxes, if applicable.
Step 8: Final Estate Accounting Statement.
A Final Estate Accounting Statement is prepared and served onto the beneficiaries. The statement will include all estate assets, distributions made, probate costs, and anything else affecting the assets of the estate.
Step 9: Distribute the Assets.
A Plan of Distribution is prepared and filed with the court for approval before distributing the estate assets to the beneficiaries. Once the Plan is approved, the assets are distributed, according to the Will.
Step 10: Discharge the Personal Representative and Close the Estate.
The Probate Court discharges the Personal Representative from his or her duties and closes the estate. The case is officially closed.
What do I do if I Need More Information or Need to Speak to a Probate Lawyer?
If you are interested in having an initial consultation to discuss your probate matter, please give us a call (anytime 24/7) at 813-897-0295 and speak to Attorney Gadiel Espinoza. We serve Pasco, Hillsborough, Pinellas, Polk and counties throughout the State of Florida.
