When Does An Estate Qualify For Summary Administration?
In Florida, when a person passes away, their estate will need to go through the probate process. It is unavoidable; however, it will benefit you to understand the options available within the probate process that can help resolve it quickly.
At Swiren Law Firm, P.A., our over 50 years of experience resolving questions around formal and summary estate administration have been an asset to our clients. We know the area, we know the process and we know how to help you get through it efficiently and in the best position for the future.
The Basics Of Summary Administration
Summary administration is a streamlined process for estate administration. It allows an estate to move quickly according to either Florida estate law or the will of the deceased. This option is only available in two circumstances:
- When the estate assets total to less than 70 thousand dollars
Or
- Two years have passed since the deceased passed on
The speed of this process reflects the relative lack of complexity of an estate or to help mitigate further time delays. It is faster and more cost-effective, but there are limitations to when it is available.
Formal Administration
If summary administration is not available, the next step is beginning a formal administration. In a formal administration, all debts are collected, and administration costs are resolved before distribution. A judge selects a personal representative who makes many of the decisions associated with the estate.
On the surface it reads similarly to a summary administration; however, formal administration takes longer from the beginning to the end and can be costly.
Get An Experienced Guide
Our experience in resolving questions about estate administration is what clients value most about us. We work with you to develop a plan that makes the most sense for you. Contact us today by email or by calling 407-287-5137 or toll free 877-806-7949. One of our lawyers will meet with you in a free consultation at our Orlando office.
