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How can I prepare my estate for summary administration?

On Behalf of | Jun 23, 2023 | Probate | 0 comments

It is natural to worry about providing for your family after you die. Even if your estate does not contain a lot of wealth, it still can help your loved ones and give them some closure. The good news is that Florida allows for quicker ways to carry out probate, such as summary administration.

This form of probate may speed up the inheritance of your estate to your loved ones. However, not all estates are eligible for summary administration. Per state law, here are some steps which could prepare your estate for this form of probate.

Check the value of your estate

Florida grants summary administration for small estates, so your estate will not qualify if its value is too high. The threshold for a qualifying estate is no more than $75,000, minus the value of any property that creditors cannot claim.

Write a will

Summary administration is available to intestate estates if the decedent has been dead for at least two years. Writing out a will, however, can speed up the process. As with any will, your document must be valid according to state law.

Settle debts

Before a court can approve probate for your estate, the person petitioning the court for summary administration must try to contact creditors and settle debts owed by the estate. Making sure that your estate owes as little as possible could help prevent delays caused by creditor claims. It can also enable a judge to enter an order allowing your heirs to take possession of your property.

Proper planning can often be the key to speeding up probate. You should not have to worry that your family will wait a long time to take ownership of your property.