WORKING WITH PROBATE

Dated: 06/29/2019

Views: 155

IS FLORIDA A Uniform Probate Code (UPC) STATE Yes Florida is one of the  only sixteen states: Alaska, Arizona, Colorado, Florida, Hawaii, Idaho, Maine, Michigan, Minnesota, Montana, Nebraska, New Mexico, North Dakota, South Carolina, South Dakota, and Utah.

Probate is the court-supervised process of gathering a deceased person's assets and distributing them to creditors and inheritors. As an executor, your probate process will depend on whether your state has adopted the Uniform Probate Code (UPC), which is a set of probate laws written by a group of national experts. The UPC's goal is to make the probate process simpler, especially for small estates, and to give executors more flexibility in how they proceed.

Getting Started:

To begin the probate process you will need to  asking the court to officially make you executor. (To learn more about whether to serve as executor, see Its a big responsible If you end up acting as executor, you'll need to start with:

  • You must File proof that you properly published and mailed the notice.

  • Next Publish a notice of the probate in local newspaper according to court rules. Mail notices to creditors you know about.

  • Don't for get to Mail the notice to beneficiaries and heirs, as required by the court.

  • Make sure to File other documents required by the court contact the court to find out what will be needed.

  • Post a bond (if required by the court), which protects the estate from any losses you cause (up to a certain dollar amount). The amount of the bond depends on the size of the estate.

  • File a request (called a petition or application) for probate in the county in which the deceased person was living at the time of death. You will also need to file the death certificate and the original will (if there is one) with the court.

  • Prove the will's validity by providing statements from one or more witnesses to the will. This is often done by submitting the "self-proving affidavit" that was signed by the witness in front of a notary at the time the will was signed.

  • It can be a complicated process make sure to hire an attorney to help with the process.

ESTATE MUST BE CLOSED BEFORE YOU CAN DISTRIBUTE REMAINING PROPERTY

 

When the creditor's claim period has passed, you've paid debts and filed all necessary tax returns, and any disputes have been settled, you're ready to distribute all remaining property to the beneficiaries. You'll need to:

HOW TO CLOSE OUT A PROBATE

  • You will need to Mail a notice to heirs and beneficiaries that the final hearing is coming up. (This must be done a certain period of time before the hearing; the court will have a rule.)

  • You must File proof that you mailed the notice as required.

  • It's time to Get the court's permission to distribute property.

  • Time to Transfer assets to the new owners and get receipts.

  • Once you distribute assets and all matters are concluded, file receipts and ask the court to release you from your duties.

    DON'T FOR GET TO:

LAST : After you have distributed the property, you can close the estate informally by preparing and filing a "final accounting" with the court. Finally, you'll file a "closing statement," stating that you have paid all debts and taxes, distributed the property, and submitted the final accounting.

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