Tag: personal-representative
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Who owns the contents of a safe deposit box when someone passes away in Florida?
The determination of ownership for the contents of a safe deposit box when an individual dies in Florida is challenging due to the authority granted to the personal representative of the estate over the decedent’s assets subject to probate. However, the ownership of the estate beneficiaries is established as of the date of death subject…
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Who can be appointed as a Personal Representative?
The personal representative is the individual, financial institution, or trust company designated by the court to manage the matters of a deceased person’s estate in Florida. The outdated titles of administrator and executor are no longer employed in Florida.
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Who Appoints the Personal Representative in Florida Probate?
The probate court appoints the personal representative whether the deceased died with a will or without one. Legal professionals often refer to this individual as the PR. The testator’s will should name a financial institution or a trusted resident of Florida as the personal representative and trustee, and it should list several alternates to serve…
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What is a Testate Estate?
If a [state] resident dies with a will, he or she has died testate. The will names the personal representative and beneficiaries of the estate. Making a will is the means by which an individual determines the beneficiaries who will inherit his or her property at death and the personal representative who will be responsible…
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What Happens in an Estate When Someone Dies Without a Will?
If a resident of Florida passes away without a will, then they are said to have an intestate estate. Since there is no will, the Florida Probate Code determines who will receive the assets of the deceased’s estate through probate, as well as who will be given priority in appointment as the personal representative, instead…
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How does the process of starting a probate estate without a valid will in Florida begin?
In Florida, an intestate estate is initiated when the beneficiaries or creditors request the designation of a personal representative by submitting a petition for administration to the probate court. Given that probate is a legal procedure, it is advisable to seek assistance from an attorney to initiate the intestate probate proceeding.
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Who Serves as Personal Representative Of a Florida Probate Estate If There Is No Will?
What Happens in an Estate When Someone Dies Without a Will? What occurs when an individual passes away without a will? In the absence of a will, as per Florida law, the surviving spouse assumes the role of personal representative of a Florida probate estate. However, in the event that there is no spouse, the…
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What is the procedure of Summary Administration in Florida Probate?
Summary administration in Florida is a shortened probate process applicable when a resident of Florida has been deceased for more than two years or owned assets worth less than $75,000. In summary administration, the probate court has the authority to validate a will for probate; however, instead of appointing a personal representative, the court can…
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What qualifications should be considered in selecting a trustee?
Who is the appropriate person to serve as a trustee? How do I choose a trustee for my trust? The representative from the law firm overseeing your legal affairs wants to be informed about your protected assets, assets that are not protected, and any financial activities such as sales, acquisitions, and other transactions that occurred…
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What happens upon the death of the legal entity?
Upon the death of the Legal Entity, the trust becomes irrevocable. If the Legal Entity was the Trustee, the person appointed to be the successor Trustee must formally accept the position. The Trustee will generally work closely with the Executor or Personal Representative of the Legal Entity’s estate during the estate administration process. The Trustee…
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How much does the process of estate administration cost?
When is Estate Administration Required in Florida? Estate administration is required whenever a person passes away with assets titled in their name (such as a residence or bank account). Estate administration, also known as “probate,” is the procedure that occurs to transfer those assets out of their name. Estate administration may also be necessary when…
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In what situations is probate necessary in Florida?
Probate is necessary whenever an individual passes away with assets under their name (such as a residence or bank account). The probate process, also known as “estate administration,” is conducted to transfer ownership of those assets. Probate may also be necessary when appointing a “personal representative” who handles the deceased’s affairs, such as initiating legal…
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What are the steps involved in formal probate proceedings in Florida?
What does the process of Florida Probate entail? What happens during the probate process? The probate process can simply be described as the legal proceedings required to transfer title of assets belonging to a decedent, into the names of the correct beneficiaries. As a hypothetical, let’s assume your relative passes away. If at the moment…
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“Payment for Estate Managers in Florida”
1. The court determines personal representative compensation based on factors such as the size and complexity of the estate, the time required to administer the estate, and the personal representative’s skill and experience. 2. Florida uses a percentage of the estate’s value to calculate personal representative compensation, with the percentage varying depending on the size…
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Florida Court Upholds Rules for Workers’ Compensation Immunity
– The court reaffirmed the tests for exception to workers’ compensation immunity in Florida. – Plaintiffs must prove intentional or grossly negligent conduct to defeat workers’ compensation immunity. – The employer was entitled to workers’ compensation immunity, but the co-employee was not based on the allegations in the Complaint. – The co-employee was alleged to…
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“Challenging Probate in Florida: What You Need to Know”
– Probate is the court-supervised process for distributing a deceased person’s assets to their beneficiaries. – Probate in Florida is necessary for nonresidents and residents who own property in their individual names without a named beneficiary. – Objecting to probate in Florida can be done on grounds such as undue influence, fraud, mistake, lack of…
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Safe Deposit Boxes and Florida Probate: What You Need to Know
– The personal representative is responsible for locating and inventorying all assets, including safe deposit boxes, in accordance with Florida Statute Section 733.607. – They must diligently search for keys, rental agreements, and account information to determine the existence and location of the safe deposit boxes. – The personal representative must follow specific legal requirements,…
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Testimony from a Deceased Witness in Florida: What Happened and What They Saw
– Florida Statute § 90.602 was repealed in 2005 by the Florida Legislature. – The statute barred an interested party in an estate from offering testimony regarding oral communications with a deceased person unless there was a waiver in place. – The statute only applied when a witness was testifying for their own sole interest…
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“Should You File a Joint Tax Return After Your Spouse’s Death?”
– The personal representative of a deceased spouse is responsible for filing an income tax return for the year of death. – Income included on the final return is based on the deceased’s usual tax accounting method. – The surviving spouse can file a joint return with the personal representative or alone if a personal…
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“Estate Planning Basics: Wills vs Trusts”
– A revocable living trust allows for the management of money and property if the individual becomes unable to do so, while a will only becomes effective after death. – Property and accounts in a revocable living trust do not go through probate, while those passing through a will do. – A will can be…
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How to Become a Personal Representative in Florida
1. The personal representative of a probate estate in Florida must be at least 18 years old, have no felony convictions, and meet other eligibility requirements outlined in Section 733.303 of the Florida Probate Code. 2. To become a personal representative, one must file a petition for administration with the probate court, including their name,…
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Challenging a Will in Florida: What You Need to Know
1. To contest a will in Florida, the person who made the will (testator) must be deceased. 2. To contest a will in Florida, the person must have legal standing, meaning they have a legal right to inherit under the will or had the testator died intestate. 3. Legal standing can include being an “heir…
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Avoiding Mistakes in Managing Estates in Florida
– Clear communication with beneficiaries is crucial to avoid disputes and manage expectations. – Meticulous record-keeping is important to provide clarity for beneficiaries and defend against legal challenges. – Adhering to statutory timelines for asset distribution can prevent frustration among beneficiaries. – Seeking professional guidance for investment decisions can minimize the risk of financial disputes.…
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Florida’s Response to Last Minute Marriages
1. Florida law now allows family members to contest deathbed marriages, which previously allowed the surviving spouse to inherit the decedent’s property. 2. Deathbed marriages were often used by individuals to take advantage of elderly single persons and claim their wealth. 3. Surviving spouses in deathbed marriages had rights to live in the family home…