Brickell Probate Lawyer
Brickell, Florida is a metropolitan neighborhood of Greater Downtown Miami. It is directly south of the historical Central Business District and the main economic area of both Miami and South Florida. Brickell was established in the contemporary era in the mid-1800s by early settlers, expanding to turn into the “Millionaire’s Row” of Miami in the early 1900s after the building of extravagant mansions down Brickell Avenue by Mary Brickell. By the 70s, office towers, hotels, and apartments started taking the place of the historical mansions. Now, Brickell has expanded to go beyond Miami’s historical central business district to the north, as one of the biggest economic districts in the U.S. With a fast-growing suburban population, Brickell is one of Miami’s fastest-growing neighborhoods in addition to its most crowed. In 2010, almost 31,000 people lived there.
Summary Administration in Florida
Who is Eligible?
The probate procedure can differ somewhat from state to state, and Florida has its own regulations when somebody dies possessing property within the state. However, it shares a few similarities with others. Most jurisdictions have laws prepared that make allowances for an efficient probate procedure when the value of a deceased person’s estate under a specific amount. Florida is not excluded from this. The state’s efficient procedure is known as a summary administration.
A Florida estate can be eligible for summary administration under one of two situations. An estate will be eligible for summary administration if the value of the deceased person’s Florida probate property does not go over $75,000 as of 2018. The amount does not consist of the value of the deceased person’s covered homestead real estate. Therefore, beneficiaries can still exploit the summary administration of Florida if a Florida resident passes away with $50,000 in the bank and a homestead residence worth $150,000. An estate will also be eligible for Florida summary administration if the deceased person has been dead for over two years, despite the value of his or her assets. However, there must have been no previous administration. The deceased person must have passed away without any debt, or the estate must obtain the agreement and approval of every creditor to carry on with a summary administration. The beneficiaries of a non-Florida resident who possesses real estate located within the state can exploit summary administration under similar circumstances: The value of the nonresident deceased person’s Florida real estate does not go over $75,000, or the nonresident passed away over two years ago.
A Few Disadvantages
One significant issue involved in this kind of procedure involves the deceased person’s debts, even when the estate has received permission from every known creditor. Heirs are personally accountable for these debts after a summary administration for two years after the death date. It is possible that unspecified creditor can appear throughout this time make a claim against at least one heir for payment.
Another Option for Extremely Minute Estates
Very minute estate might be eligible for Florida’s “Disposition Without Administration” procedure instead. This alternative is available to estates when every asset of the deceased person are either excluded from creditor claims or the value of his or her assets does not go over his or her funeral and medical costs acquired in the last sixty days of the deceased person’s last sickness if any. The estate cannot consist of real estate.