“Probate” is how a recently deceased property owner’s assets are distributed to beneficiaries. Property subject to probate is generally distributed in accordance with the deceased’s last will and testament if a valid one exists; otherwise it is distributed according to Florida’s intestacy laws. In most cases, not all of a decedent’s property is subject to probate; and in some cases none of it is. If you die with most of your assets in probate, your beneficiaries may have a long wait ahead of them, because they cannot receive their distributions until the probate court releases them — which could be years under a worst-case scenario. To create an effective estate plan, you need to understand the difference between probate and non-probate assets. Non-probate assets are usually assets that can be transferred without the supervision of the probate court. Your last will and testament does not control the distribution of these assets — instead, these assets are distributed directly to your named beneficiaries shortly after you die and almost certainly before probate procedures have been completed. Following are some examples.: It is generally a good idea to move as much of your property as you can outside of the jurisdiction of probate before you die. Nevertheless, there are certain risks in doing so — especially if you plan unwisely: Jose Lorenzo is a Florida estate planning and probate lawyer with a strong track record of success. Our firm maintains offices in Coral Gables and Ft. Lauderdale, and we serve clients throughout Florida. We can be reached by phone at (305) 999-5411, through our online intake form, by email at [email protected] or by visiting one of our offices.NON-PROBATE ASSETS VS. ESTATE ASSETS UNDER FLORIDA PROBATE LAW
Probate Assets
Some typical examples of probate assets include:
Non-Probate Assets
Unintended Consequences
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Lorenzo Law
Miami-Dade Office: 2850 Douglas Rd. Suite 303, Coral Gables, FL 33134
Broward: 12 SE 7th Street, Suite 701. Fort Lauderdale, Florida 33301
Phone: (305) 224-6811 | Email: [email protected]
We provide legal services throughout Florida including those in the following localities: Miami-Dade County including Aventura, Miami, Coral Gables, Doral, Fontainebleau, Hialeah, Homestead, Kendall, Key Biscayne, Miami Beach, Miami Lakes, North Miami, Tamiami, Westchester, and North Miami Beach; Broward County including Fort Lauderdale, Hollywood, Cooper City, Coral Springs, Hallandale Beach, Oakland Park, Pembroke Pines, Plantation, and Weston; and Palm Beach County including West Palm Beach.
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