Probate Lawyer in Coconut Creek
Coconut Creek, Florida is a municipality in Broward County. In 2012, 55,001 people resided there. It is part of the Miami-Fort Lauderdale-Pompano Beach FL Metropolitan Statistical Area. The municipality broke away from Pompano Beach in the 60s. It is labelled Butterfly Capital of the World since it is home to Butterfly World, the world’s biggest butterfly aviary with more than eighty species and 5,000 individual butterflies.
Coconut Creek’s land area is twelve square miles, with about 50,000 residents and 1,400 businesses. Housing is mainly single-family homes, condos, and townhouses within efficiently redesigned neighborhoods. The municipality was named after the coconut trees, that were planted in the region by early developers. One of the developers, Robert E. Bateman, named Coconut Creek after uniting the names of Miami-Dade County’s village of Indian Creek and the Miami community of Coconut Grove.
Handling Florida Probate Creditors
The personal representative’s initial order of business when being selected to manage a decedent’s estate is to guarantee that the deceased person’s mail and so on is being redirect to him or her. The main reason for this is so that the personal representative is kept up to date of the deceased person’s duties to third parties; for example, phone, power/lighting, credit card, companies, and so on. The deceased person’s legal debts must be compensated out of his or her estate to the degree that funds are therefore available prior to any distributions of probate assets are made, otherwise the personal representative might be held personally accountable for these debts; for example, made to pay them him or herself.
Florida Statute 733.707 offers the order in which the deceased person’s debts and/or costs connected with the management of his or her estate must be compensated. All such duties are separated into “classes” and every creditor in a specified category is permitted to complete satisfaction prior to another category is respected. If at any point, the funds included in the deceased person’s estate are terminated, every uncompensated creditor in categories not yet reached—the deceased person’s future beneficiaries/heirs—get nothing.
- Administrative costs/expenses, and payment for the personal representative and the personal representative’s lawyer.
- Every sensible funeral, interment, and grave marker cost, whether compensated by a guardian, the personal representative, or any other individual, not to go over the total of $6,000.
- Any uncompensated federal taxes, and repayment for Medicaid or public assistance payments made in support of, or compensated to, the deceased person.
- Every sensible and required medical and hospital cost of the last sixty days of the final sickness of the deceased person, as well as payment of individuals attending the deceased person.
- A family allowance.
- Any arrearage from court-demanded child support.
- Any debts obtained following the deceased person’s demise by the extension of his or her business, but only to the degree of the assets of that business.
- All other claims, as well as those established on judgments and/or decrees made against the deceased person throughout his or her lifetime.