Jay-Z and Beyoncé kicked off their “On the Run” tour last week in Miami, delivering a combination of each of their hits. Among the massive 42-song set list the couple performed was Jay-Z’s Grammy winning song “99 Problems.” While you hopefully have less than 99 problems, probate should never be one of them if you have the right Florida probate attorneys to guide you through the process.
Generally, probate is the process of validating the will and transferring ownership of estate assets to the beneficiaries, and is a requirement under Florida law whenever the estate is over $75,000. This process is opened by presenting the decedent’s death certificate to the court. From there, the judge appoints a personal representative and gives him or her the letters of administration that gives the authority to act on the decedent’s behalf. Probate usually takes at least six months, but with larger estates, can take a few years. The complexity of the estate, the level of assets involved, and the number of beneficiaries can all lead to an extended probate period.
Given the responsibilities that fall on the personal representative, holding the position can be a stressful and daunting task. A personal representative can also be subjected to liability, leading to increased costs to the estate or even personally. Luckily, with the assistance of our experienced probate attorneys, you can avoid the typical problems associated with probate administration. There are many pitfalls that may not be apparent to someone untrained in the duties of the personal representative and these mistakes could lead to increased cost and time. Our attorneys will prepare and file the United States Estate Transfer Tax Return, the Florida Estate Tax Return, the decedent’s final United States Individual Income Tax return, and the United States Fiduciary Income Tax Returns. Once the distributions are made to the beneficiaries, we will then prepare the final accounting of the personal representative, making sure to obtain receipts and releases so that the personal representative is discharged. This will help to prevent the personal representative from being sued later for issues arising from the estate administration.
Handling the probate of an estate can be a time consuming and expensive process. Let us handle it for you and make sure it’s not one of your 99 problems.
For more information on successful Florida probate administration, estate planning, and asset protection techniques, please contact the South Florida law firm of Wild Felice & Partners, P.A. at 954-944-2855 to schedule your free consultation.
It’s a Wild world. Are you protected?SM