Yes.  Whether you have a will or not, every estate must be probated.  Estates that are under $75,000 in total asset value may be probated through a summary administration which is faster and cheaper than a full administration.  Estates that are above $75,000 in total asset value must go through a full administration which can cost between 3 and 10 percent of the entire estate and take a minimum of one year prior to distribution.  The use of a living trust to own and manage assets during your life can reduce the size of your estate to the point of qualifying for a summary administration.  Any assets left outside of the trust must be probated or they cannot be distributed.  I get many referrals from people attempting to sell their deceased parents’ homes only to be told by the closing agent that the title isn’t clear and that the home needs to be probated in order to be able to sell it.  The longer you wait to probate an estate, the more costly it can become.  There are a number of pitfalls to watch out for and it is absolutely imperative to hire a probate attorney as soon as a loved one dies.

For more information on successful Florida estate planning and probate techniques, please contact the South Florida law firm of Wild Felice & Pardo, P.A. at 954-944-2855 or via email at info@wfplaw.com to schedule your free consultation. It’s a Wild world.  Are you protected?