Wills and Probate What You Need To Know

Understanding wills and probate is one of the most important things you can do to protect your estate. However, there are often times when you will not only need to work through the probate process, but you will be facing the adjustment to the death of someone close to you. Probate upon the death of a loved one is emotionally draining many times and you still need to deal with the legal requirements.

Explaining the Florida Probate Process

Wills and probate go hand in hand, if the deceased had a will.  If not, then the state of Florida who gets your wealth. If you are named in a will or your parents die, your spouse dies or someone else who is close to you passes, it is likely you will be faced with probate. The Florida probate process involves several steps but most of it is conducted via the courts. Take a close look at this Florida will law overview so you have a sense of what happens during the probate process.
  • A person dies at which time all of his or her assets are frozen.
     
  • If there is a will available, that will is used to execute the orders and wishes of the deceased. This will name an executor who will be responsible for executing the wishes of the deceased person.
     
  • When the estate enters probate, which means that the probate court looks at the case and the executor may need to be present. You can also hire an attorney to work through this process on your behalf.
     
  • Probate looks at the value of the estate, which includes any assets that the individual has upon passing.
     
  • Probate also opens up the estate’s value to creditors who have claims against that estate. For a period of time after the individual’s death, creditors have the ability to come forward with proof that the deceased person owed them money.
     
  • Any creditors whose debts are proven legitimate will be paid from the assets within the estate.
     
  • A tax is levied on the estate in many instances depending on the value of the estate and the state where the probate occurs.
     
  • Property is then released to the heirs that the will lists, or if there is no will, the courts will determine who should receive any assets in the estate per the laws of that state.

Learning Even More About Wills and Probate

There are several additional things you need to know about wills and probate. First off, it is possible that someone could challenge a will. The best way to avoid a challenge to the will is to ensure that the will is legally bindings in advance of a person’s death. In addition, ask your attorney about a living trust. In many instances, a living trust is one of the best ways for the estate to avoid a Florida probate process. The good news is that an attorney can help you through this entire Florida will law process.

You can learn more about Learn more about wills and probate on our probate page.

Still have questions on the probate process?  Let an Olsen Law Group attorney experienced in wills and probate give you answers at no cost to you today

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