Probate statutes in Florida determine what happens after someone dies. Probate statutes determine what happens to the property of people who die without estate plans. They establish a threshold for summary proceedings for smaller estates.
The law gives creditors a right to make claims against an estate and imposes many obligations on the personal representative administering the estate. As social and economic circumstances change, probate laws must evolve as well. State lawmakers frequently adopt changes to probate statutes.
Some of the probate law updates made in the last few years have had a noteworthy impact on the probate process.
What are some of the recent legal changes?
One of the recent changes that could impact estate administration involves resources allocated to minors and the documentation required. There are now more paperwork requirements for probate settlements in excess of $50,000 in cases involving minor beneficiaries.
The state has also adopted new rules intended to protect surviving spouses if they move from a community property state to Florida later in life. There are also new rules in place to protect surviving spouses and their right to inheritance when creditor claims may impact the probate process.
The rules for probate court also shifted to include digital assets in any petition for summary administration. The value of digital assets may push the estate over the threshold for summary administration. The state has also increased the maximum value of estates that can qualify for summary administration. They can now contain up to $75,000 in total assets and be eligible.
Additionally, a personal representative now has 30 days from when the courts appoint them to file necessary inventories with the courts. Individuals tasked with overseeing estate administration may need help ensuring their compliance with changing statutes. Those hoping to inherit from an estate also need to know what to expect. Even those putting together an estate plan may have to adjust the process based on changing state regulations.
Discussing estate planning or probate concerns with someone familiar with the updated state laws can help people who are planning their legacy or are carrying out someone else’s last wishes. People who have accurate legal information may better avoid mistakes that could diminish the value of an estate.
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