Port St. Lucie Probate Attorney

Probate can be a complex process. Hiring a Port St. Lucie probate attorney can help you best navigate the process.

Many people have questions and concerns about how the probate process works in Port St. Lucie and surrounding areas of the Treasure Coast. In the state of Florida, the probate process involves identifying and collecting the assets of a deceased person (often called the decedent). Once assets are assembled, they are first used to pay for the court proceedings, then to pay the decedent’s outstanding debts. Whatever is left is paid to the decedent’s beneficiaries.

Often people ask their Florida probate attorney questions about what constitutes an “asset” in probate court. Probate assets fall into two categories: Assets that were owned solely in the decedent’s name at the time of death, and assets that were co-owned with one or more other people, without a provision for succession. For example, if Bob and Joe own a food truck business, and Bob suddenly dies, their company could become a probate asset if they did not have a formal succession plan. (For this reason, Florida business lawyers recommend people setting up a new business include a succession plan in their company documents.)

Understanding Probate Assets

Some other important things to know about probate assets include:

• A bank or investment account solely in the name of the decedent is a probate asset. However, if the account is held jointly with another person and is payable or transferable upon death to the other person, it is not a probate asset. If you are unsure, your Florida probate attorney can help you figure out if a jointly held account is a probate asset.
• A life insurance policy, annuity contract, or individual retirement account payable to a specific beneficiary is not a probate asset. However, if any of these items is payable to the holder’s estate, it is a probate asset.
• Real estate titled in the sole name of the decedent, or jointly with another person as tenants in common, is a probate asset—with the exception of homestead property. However, if the real estate is titled jointly in the name of the decedent and one or more other people, with rights of survivorship, it is not a probate asset.
• Property owned by married couples as tenants by the entirety is not a probate asset when one spouse dies. The property goes automatically to the surviving spouse with some exceptions which you can discuss with your Florida probate attorney.

What If An Individual Passes Without a Will in Florida?

If a person dies without a will in Florida, the state will make extensive efforts to find surviving relatives. Closer relatives get top priority, with most of the estate going to spouses or children in many cases. How much of the estate is inherited by a surviving spouse usually depends on whether the decedent and the spouse had children from a previous marriage. If the decedent was not married and had no descendants, the estate usually passes to the deceased’s parents or siblings. If there are no living parents of siblings, more remote relatives may become beneficiaries. Your Florida probate attorney can help explain this process in more detail, should you wish.

Many people prefer to divide their own estate by making a will, a written document signed by the decedent and witnesses that meets the requirements of Florida law. Your Florida probate attorney can help you put your wishes in writing in the form of a will.

If you have questions or concerns about probate, estate planning, or other Florida legal services, please contact Apfelbaum Law for a consultation. We can be reached at 772-236-4009, or contactus@alawfl.com.