How We Can Help
Probate is the court-supervised process of identifying and gathering the assets of a decedent, paying the decedent’s debts and distributing the balance to the decedent’s beneficiaries. In Florida, there are two primary forms of probate: formal administration and summary administration.
In both formal administration and summary administration there are a number of steps that need to be taken and parties who need to receive notice of the probate proceeding. It is important that all of these steps are taken to ensure that the process is not prolonged.
Not all estates require probate. Probate administration only applies to probate assets, which begs the question… what are probate assets? Probate assets are the assets that were owned by the decedent in his sole name at the time of death. If the asset had a joint tenant with a survivorship interest or a designated beneficiary (pay on death account, designated beneficiary on life insurance or retirement account), then the asset is not subject to probate administration.
Mr. Busbin brings his experience as a CERTIFIED FINANCIAL PLANNER™ professional to help clients to complete their estate plans in such a way as to minimize assets that would be subject to probate administration.