- If an estate contains assets valued at $75,000 or more, then an official probate court case must be opened for the decedent in the state of Florida. Decedents who owned a home and had a retirement account normally have assets valuable enough to require probate states the Brandon Family Law center, but a simpler process of summary administration is available for smaller estates.
- When an estate does not contain real property or assets, it may qualify for "disposition without administration." According to Glenn Lee Nye, an attorney in Deland, Fla., closing an estate without a formal probate process means that creditors can request payment on outstanding debts for up to two years after a person's death. With a formal probate proceeding, creditors must make their claims within 90 days.
- The probate process is designed to help smooth the legal transition of a person's death. Heirs and family members cannot inherit debt, so part of the probate process is to ensure that all outstanding debts are paid in full with whatever valuables the decedent left behind. Assets are liquidated as needed until all debts are paid, including any court fees and funeral expenses.
- All assets and valuables that remain after the estate debts are paid belong to heirs and beneficiaries. If the decedent left a will, then the remaining assets are distributed according to the terms of that will. If there is no will, the court distributes the remaining assets according to state law.
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