The 2 different types of probate in Florida are Formal Administration and Summary Administration. To discuss the pros and cons of each, you should schedule a consultation with Florida Bar Board Certified wills, trusts and estates expert Matthew A. Linde.
Formal Administration vs. Summary Administration
The differences in Formal Administration and Summary Administration are:
- Formal Administration: This is the long version of probate in Florida in which Letters of Administration are generally administered, which can take up to a year or longer.
- Summary Administration: This is a short version of probate in which Letters of Administration are not necessary. Eligibility requirements include non-exempt assets valued at $75,000 or less or when the deceased died more than 2 years ago.
If you have been named a personal representative in a will, you generally will not be able to take significant action unless you have a court order. However, this is no reason to assume that you must have Letters of Administration to perform your duties as personal representative.
Your best bet is to meet with an expert in wills, trusts and estates to discuss your options. While Summary Administration is less costly and quicker than Formal Administration, you may not meet the requirements. For example, if you need authority to collect estate assets you will need Letters of Administration and consequently, a formal administration. Your attorney will be able to review your case and help you decide on the best course of action.
Help from Estate Planning Attorneys in Fort Myers is Just a Phone Call Away
Fort Myers estate planning attorney Matthew A. Linde understands firsthand the importance of careful estate planning and the complexities of financial legal matters, such as probate, tax litigation and guardianship. For help with your probate concerns, contact our Fort Myers office to schedule a one-on-one meeting with a professional who can answer your questions – 1-239-939-7100 or 1-844-357-0572.