Florida Inheritance Loans and Probate Advance Law
Dec 12 2018Every state has its own specific probate laws designed to ensure the last will and testament of the deceased is honored and that their estates are handled properly according to the law. Probate laws will establish the length of time you have to petition the opening of an estate as well as what forms and signatures are required and what types of assets and property must go through the probate process before it can be disbursed to heirs or beneficiaries.
What are Florida Probate Laws?Florida probate laws are generally complex. However, there are laws in place, called summary administration, that allow for a streamlined process if the value of an estate is below the designated value threshold. If the owner of the estate, called the decedent, died more than two years previously and there was no administration of the will, the case may qualify for summary administration in Florida.
What are the Probate Laws in Florida?The probate laws in Florida vary somewhat from the laws in some other states. While all states require certain forms with signatures and witnesses, the deadlines to submit these forms and who may have the probate case opened can vary greatly. In Florida, probate may be heard in court in front of a judge or jury. Therefore, it is important that you understand the process and determine if you need the assistance of a knowledgeable Florida probate attorney. The Florida probate system can be quite complex and having the help of someone who already knows the laws, deadlines, and requirements can only help.
What is the Probate Process in Florida?The probate process in Florida is designed to ensure the final debts of the deceased are paid and that their assets and property are given to the proper heirs and beneficiaries. The process is typically overseen by the probate court and any person who is named in the will has custody of someone named in a will, or who has a legitimate interest in the will has the legal right to petition the court to probate a will. The probate process in Florida has several core steps.
- File a petition to probate an estate with the probate court. The person named in the will as executor, or who is named by the court as administrator will assume responsibility for the estate. If the person died without a will, the Letters of Administration form must be filed with the court. Personal representatives may be required to provide bond; however, the amount is determined by the total value of the estate.
- A copy of the death certificate will need to be obtained and provided to the court.
- The assets of the estate will need to be inventoried and listed for the court within a certain amount of time.
- Letters of Notice of probate must be sent to all beneficiaries and Letters of Testamentary must be granted. Notices of probate must be published for a certain period of time, and those who have claims against the estate must respond before the deadline.
- All liability claims must be investigated, and legitimate debts paid, and all attorney and court fees must be approved.
- The remainder of the estate is disbursed to heirs and beneficiaries as provided in the last will and testament of the deceased.
What Property Must Go Through Florida Probate?Not all types of property must go through Florida probate. For example, if the title to the property automatically is assigned to another person upon death, the property may not need to be probated. Likewise, some bank accounts and insurance policies may not have to go through probate if they were set up to be payable upon death to another person. However, if the person who died is the only owner of the property, or if claims are made for the property, the property will most likely have to go through probate. Your probate attorney will be able to help you determine what needs to be probated and what can bypass the process.
What Can You Do to Avoid Probate in Florida?There are some things you can do to avoid probate in Florida. Namely, you can take certain steps before you die to ensure your assets go where you want them to. You can file a living trust which automatically transfers the ownership of all assets included in the trust without having to go through the costly and often lengthy probate process. You can designate your bank accounts, real estate holdings, stocks, bonds, vehicles, and insurance to be payable on death to someone else, so they don’t have to go through probate before being given to your beneficiaries or heirs.
Can You Access Florida Inheritance Funds Right Away?There is at least one safe way to access Florida inheritance funds right away, even before the probate process is done. Instead of waiting for months if not years to finally get what your loved one wanted you to have, you may be able to receive your inheritance in just a few days. In fact, if you qualify for a cash advance on your inheritance funds and get your money in as little as two days. With Probate Advance, you can get the money you are entitled to quickly, safely, and without any strings attached. You are not taking out a loan on your money, and there are no interest charges or payments. Probate Advance offers you the opportunity to get a cash advance on the money you are entitled to. It is not a loan, and there are no fees or payments required. Best of all, you may be able to have to your inheritance funds in as little as 48 hours.
How Can You Get a Probate Advance in Florida?You can get a probate advance in Florida through Probate Advance by simply providing some basic information. We need to confirm that you are a beneficiary or heir to an estate, and then you can have your money. Just tell us how much of your inheritance you need now, and we can deposit the funds in your bank account in about 48 hours.
What Areas of Florida Qualify for an Inheritance Advance?We provide inheritance loans in all areas of Florida, including the following cities: