Type In Legal Florida Small Estates Forms For Free

A small estate affidavit in Florida is a step in a summary administration, which allows for the distribution of a deceased person's assets without the need for probate court. This process is typically used when the deceased person's estate is valued at less than $75,000 and they did not have a will.

In Florida, there is no small estate affidavit but Summary Administration can be used instead. Speed and cost savings are the attractions of Summary Administration. Rather than taking months or years as probate can, summary administration can accomplish a transfer of assets almost immediately after someone's death.

Qualification for summary administration Summary administration is the other type of procedure in Florida for small estates and is available if: The estate contains less than $75,000 of nonexempt assets, or. More than two years have passed since the date of death.

Florida law requires formal probate proceedings for any estate worth more than $75,000. If the estate is worth less than $75,000, or if the person has been deceased for over two years, it may qualify for a shorter version of probate called Summary Administration.

Formal administration is required for any estate with non-exempt assets valued at over $75,000 when a decedent died less than two years ago. Formal administration is also required any time that a personal representative is needed to settle the affairs of the decedent.

The assets of the decedent are first used to pay the costs associated with the probate, then any outstanding debts are paid. Finally, the remainder of the estate is distributed to the beneficiaries named in the decedent's will, or to the beneficiaries designated by the state of Florida.