No. If someone had an asset in their name. The amount of the asset does not matter for Florida purposes, just the titling. That said, depending on the size of the estate, the probate process can differ considerably.
Florida has three probate processes to consider:
Disposition without Administration
This process is available in some extremely small estates and technically does not involve the probate process. It does, however, involve the Florida Court system. This process is for someone seeking to get reimbursed for a funeral bill or medical expenses within 60 days of death or a asset under $1,000.
This process is a shorter probate process and only available when:
- the probate assets are worth less than $75,000;
- all of the decedent’s bills are paid or the decedent has been dead for more than two years; and
- all of the decedent’s assets are known.
Formal Probate Administration
This option is the complete probate process of appointing the Personal Representative, dealing with creditors, publishing in the newspaper, etc. This is the option when assets exceed $75,000, and the estate has debts, heirs disagree, unknown assets, etc.
If your loved one has recently passed and your family is looking to probate an asset, don’t hesitate to contact me for a free consultation.
Heidi S. Webb, Attorney at Law serves clients in Daytona Beach, Ormond Beach, Port Orange, and beyond with matters of Elder Law, Estate Planning, and Small Business Law. Contact her today to schedule a free consultation. Visit her page on Facebook, or see what her clients are saying to learn more about Heidi.