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David Silverstone, P.A.
2500 Hollywood Blvd
Suite 206
Hollywood, FL 33020
Ph: 954.367.0770
Fax: 954.367.0772
 
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David Silverstone, P.A.
2500 Hollywood Boulevard
Suite 206
Hollywood, FL 33020
Ph: 954.367.0770
Fax: 954.367.0772

Probate Estates

Administration of Probate Estates
Whether someone dies leaving a will, or an estate, most estates need to go through probate administration. The purpose of probate administration is to pass title to assets to a person's heirs or beneficiaries, and to dispose of a person's debts to creditors.

For example, if a person dies owning a savings account in her name, that person's heirs will not be able to get at that money until the estate has been administered. This applies to most property owned by a person at their death.

Full Administration vs. Summary Administration.
Estates having assets of less than $75,000.00 may require only a summary administration, which is relatively quick and inexpensive. Estates with assets exceeding $75,000.00 require a full administration, a more involved and costsly process.

It is worth noting that under Florida’s “homestead” law, a person’s residence is not included for purposes of calculating the value of the estate assets. Thus, a person may own a million dollar home, and still qualify for summary administration if all other assets in the estate are less than $75,000.00.





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