Probate is a legal process, which takes place in the courthouse, whereby a deceased person’s debts, assets and beneficiaries are identified. The court supervises the distribution of the decedent’s assets to first pay the cost of probate, second pay the decedent’s outstanding debts, and lastly, distribute what remains to the decedent’s beneficiaries.
Probate assets can include bank accounts and investments, businesses, real estate, automobiles and personal property. Probate will facilitate the transfer of ownership of these assets to the beneficiaries under Florida law. If the decedent had a will, the assets will pass in accordance with the will. If the decedent did not have a will, (what is considered “intestate”)assets will pass in accordance with the standards set under Florida law.
To read more about estate planning, visit our estate planning page that provides a general overview. If you have further questions and would like to meet with one of our Tampa estate planning attorneys, please contact us for a free initial consultation.