Answer to: When will the administration duties be done?
Organizing may have already been done by estate planning, or if things are
not organized and planned, then the family takes the time (after arranging
transportation) to do this work when settling the estate.
If there is no Living Trust, and if the estate will be settled by the laws
of probate administration – either an intestate estate (without a Will)
or by probate administration of a valid Will, allow a few months up to a few
years, depending on the size of the estate, and depending on the answers to
all the questions below:
Are important papers and all assets organized so that a family member or professional
estate administrator knows what you have -- original Will and Trust documents,
life insurance policies, bank statements, real estate Deeds, etc.?
Do family members know where to find the Will, Trust, Power of Attorney,
Deeds, and insurance policies? Are papers locked in a safe box – who
can access the box, at what location, during what hours ?
Is the original Will document immediately available? If the Will is locked
in a safe deposit box which was titled solely in the name of the deceased person,
allow up to two weeks to get a court order allowing access to the safe deposit
box. Allow time to gather information and make decisions.
Can the family pay the funeral and estate administration costs required before the beneficiaries receive anything from the estate?
Is the Will a Florida Will, or a Will prepared in another state ? If the Will is not valid according to Florida requirements, there may be initial delays in the process of settling the estate.
Does the Will identify the beneficiaries of the estate by name or does is say “children” or “grandchildren?” If the primary beneficiaries are not identified by name, it may be necessary to arrange for a court to determine the proper beneficiaries.
Does the Will designate a qualified estate administrator -- in Florida this person is called the personal representative? Florida laws specify who may settle a Florida resident’s estate. If the person is not qualified according to Florida laws, there are procedures to nominate a personal representative, and then request approval by the court.
Does the Will give instructions about paying expenses and taxes? This information determines when part of the estate can be released from the estate accounts -- i.e. distributed to beneficiaries.
Is the personal representative available to handle duties promptly, or will
things be delayed while the personal representative is busy with work, family,
etc?
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