Legal Question in Wills and Trusts in Florida
Probate
My fatherinlaw passed away and left no estate except for a small insurance policy of 7000.00 which had not been in force for 2 yrs when he died. They are requesting Letters of Administration to the estate. The policy falls within the contestabilty period. Do we have to file Probate even though he left nothing except for bills? Is this something we can handle on our own? My wife is the executor of his will.
Thank you
2 Answers from Attorneys
Re: Probate
Read Flordia Statute Chapter 735 covering Small Estates.
Re: Probate
Apparently they are requesting Letters Of Administration because there is no beneficiary named on the policy. Otherwise, the proceeds would be payable to the beneficary outside of probate. The only way then to gain access to the proceeds is through the probate court. A simplified type of probate is available if there are no creditors (not your situation). Or the beneficiaries under the will can wait for two years after his death (at which point creditors who have not filed with the court are wiped out) and do the simplified probate. If formal probate is initiated, creditors must be notified, and they would presumably eat up most or all of the proceeds. Can you do it yourself (i.e., without an attorney)? Probably not. The simplified probate should cost less than $1000 in attorneys fees and costs.
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