What are considered Florida probate assets

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What are considered Florida probate assets

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Probate assets are those that a person owns at their time of death that require the probate court process to transfer to their heirs and beneficiaries. In Florida, like most states, probate assets typically include:

Real Estate

This includes any property owned by the decedent at their time of death. For real estate to be considered a probate asset, it must either be in the deceased individual’s name alone or, if owned with others, it must lack a provision for automatic succession of ownership.

Personal Property

This refers to all tangible and intangible personal belongings such as cars, furniture, jewelry, artwork, collectibles, etc. Personal property also includes financial accounts and securities registered in the deceased person’s name alone.

Bank Accounts

If the deceased person was the sole owner of a bank account, that account is a probate asset.

Life Insurance Policies, Annuities, and Retirement Accounts

These are considered probate assets when they are payable to the decedent’s estate rather than a named beneficiary.

Business Interests

If the deceased person owned interests in a business such as shares in a corporation, membership interests in a limited liability company, or partnership interests in a partnership, these are generally considered probate assets unless they are owned with others with automatic succession provisions.

Intellectual Property

This includes any copyrights, patents, or trademarks the deceased owned at the time of death.

Remember that not all assets are probate assets.

Non-probate assets, which pass outside of probate to named beneficiaries or joint owners, can include things like jointly owned property that has a right of survivorship, life insurance or retirement accounts with designated beneficiaries, and assets held in a trust. As always, the specifics can vary based on individual circumstances, so it’s a good idea to consult with a Florida probate attorney or an estate planning professional to understand the process better.

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Attorneys

Matthew T. Morrison

A graduate of Jones Law, he is our team lead for the probate department and case management. He is the one to establish the plan in court.

Carlos E. Carrillo

A graduate of St Thomas Law, Carlos is head of client management and client relations. He is the master of what happens out of court.

Dennis Ross

A graduate of Cumberland School of Law, Dennis serves as of counsel bringing legislative experience from his tenure as U.S. Congressman.

Testimonials

- Brandy Wingate

"Excellent experience. Provided needed legal documents for a medical emergency. Exceptional support and efficiency in communication made the process stress free. My compliments to Mathew Morrison and his staff. Highly recommend."

— Paulette Copley

"Shelee M. was very helpful with my situation. She was able to look at my property deed on line and took my problem to the attorneys immediately. She was kind and helped resolve my situation and expeditiously. I would highly recommend this firm and will use them again myself."

— Elmo Mangual

"This firm was very helpful in my probate case. They were excellent and willing to help no matter what. They were able to resolve my case fast. I was impress with their work. I give them a 10 out of 10. Thank you again from the Mangual family."

- Stephen Brown

"I was very happy with the compassion and caring about the loss of my brother. The professional handling of the legal issues was the very best that I could have asked for. Thank you."

- Paula Halterman

"Omgoodness!! Had an emergent issue, spoke with Shelee, not only did she take the time to listen and understand our problem, she obtained the solution!! If you EVER have a need for a probate attorney, MTM law firm is amazing!!"

Results may vary. Every legal matter is unique and past results do not guarantee a similar outcome. Testimonials reflect the individual experiences of former clients.

What are considered Florida probate assets