What is a creditor? 732.4017 Inter vivos transfer of homestead property. Are the assets in your Florida estate protected? Method 1 of 4: Transferring Assets without Probate 1. An experienced Indianapolis probate attorney can help you to identify which estate assets must go through the probate process and which assets can be transferred directly. Under Section 4 'asset description', how do I identify those assets that are exempt from probate? Plain English: To put it simply, if the non-exempt assets (assets that are not protected from creditors such as bank accounts) total $75,000 or less or more than 2 years have passed since the decedent's date of death, When to Use Summary Administration. However, one asset common to most Florida estates is an automobile. (Fla. Stat. Read more to find out what the assets subject to probate in Florida. The constitution also exempts up to $1,000 of personal property. The answer is that the Florida homestead exemption protects the owner’s primary residence from creditors after death even though the decedent does not then occupy the property. Non-probate assets are property that doesn't need to go through the probate process after you die and will instead pass directly to your heirs. Ann. Your home includes any shelter that you have an ownership interest in and is used as your principal place of residence. Probate Assets. Florida is one of the few states that sets out, in its statutes, lawyers’ fees that are presumed to be reasonable for estates of a certain value. Other assets are non-probate property. Jointly Owned Real Estate . the only assets are either exempt from creditors’ claims or don’t exceed the amount of final expenses. In some cases, the only asset that the deceased person owned is the motor vehicle or mobile home. Does Selling a Decedent’s Homestead Require a Probate Proceeding? You also have to have a monthly income of less than $2,313. This statute provides that any money or other assets payable to a participant or beneficiary in a qualified retirement or profit sharing plan is exempt from creditor claims. 2 The Florida Probate Code supplements the constitutional exemptions by statutorily including additional assets as exempt from the claims of creditors. Probate depends on what assets you own and how they are titled, not whether or not you have a will. PROBATE CODE: INTESTATE SUCCESSION AND WILLS: View Entire Chapter : 732.402 Exempt property. The court may authorize the executor to distribute the assets without having to jump through the hoops of regular probate. Types of Probate in Florida. We sometimes get inquiries about how to transfer an automobile or mobile home in Florida without going through probate. What Florida estate assets are PROTECTED from creditors? Also, property that is shared through a “joint tenancy,” may also avoid this process. So if the decedent dies with a bank account worth only $2,000 in their own name, the family/heirs will need some type of help from probate and the court system. Probate in Florida 1. Some of those assets are considered probate property—or assets that will be distributed to heirs based on the terms of a will or according to state law if there isn't a will. These assets bypass the probate process and go directly to beneficiaries or co-owners, no matter what the will says. This means that the property cannot be forced to be sold in order to pay creditors of the probate estate. The size of the asset does not matter for Florida purposes, just the titling. Depending on the size of the estate, the probate process differs greatly. When someone dies with or without a will, their estate goes through a court-supervised probate process to ensure that the estate is distributed according to the wishes stated the will or according to Florida law. 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