Not everything you own has to go through probate in Florida. In fact, with a little planning, most, if not all, of your assets can pass to your loved ones without any court involvement at all. Probate is an expensive and often long process that can be avoided if your estate is managed before you pass away.
Assets that typically skip probate
- Accounts with a payable-on-death or transfer-on-death beneficiary
- Life insurance and retirement accounts with named beneficiaries
- Property held jointly with rights of survivorship
- Assets titled in a living trust
- A home passed by a Lady Bird deed (otherwise known as an Enhanced Life Estate Deed)
What usually does go through probate
Assets held in your name alone, with no beneficiary or co-owner, generally do require probate — a bank account, car, or home titled only to you. Certain exempt and homestead property may receive special protected treatment, but may still need a summary probate opened.
The planning opportunity
By coordinating beneficiary designations, ownership, and a trust and/or deed, you can shrink — or eliminate — what has to go through probate. Hochberger Law can help you build that kind of plan.
This article is general information about Florida law, not legal advice. Every situation is different — please consult a Florida attorney about your specific circumstances.