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North Central Florida Trust Attorneys Focus on Probate Administration Matters

There are two major types of probate administration in the state of Florida — summary administration and formal administration.

Formal Administration

Formal administration is used for all estates when the decedent’s assets subject to probate are over $75,000, or whenever a personal representative is required.

The advantages of a formal administration include:

• A personal representative with authority to secure information about the decedent’s assets or debts will be appointed.
• Letters of administration are provided, and banks and financial institutions may be more comfortable with letters of administration than with orders of summary administration.
• Formal administration is usually best when there are many known creditors, or when the decedent’s estate is subject to litigation.

Formal administration typically takes much longer than summary administration, and because it is more work, it is also more expensive.

Summary Administration

Summary administration can only be used when the total value of the deceased person’s assets that are subject to probate are $75,000 or less, or when the person has been deceased for more than two years.

The advantages to a summary administration include:

• Usually shorter in duration than formal administration – three to five months as compared to four to 12.
• Less work and consequently less expensive than a formal administration.
• Less complicated than formal administration.

In a summary administration, a personal representative will not be officially appointed, and no letters of administration are provided. However, if letters of administration are needed, or if the administration is subject to litigation, formal administration is a better option.

Contact a North Central Florida Estate Planning Law Firm Today

Do you need help with probate administration? Dean & Dean, LLP offers assistance with a variety of estate planning, probate, and real estate matters, including formal and summary administration. Contact us online or call (352) 515-9221 to set up your initial consultation today.