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Summary Administration is a streamlined form of probate in Florida that is available for smaller estates. This process can be used when the estate’s total value, not including exempt property like homestead, is less than $75,000, or if the person has been deceased for more than two years. Unlike Formal Administration, Summary Administration does not require the appointment of a personal representative, making it a quicker and less complicated way to distribute assets.
The benefits of Summary Administration include:
- Faster Process:
Summary Administration typically takes less time to complete than Formal Administration, often finalizing within a few months, depending on the complexity of the estate.
- Cost-Effective:
Because there are fewer court requirements and no personal representative, the overall cost of Summary Administration is usually lower than a full probate process.
- Simplified for Small Estates:
For estates that meet the eligibility criteria, Summary Administration provides a straightforward way to transfer assets without the burden of a lengthy legal process.
Summary Administration is available in two primary situations:
- Estate Value:
The value of the decedent’s estate must be less than $75,000, excluding exempt property such as the homestead.
- Time Since Death:
If the decedent has been deceased for more than two years, the estate qualifies for Summary Administration, regardless of its value.
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Frequently Asked Questions About Summary Administration