When someone dies in Florida and doesn't have a will, the Florida intestacy statute determines who are the beneficiaries of the estate. The assets titled in the name of the deceased person must pass through probate to ensure that all legitimate creditors are paid, and the remaining assets are legally transferred to the beneficiaries. Chapter 732, Florida Statutes, provides the law that is applicable to an intestate estate.
If there is no surviving spouse, the assets are divided into equal shares for the children. If there is a surviving spouse, the assets are divided one half to the surviving spouse, and one half is divided among the children in equal shares.
Generally speaking, the probate administration for an intestate (no will) estate is initiated by one or more of the beneficiaries by the filing of a petition for administration of the probate estate. The beneficiary will need to hire an attorney, unless there are no creditors of the estate and the beneficiary is the only beneficiary or interested person in the estate. If the estate assets are valued at more than $75,000, the probate must be a "formal administration." If the value of the estate assets, other than exempt property, is less than $75,000 then a summary administration is possible.
Through the probate process, the legitimate creditors of the estate are paid, and the remaining assets are passed to the beneficiaries.
Answered on Oct 01st, 2012 at 8:28 AM