Tampa Formal Administration Lawyers

Formal administration is used for estates valued at more than $75,000 or estates for which summary administration is not appropriate. If you’ve been appointed as the personal representative of a decedent’s estate that qualifies for formal administration, please don’t hesitate to contact our seasoned Tampa probate lawyers for guidance.

Do I Need to Hire a Lawyer for Formal Administration?

Hiring a team of competent Tampa probate lawyers can help with several aspects of the Formal Administration process, including:

• Providing invaluable advice on every aspect of the formal administration process, ensuring compliance with all legal requirements and deadlines;
• Identifying and valuating the decedent’s assets accurately, managing the estate’s finances, and helping to transfer titles and assets to the rightful beneficiaries;
• Handling communications and negotiations with creditors, including disputing unjust claims against the estate;
• Representing the estate in court, should any disputes arise during the administration of the estate;
• Streamlining the formal administration process, reducing the time and stress involved in settling the estate.

The Formal Administration Process

In formal administration, a personal representative is appointed by the court to assist in the administration of the estate. The personal representative works with the probate attorney to determine the assets and liabilities of the estate, gather the assets of the estate, address any creditor claims against the estate, and make distributions according to either the will or the intestate laws of Florida. To learn more about the role of the personal representative, click here.

Due to the additional requirements and procedures, formal administration will take longer than summary administration to process through the court. However, there are benefits to formal administration.

A personal representative is appointed by court order and has authority granted by a judge. It is therefore much easier to ascertain, transfer, and distribute estate assets. Additionally, as part of formal administration, creditors of the estate are given a 90-day period of time in which to make a claim against the estate. If a creditor does not make such a claim, their claim is forever barred. This means that a creditor cannot come back at a later time and attempt to collect against the estate.

Though formal administration takes longer to process, it fully administers the estate so that no issues remain regarding the estate.

Contact Our Tampa Probate Lawyers Today

At the Tampa Law Group, one of our New Tampa probate attorneys will work with you at every step to be sure that the estate is administered as smoothly and as quickly as possible. For further questions or if you’re ready to get started, please don’t hesitate to contact Tampa Law Group today.