Probate Terms Explained: Your Guide to Inherited Property in Florida

Administrator A person appointed by the court to manage the estate when there is no will or when the named executor cannot serve. In Florida, this person is called a "Personal Representative."

Ancillary Probate A secondary probate proceeding required when the deceased owned property in Florida but was a resident of another state at the time of death.

Beneficiary A person or entity named in a will or trust to receive assets from the estate.

Decedent The person who has passed away and whose estate is being administered through probate.

Estate All assets, property, and belongings owned by the decedent at the time of death, including real estate, bank accounts, personal property, and investments.

Executor The person named in a will to carry out the wishes of the decedent and manage the estate. In Florida, this role is officially called "Personal Representative."

Heir A person legally entitled to inherit from the estate when there is no will, typically determined by Florida intestacy laws.

Intestate The condition of dying without a valid will. Florida law determines how assets are distributed in intestate cases.

Letters of Administration Court documents that authorize the Personal Representative to act on behalf of the estate. These are essential for selling real estate.

Personal Representative Florida's official term for the executor or administrator—the person appointed to manage the estate through probate.

Probate The court-supervised legal process of validating a will (if one exists), paying debts, and distributing assets to heirs or beneficiaries.

Testate The condition of dying with a valid will in place.

Will A legal document that specifies how a person's assets should be distributed after death and may name guardians for minor children.

Formal Administration The standard probate process used for estates over $75,000 or when required by law. This involves court supervision and typically takes 6-12 months or longer.

Summary Administration A simplified probate process available for estates valued at $75,000 or less, or when the decedent has been deceased for more than two years. This is faster and less expensive than formal administration.

Disposition Without Administration The simplest process for very small estates, typically used when the estate's only assets are exempt property or amounts needed to pay final expenses.

Court Order A formal directive from the probate court authorizing specific actions, such as the sale of real estate.

Creditor A person or entity to whom the decedent owed money at the time of death. Creditors must be notified during probate and have specific timeframes to file claims.

Creditor's Claim A formal request filed by a creditor seeking payment from the estate for debts owed by the decedent.

Final Accounting A detailed report prepared by the Personal Representative showing all assets, income, expenses, and distributions made during the estate administration.

Notice to Creditors A legal notice published in a newspaper and sent to known creditors, informing them of the probate proceeding and their right to file claims.

Petition A formal request filed with the probate court asking for specific action or relief, such as opening probate or authorizing a property sale.

Probate Court The division of the circuit court that handles estate matters. In Florida, this is part of the Circuit Court system.

Venue The county where the probate case should be filed, typically where the decedent lived or where the property is located.

Cloud on Title An unresolved claim or defect affecting the property's ownership that must be cleared before selling. Probate can create temporary clouds on title.

Deed The legal document that transfers property ownership. Different types of deeds may be used depending on the probate situation.

Fair Market Value The price a property would sell for on the open market between a willing buyer and willing seller. Often determined by a professional appraisal during probate.

Homestead Property In Florida, the primary residence of the decedent, which receives special constitutional protections and has unique rules regarding who can inherit it.

Order Authorizing Sale A court order that gives the Personal Representative permission to sell estate real estate. This may be required depending on the will's language and the type of probate.

Personal Property Movable items like furniture, jewelry, vehicles, and household goods, as opposed to real estate.

Real Property Land and anything permanently attached to it, including houses, buildings, and improvements.

Title Legal ownership of property. Clear title is essential for selling real estate from an estate.

Title Search An examination of public records to verify the legal ownership of property and identify any liens, claims, or defects.

Appraisal A professional assessment of property value, often required during probate to establish fair market value for tax purposes or sale.

Date of Death Value The fair market value of property on the date the decedent passed away, used for tax purposes and determining estate value.

Estate Tax Federal or state taxes owed on the transfer of property at death. Most estates in Florida don't owe federal estate tax due to high exemption limits.

Final Expenses Costs related to the decedent's death, including funeral expenses, medical bills, and estate administration costs, which are typically paid before distributing assets.

Lien A legal claim against property used to secure payment of a debt. Liens must typically be satisfied before real estate can be sold.

Stepped-Up Basis The adjustment of inherited property's cost basis to its fair market value at the date of death, which can reduce capital gains taxes if the property is later sold.

As-Is Sale Selling property in its current condition without making repairs, common in probate situations where heirs want to avoid additional expenses.

Distribution The process of transferring estate assets to heirs or beneficiaries after debts and expenses are paid.

Joint Tenancy with Right of Survivorship A form of property ownership where the surviving owner automatically receives the deceased owner's share without going through probate.

Marketable Title A title free from significant defects or reasonable doubt, making the property saleable to a reasonable buyer.

Per Stirpes A method of distributing assets where, if a beneficiary has predeceased the decedent, that beneficiary's share goes to their children or descendants.

Residuary Estate What remains of the estate after specific gifts are made and debts are paid, often including real estate.

Probate Attorney A lawyer specializing in estate administration who guides the Personal Representative through the legal process.

Personal Representative's Attorney In Florida, the Personal Representative typically hires an attorney to assist with the probate process, and attorney fees are paid from the estate.

Real Estate Agent A licensed professional who can help market and sell estate property, particularly valuable when dealing with probate real estate requirements.

Title Company A company that researches property ownership, issues title insurance, and typically handles the closing when estate property is sold.