Probate

Probate Assets vs. Non-Probate Assets

probate assets

Dealing with the loss of a loved one is tough. It is emotionally draining, and when you add on the task of handling a loved one’s estate, it can be very overwhelming. When someone dies in the state of Florida and that person did not have all of their assets properly funded into a Trust or set up in some other manner to render the asset a “non-probate” asset, probate will need to be initiated to transfer all “probate assets” to their respective beneficiaries of heirs. If you are unsure whether probate is required in your situation, please contact the Horton Law Group, P.A. to schedule a free 30-minute consultation. Courts generally only administer probate assets. Not non-probate assets. So, what are probate assets?

What are probate assets?

  • Assets owned in the decedent’s sole name at death (this can include real property, bank accounts, investment accounts, timeshares, or other assets). 
  • Assets owned in the decedent’s name and the name of a third party’s name at the death of the decedent, of which, lacked a provision for automatic succession of ownership at death. 
  • Life insurance policies, retirement accounts, brokerage accounts, annuities, or other assets that are payable to the decedent’s estate are considered probate assets. 
  • Real property held between the decedent and a third party as tenants in common is a probate asset – with certain exceptions, such as Homestead.
  • If you are unsure whether probate is required in your situation, please contact the Horton Law Group, P.A. to schedule a free 30-minute consultation. 

What are non-probate assets?

  • Real Estate titled with rights of survivorship, such as Joint Tenancy or as Tenants by the Entirety. 50% of the ownership rights of tenants in common real property rights may be non-probate assets – depending on Homestead. 
  • Assets properly funded and titled in a Trust
  • Retirement accounts, annuity accounts, life insurance accounts, brokerage accounts, bank accounts or any other accounts that name a beneficiary other than the decedent’s estate. 

A good attorney represents you in probate Court and just goes through the Motions. A great attorney uses the law as a tool to maneuver through the legal process to deliver you the best possible results while keeping you informed every step of the way. The attorneys at the Horton Law Group provide you stellar representation, quality legal counsel and they will be by your side every step of the way. We are good at what we do. This alone can make all the difference to you and your family. Please contact the Horton Law Group, P.A. at 561 299 0018 to schedule your free 30- minute consultation with an experience probate litigation attorney.  

Why hire the Horton Law Group, P.A?

The principal partner at the Horton Law Group, P.A., Attorney Sommer C. Horton, has been litigating probate cases for 20 years. She is an experienced and aggressive estate litigator. She is highly regarded for her creativeness, strategic judgment and her uncanny ability to deliver persuasive legal arguments in the courtroom. She has a tremendous skill for being an aggressive advocate for her clients, while being one who understands and appreciates how trying litigation can be, thus, she is extremely sensitive to her clients’ needs. 

Ms. Horton is passionate about the law and believes in seeking justice for her clients in an ethical and economic manner. Ms. Horton fights for each and every one of her clients – every step of the way. Ms. Horton will spend time with you to make sure you understand the law, understand your rights and she will draft your estate plans for you so that you and your family are protected. In addition, she can assist you with your business planning, estate planning and asset protection needs too. 

The Horton Law Group, P.A. is a boutique civil litigation law firm that only takes on a limited number of cases so that personal attention can be given to every client. Make the right call – schedule a free 30-minute consultation with Ms. Horton. You can make an appointment by calling 561-299-0018 or emailing legalsupport@hortonlawgroup.com

 

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