1031 Exchanges Moorhead Law Group’s founding partner, Steve Moorhead, has a new video about 1031 Exchanges. A 1031 Exchange is a special tax break that allows real estate investors to
This is a distinction which is given to less than 5% of attorneys nationwide.
This is a distinction which is given to less than 5% of attorneys nationwide.
Attorney Stephen Moorhead is proud to be Board Certified by the Florida Bar.
Attorney Stephen Moorhead is proud to be Board Certified by the Florida Bar.
Stephen Moorhead has been practicing law in Florida since 1988.
Stephen Moorhead has been practicing law in Florida since 1988.
There is always something positive that can be done to improve a client’s situation and welfare.
There is always something positive that can be done to improve a client’s situation and welfare.
ALTHOUGH NOTHING CAN BRING YOUR LOVED ONE BACK TO YOU, THE COMPASSIONATE SANTA ROSA BEACH PROBATE ATTORNEYS AT MOORHEAD REAL ESTATE LAW GROUP CAN HELP RELIEVE SOME OF YOUR BURDENS
Probate is the legal procedure through which a court confirms the validity of a deceased person’s will or finds that he or she died without one. The court also appoints someone to manage the decedent’s assets and settle any outstanding debts after he or she passes away.
Probate can be a difficult procedure. It might only take a few months or sometimes more than a year to finish. A probate court will be involved in the procedure, but court hearings are not always necessary. The type of probate and what steps that will entail depends on the nature of the estate assets, the estate plan in place, and the date of death.
One of the first things a personal representative must do is take control of the estate’s assets. This means the personal representative must determine how the estate’s residences, automobiles, and other property will be cared for. Everything must be safeguarded from damage or theft, and insurance must be kept updated.
The estate must also be inventoried by the personal representative. For bigger estates, this might be difficult, particularly if the personal representative was not close to the individual who died. A probate attorney can assist in taking an inventory of an estate.
A personal representative is also in charge of the estate’s distribution. This might be problematic if certain beneficiaries are hard to locate or if the estate is being challenged. To ensure that the personal representative completes all of the probate procedure responsibilities, it’s preferable to work with an experienced probate attorney.
If the probate process is not familiar to the family, it can add to the challenges. Our experienced, compassionate, and trusted probate attorneys can help relieve some of the pressure on the family in this difficult time. Contact us at (850) 608-0112 or fill out our convenient online contact form.
Probate can be a difficult procedure. It might only take a few months or sometimes more than a year to finish. A probate court will be involved in the procedure, but court hearings are not always necessary. The type of probate and what steps that will entail depends on the nature of the estate assets, the estate plan in place, and the date of death.
One of the first things a personal representative must do is take control of the estate’s assets. This means the personal representative must determine how the estate’s residences, automobiles, and other property will be cared for. Everything must be safeguarded from damage or theft, and insurance must be kept updated.
The estate must also be inventoried by the personal representative. For bigger estates, this might be difficult, particularly if the personal representative was not close to the individual who died. A probate attorney can assist in taking an inventory of an estate.
A personal representative is also in charge of the estate’s distribution. This might be problematic if certain beneficiaries are hard to locate or if the estate is being challenged. To ensure that the personal representative completes all of the probate procedure responsibilities, it’s preferable to work with an experienced probate attorney.
If the probate process is not familiar to the family, it can add to the challenges. Our experienced, compassionate, and trusted probate attorneys can help relieve some of the pressure on the family in this difficult time. Contact us at (850) 608-0112 or fill out our convenient online contact form.
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Another responsibility of the executor is to manage any debts that may exist after a person’s death. Liabilities may be addressed in a will, or state law may stipulate which debts must be paid first. If an estate does not have enough funds to satisfy all debts, the executor is required by law to determine which debts must be paid first.
Before the distribution of estate funds to beneficiaries, certain creditors have rights to the funds. The majority of creditors have four months following a person’s death to file a claim against the estate. A creditor’s right to payment from the estate may be forfeited if they do not claim within the required time frame.
To ensure that estate funds are dispersed appropriately, both executors and creditors should consult with a probate attorney. Our Santa Rosa Beach Probate attorney can assist you if you have issues regarding how creditors should be paid or where cash should be moved from.
AVOIDING PROBATE IN FLORIDA
The probate procedure is unduly onerous, time-consuming, and costly for many families. Fortunately, not all estates need lengthy probate processes. Small estates, for instance, can benefit from a standardized, simplified probate system. Using trusts, joint tenancy, and other estate planning options, other estates can avoid or reduce the need for probate.
ASSETS THAT ARE NOT SUBJECT TO PROBATE
By operation of law, property that the decedent did not own individually becomes a non-probate asset. Real estate is a frequent non-probate asset since it can be owned jointly with the right of survivorship, which means that when one of the owners dies, the deceased person’s stake transfers to the remaining owners, bypassing the probate procedure entirely.
CONTACT OUR SANTA ROSA BEACH PROBATE ATTORNEY
Probate may be a time-consuming and expensive procedure. Our Santa Rosa Beach Probate attorneys are familiar with Florida probate laws and can help you navigate the procedure easily. Contact the Moorhead Law Group for further information.
For more information on how to avoid probate, call a probate lawyer at our Law Office in Santa Rosa Beach.