Disclaimer
This article is for educational purposes and does not constitute legal advice. Consult a licensed attorney for guidance on Florida intestate succession.
Detailed Answer
1. Classification of Assets
Florida law splits an estate into real property (land and structures) and personal property (tangible items, bank accounts, investments). Under Florida Statutes § 732.401 (Classification of Property), the personal representative must determine which assets belong to the decedent alone, and which are held jointly with right of survivorship.
2. Identification and Inventory Process
After appointment by the probate court, the personal representative must locate, secure and value all assets. Florida Statutes § 733.603 (Inventory—Filing) requires filing an initial inventory within 60 days of qualification. This inventory lists:
- Real Property: Legal description, address, and court appraised value.
- Personal Property: Furniture, vehicles, bank and investment accounts, jewelry—itemized with current values.
Florida Statutes § 733.604 (Inventory—Amendments) allows amendments as new assets emerge or values change.
3. Distribution under Intestacy
If the decedent left no valid will, Chapter 732 governs distribution. Key rules (Florida Statutes Chapter 732):
- Surviving Spouse: Entitled to entire estate if no descendants or if all descendants are also the spouse’s children. Otherwise, receives either the entire estate or a share depending on other heirs.
- Descendants: Children inherit per stirpes if no spouse, or share with spouse as above.
- Parents and Siblings: If no spouse or descendants, assets pass to parents equally, then to siblings or their descendants.
- More Remote Heirs: Grandparents, aunts/uncles, cousins.
- Escheat: If no heirs, the estate reverts to the State of Florida.
Helpful Hints
- Begin asset review immediately—missed items delay probate.
- Keep clear records of valuations and appraisals.
- Communicate with potential heirs to manage expectations.
- Review joint accounts and beneficiary designations early—these pass outside probate.
- Consult an attorney if the estate includes out-of‐state property or complex assets.