Formal and Summary Administration

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Formal & Summary Administration Law

Tampa Formal And Summary Administration Lawyer

The two types of probate are formal and summary administration. Formal administration is the traditional form of probate that includes everything needed for handling an estate upon someone’s death. Summary administration is a quicker alternative to traditional estate administration for those who qualify.

 

Whether you meet the requirements for summary administration or wish to adopt formal administration, Older Lundy Koch & Martino offers both formal and summary administration services to handle your estate.

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Formal & Summary Administration Lawyer Tampa

Florida Formal And Summary Administration Law

Formal administration is more complex as it addresses every aspect of your estate which is why this method is typically carried out in the courtroom. Topics of probate estate under formal administration include:

  • Appointing a representative
  • Notifying any involved parties
  • Executing trusts and wills
  • Paying off any debts
  • Recording inventory
  • Distributing assets
  • Filing documents
  • Closing the estate

Summary administration is faster as it does not require as much courthouse involvement, and is reserved for those who meet one or all of the following requirements:

  • The time of death has passed two years
  • The total value of probate assets is under $75,000

Opting for summary administration is typically more affordable than formal administration and has a much shorter process. To compare, summary administration typically doesn’t last over 6 months while formal administration can extend to over a year. You need estate planners who can help you carry out your will in either scenario.

Place your trust in the estate lawyers at Older Lundy Koch & Martino. We will discuss your options between formal and summary administration to plan out your estate in a way that best fits your wishes after death.

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