
Everyone makes mistakes, but when it comes to probate in Florida, some errors can drain your inheritance and drag out the process for months or even years. Having handled countless probate cases, I’ve seen families lose significant time and money due to simple oversights that could have been easily avoided.
1. Trying to Handle Complex Probate Without Professional Help
You might think you’re saving money by handling probate yourself, but this often backfires. Recently, I worked with a family who spent several months trying to navigate probate alone, only to realize they’d filed the wrong documents and missed crucial deadlines. Those mistakes cost them three times what they would have paid an attorney initially.
Consider this: There are indeed set rules of Florida probate courts regarding almost every aspect of practice, including writing and filing, service, and notification. A single misstep can lead to rejected submissions, further procedural timeframes and other costs involving courts.
2. Distributing Assets Too Early
The excitement of receiving an inheritance can lead to hasty decisions. Some personal representatives start handing out assets before paying creditors or getting court approval. This is a serious mistake that can result in personal liability.
Here’s what many don’t realize: Florida law requires a specific order of operations for paying debts and distributing assets. Jumping the gun can leave you personally responsible for estate debts or force you to recover distributed assets.
3. Mishandling the Homestead Property
Florida’s homestead laws are notoriously complex. I’ve seen countless families assume they can simply sell mom or dad’s house, only to discover they’ve violated homestead protection laws.
The mistake often lies in not understanding that Florida homestead property follows special rules for:
- Protection from creditors
- Restrictions on how it can be devised in a will
- Rights of surviving spouses and minor children
4. Overlooking Tax Implications
While Florida doesn’t have a state estate tax, failing to consider other tax implications can be costly. Many executors miss opportunities for:
- Step-up basis adjustments for inherited property
- Income tax planning for the estate
- Estate closing requirements with the IRS
One family I worked with tens of thousands in tax benefits because they sold inherited property without proper tax planning.
The biggest headache in probate often comes from disorganized records. When executors don’t keep detailed accounts of:
- Estate expenses
- Asset distributions
- Creditor communications
- Time spent on estate matters
They often find themselves unable to defend their actions when beneficiaries question their decisions.
The best way to avoid these costly mistakes is to:
Get Professional Help Early: Consult with a qualified probate attorney before making any major decisions. Most offer free initial consultations.
Create a System: Set up organized filing systems for all estate-related documents from day one.
Communicate Regularly: Keep all beneficiaries informed of major decisions and progress. Good communication prevents disputes.
Understand Your Role: If you’re named as personal representative, take time to learn your responsibilities and limitations under Florida law.
Record Everything: Maintain thorough documentation of all transactions, communications, and decisions related to the estate.
What you should know about probate now is that it does not have to be stressful. You don’t have to fall for these common pitfalls and get the help you need to honor your loved one’s wishes and safeguard your family’s inheritance.
If you are planning for your future or in the unfortunate event that you are currently wading through probate, taking the time to learn about these risks can save your family time, energy, and money.