# Summary Probate vs Full Administration Probate, with Attorney Alexis Richards ## Метаданные - **Канал:** LawTube - **YouTube:** https://www.youtube.com/watch?v=T4IJvgxkvtg ## Содержание ### [0:00](https://www.youtube.com/watch?v=T4IJvgxkvtg) Segment 1 (00:00 - 05:00) Guess my guest in studio today is attorney Alexis Richards. Alexis, welcome to the radio show. — Thanks for having me, Tom. — Alexis, you do the probates here at our office and I know we're keeping you very busy. — Oh, yeah. — We here at the Olsson Law Group are all about helping people to avoid probate, but you know, it's still going to happen. People pass away and there's going to be assets that need probate, whether it's a house or a bank account. Uh we can handle it all for them. — Absolutely. We have different kinds of probate depending on what the value of the estate is and what the assets of they are. What are the two major typical types of probate? — The two types of probate in the state of Florida are formal administrations and that's when an estate values over $75,000 and then a summary administration is a shorter version of probate that's available when an estate is under 75,000. And when we're calculating that $75,000, that does not include the value of the home, the homestead itself. — Correct. — So that if mom passed away and all she owned was her home, that maybe is worth $500,000 and $50,000 in the bank, she qualifies for summary administration. — Yep. Because the state of Florida um considers the homestead of someone exempt property. And so there is one more qualification that is in that to do summary administration there can be no creditors meaning the person that passed away they don't owe any money to doctors hospitals credit cards etc. Sometimes they might financially qualify for summer administration but because they have creditors we have to do a full administration. — Absolutely. — The differences are that in a summer administration we're not giving notice to creditors because there's no creditors. But in a full administration, we do give notice to creditors, doctors, hospitals, credit cards, etc. And it is up the client. The executive would notify you of a here's a creditors and they typically find those creditors by getting the mail. — That's correct. — What do you do when you're how do you notify a creditor that the probate's going on? And what's the process from there? So the process for notifying a creditor is the personal representative does their due diligence where they will give me the information of any creditors that they have and then I send a notice by certified mail to the creditor and then they have until the creditor deadline period which is about 3 months um to file a claim against the estate and if they don't then their claim from there is barred — at the end into the probate estate, you tell the executive, hey, here's all the claims in the estate. They have an opportunity to object if they say, hey, that's not a valid claim. We should not be paying that. — Just because they creditor files a claim, doesn't mean they're necessarily going to get paid. — Exactly. — But if it is a valid claim, — before you can pass out the money to the heirs, maybe the children, you got to make sure that creditor gets paid. — Exactly. And one thing that creditors a lot of times fail to do is they don't provide proof of what they're owed. — Okay. — I've been finding that a lot lately actually where um they're filing claims for x thousands or hundreds of dollars but not showing why. — Is that an individual a person filing that claim or is that financial institutions doing that? — Financial institutions and doctors. Well, if they don't give the basis for that claim or the invoices or whatever that goes with it, does that mean you guys are going to automatically object to it? — I do. — Okay. Well, good for you guys. Now, if it is a valid claim, before you can close the estate and pass out the money to the heirs, you have to prove to the probate judge that these creditors have been paid. Exactly. How do you do that? — So, we do that by filing a satisfaction and release of claim. So a lot of times, you know, because I'm dealing with big banks, big institutions, where it requires a lot of followup to make sure that I get the document that we need to show that they were paid. And so then the judge can see, okay, yep, they their claim was satisfied. — So for these creditor claims in a probate estate, the executive, let's say it's the son of mom that passed away, he typically he's getting mom's mail. He's seeing which kind of what kind of bills are rolling in doctors, hospitals, credit cards. — He's giving those bills to you. You're then turning around and writing a letter to this this creditor by certified mail — and uh then they have an opportunity to file a claim in the estate. And so it's a process. — It is a process. It takes time and also um verifying that the claim itself is legitimate. — Okay, folks. If you've got a question up --- *Источник: https://ekstraktznaniy.ru/video/43679*