Florida Probate options

[liveneasy]

What is the name of your state? Florida

Mother died 2 weeks ago. Left typed will, 2 witness's, not notarized. Statements of witness's can be obtained. Only heirs are my brother and I. Bank accounts, CD's, IRA and stocks were ITF and/or POD with named beneficiaries.

Only other property is Home [homesteaded] contents and 2 cars. No mortgage, liens or unpaid debts. Mom asked me [in writing included in the will] to split the property between both of us. Equal share... not contested by either my brother or myself.

Florida has a small estate statute.... 'That the value of the entire estate subject to administration in this state, less the value of property exempt from the claims of creditors, does not exceed $75,000 or that the decedent has been dead for more than 2 years'.... qualifies for summary administration.

My question is: is the home [homestead] considered exempt property?

I know that personal vehicles and $10,000 in home furnishings are considered exempt... but what about the house.

If it is... them my brother and I can petition the court for a summary administration.

All funeral expenses and medical bills have been paid, utility bills are current and the few items listed in her codicil have been disbursed. There is a current homestead exemption for Florida property taxes, and the value of the home does not require filing of an IRS tax statement [form].

 

[BlondiePB]

Nice Work

732.401 Descent of homestead.--

(1) If not devised as permitted by law and the Florida Constitution, the homestead shall descend in the same manner as other intestate property; but if the decedent is survived by a spouse and lineal descendants, the surviving spouse shall take a life estate in the homestead, with a vested remainder to the lineal descendants in being at the time of the decedent's death per stirpes.

(2) Subsection (1) shall not apply to property that the decedent and the surviving spouse owned as tenants by the entirety.



732.4015 Devise of homestead.--

(1) As provided by the Florida Constitution, the homestead shall not be subject to devise if the owner is survived by a spouse or minor child, except that the homestead may be devised to the owner's spouse if there is no minor child.

(2) For the purposes of subsection (1), the term:

(a) "Owner" includes the grantor of a trust described in s. 733.707(3) that is evidenced by a written instrument which is in existence at the time of the grantor's death as if the interest held in trust was owned by the grantor.

(b) "Devise" includes a disposition by trust of that portion of the trust estate which, if titled in the name of the grantor of the trust, would be the grantor's homestead.