Following the loss of a loved one, it’s crucial to embark on probate administration as soon as possible. However, knowing which probate procedure will take effect can be confusing if the deceased had assets across state lines. In such scenarios, ancillary probate is implemented to help ensure that assets across state lines are properly accounted for.
This add-on probate process will take place in the state(s) where the deceased owned assets even though they weren’t a resident in that/those state(s). Ancillary probate is essential for effective probate administration because each state has bespoke probate laws. Suppose your family resides in another state, but your deceased loved one owned assets in Florida. In that case, you can anticipate that an ancillary probate will take effect in Florida to handle those specific assets.
Scenarios that require probate
Suppose your deceased loved one invested in real estate in the Sunshine State; ancillary probate will be crucial for the fair distribution of these real estate properties. This add-on probate proceeding may also take effect if your deceased loved one maintained residences in the Sunshine State.
The requirement extends beyond just real estate ownership. Ancillary probate might also be necessary if the deceased had other assets across state lines, such as:
- Business interests: Owning a business entity registered in the Sunshine State.
- Tangible personal property of high value: Valuable artwork, vehicles or collectibles located across state lines.
- Intangible assets: Bank accounts or intellectual property rights registered in the state.
However, it’s crucial to note that assets with designated beneficiaries outside of probate typically wouldn’t necessitate ancillary probate. Additionally, the Sunshine State provides a simplified probate process for all estates with a total value below a specific limit. If the only asset in the state falls under this limit and there’s a valid will, ancillary probate might be avoidable.
If you find out that your deceased loved one owned significant assets in Florida, you can anticipate ancillary probate administration. This add-on probate proceeding can add another layer of intricacy to your legal situation that your family might (understandably) not know how to handle. Ultimately, your family can benefit from seeking personalized legal guidance to help ensure fair asset distribution.
