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A Certified Probate Real Estate Specialist (CPRES) is a real estate agent who has completed an educational program to become an expert in the probate process. They specialize in helping families navigate the estate process after a relative or benefactor passes away.
PROBATE in CHARLOTTE COUNTY FLORIDA
What is Probate? What are the Different Types of Probate in Florida?
Probate, also called “estate administration,” is a court process that transfers assets owned by a deceased person to living people. In probate, the person who died is referred to as the “decedent.” Anything that the decedent owned when they died is collectively referred to as the “estate.” An estate can contain bank accounts, real estate, vehicles, guns, tools, jewelry, or any other item owned at the time of death. If a decedent had a valid will, that document directs who will be in charge of the probate process and who will receive the decedent’s assets upon their death. If a person did not have a will, their estate will be divided among their next of kin (the intestate heirs) Probate is needed even when a decedent has a valid will.
- Formal Administration - The traditional probate process used when the estate's value exceeds $75,000, or the decedent has passed within the last two years. This process typically involves the court appointing a personal representative to handle the estate's administration.
- Summary Administration - A simplified process for estates valued under $75,000 or when the decedent has been deceased for more than two years. It requires fewer court filings and may be completed more quickly than formal administration.
- Disposal without Administration - For small estates with no real property, typically covering only the cost of funeral expenses or medical bills.
- Ancillary Probate - Is for out of State residents to be able to settle a probate estate of property located in Florida.
REVOCABLE VS IRREVOCABLE TRUST
What is the Difference Between a Revocable Trust and Irrevocable Trust?
A Revocable Trust, known as a Living Trust A successor trustee is named who will act on the trustee's behalf. These trustee's will dictate what happens to the assets, not a court or state law. The Probate process is eliminated, records are private and cannot be searched, the terms of the trust can be modified or changed by the grantor after its creation so long as they are competent. Living Trusts are a good way for people to manage their assets or protect them, should they become ill, disabled or challenged by age.
An Irrevocable Trust, cannot be modified after creation, unless the beneficiaries consent to the modifications. Assets are not subject to estate tax after grantor's death. Allows individuals to avoid probate court. Advantages of Irrevocable Trusts include no taxes or capital gains for the seller, asset value in the trust remains unchanged, the profit from the sale can be used for a new investment or paid out to the beneficiaries, and finally the assets in the trust are protected from creditors.
Need Estate Planning Advice?
Kristin’s preferred partner for estate planning and probate legal services is Nathan Dougherty, PA. With his extensive experience and alignment with Kristin’s core values of integrity, trust, and professionalism, Nathan provides the legal expertise necessary to guide clients through the complexities of estate planning and probate law.
WHAT HAPPENS DURING THE PROBATE PROCESS?
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Meet Kristin
Kristin is a dedicated REALTOR® and a Seller Representative Specialist (SRS®) who holds the Certified Real Estate Probate Specialist Certification. With two decades of real estate experience in Charlotte County, Kristin not only understands the complete probate process but also brings a compassionate approach to helping families navigate the complexities of estate property sales.
More than just a real estate expert, Kristin is known for her natural empathy and ability to guide clients through some of life’s most challenging moments. Kristin provides the professional expertise and personal support you need every step of the way.