Closing the Probate Estate

Probate can be a long and drawn-out process. It can last many months or even years. So when the process gets near the end, it can be very exciting.

Closing probate happens when the estate’s remaining assets are finally distributed to beneficiaries. Before this can occur, several key steps must be completed: gathering all probate assets, paying valid creditor claims, filing necessary tax returns, and resolving disputes. Only once these tasks are finished can the executor transfer the remaining assets to the beneficiaries according to the will, or state law, if there is no will.

Once the final distribution is complete and obligations are satisfied, the personal representative can file closing documents with the court and formally end the probate process. Closing formally ends the representative’s liability. Once the judge signs the Order of Discharge, the personal representative’s formal duties end, and they are released from future liability for administering the estate. Here is a look at the process in more detail.

When Probate Can Be Closed

In Florida, the estate can be closed once all major steps of administration are complete: the creditor claim period has passed (at least 90 days after notice), all valid debts and taxes are paid, and all assets are ready for distribution. The personal representative must also prepare a final accounting showing how assets were handled and expenses paid.

Final Documents

To officially end the probate case, the personal representative (often with a probate attorney) files several key documents with the court:

• Petition for discharge. This asks the court to close the estate and release the personal representative from duties.
• Final accounting. This is a detailed report of all estate receipts, payments, and distributions.
• Plan of distribution. This outlines how remaining assets will go to beneficiaries. Once the court approves these and there are no objections, it issues an Order of Discharge closing the estate and discharging the personal representative.

Beneficiary Waivers

If all beneficiaries sign waivers and consents (agreeing to the proposed distribution and waiving the need for a formal accounting), the estate often closes faster and with less court oversight. Without waivers, the court may require a formal accounting and a hearing before issuing the discharge.

Timing and Deadlines

Florida probate rules generally require the final accounting and petition for discharge be filed within about 12 months after Letters of Administration are issued (or within 12 months after any required federal estate tax return deadline), unless the court grants an extension for cause.

Seek Legal Help

Closing a probate estate is an exciting process. It allows you to distribute assets and move on after a loved one’s death.

If you need help with the probate process, get the help you need from Fort Lauderdale probate litigation lawyer Edward J. Jennings, P.A. We will help you navigate the process smoothly and efficiently. To schedule a consultation, fill out the online form or call 954-764-4330.

Source:

trustandwill.com/learn/final-distribution-probate