In Florida what happens to a person’s assets if they die without a will? Under Florida probate law, if a person dies without leaving a will the decedent’s estate is dealt with under Florida’s Intestate statutes. Even if a Florida resident dies intestate, the decedent’s assets will be transferred to their family members. Only when there are no family members will the assets escheat to the state or be transferred to the state. Generally Florida’s intestate statutes go to great lengths to find a relative to leave a decedent’s assets to.
In Florida the decision to create Florida Will that appoints a personal representative to administer your probate assets is a wise decision. It is important to consider who can be a personal representative. With Florida probate law, the personal representative can be an individual, bank or a trust company. For an individual to act as a representative they must be legal residents of the state of Florida or a relative or spouse of a sibling, parent, or child. A person who is not a legal resident and is not closely related to the decedent cannot act as an executor or a personal representative of the decedent’s estate. In addition a trust company that is incorporated under Florida laws or which is a bank or lending agency and is licensed to extend fiduciary lending in the state of Florida can also act as a personal representative of a Florida probate.
Update:
Jacksonville Probate Lawyer, David Goldman has put together a Florida Probate Handbook that is being offered free to readers and visitors of his websites. If you would like a copy, visit the Free Florida Probate Handbook web page, fill out the form, and one will be sent to you within 24 hours by email.