What Is Probate and When Is It Required?
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Probate laws vary from state to state. You should contact an attorney or probate court for more information. Estate: Estate refers to the assets and liabilities left by someone upon their passing. Executor: An executor is a person appointed by a will or a court to resolve the financial ...
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In Florida, probate is typically required for estates with a total value of $75,000 or more, excluding the value of the deceased person’s homestead property. If the estate falls below this threshold, it may qualify for a simplified probate process known as “summary administration.” ...
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the seller is also required to hold up their end of the bargain. If you have the financing and you pay them the money required by the contract, they must sell you the home. For whatever reason, the seller may be trying to back out of the deal. They could have gotten a better offer...
Hearing.If a settlement can’t be reached, you may be required to attend a hearing (or multiple hearings). During the hearing, the court will look at the evidence, and the judge will determine whether the will is valid. When can you challenge a will?
Intestate is the term used to describe the situation when someone dies without leaving a will. In this case, a deceased individual's assets are turned over to a probate court, which determines how they are distributed. Revocable Trust vs. Will Example ...