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ESTATE ADMINISTRATION
Estate administration includes the marshalling of assets, payment of
creditors and funding or payment of distributions or gifts. The
Administration may be by trust (non-probate) or by probate.
Probate is the court-supervised process of identifying, gathering
and distributing a decedent's assets; the probate process also
provides for the supervision of paying taxes, claims and expenses of
the decedent. Probate is governed by Florida Statutes.
The probate estate only includes assets in the decedent's sole name
at death which contain no provision for automatic succession of
ownership at death. For example, a bank account in the sole name of
a decedent is a probate asset, but a bank account held jointly with
rights of survivorship with another, is not a probate asset. A life
insurance policy, annuity or individual retirement account that is
payable to a specific beneficiary designated on a beneficiary
designation form is not a probate asset. Real estate titled in the
sole name of the decedent is a probate asset (unless it is
homestead), but real estate held as joint tenants with rights of
survivorship or in tenancy by the entirety, or in the individual’s
trust, is not a probate asset. These examples are only intended to
be illustrative.
Estate administration without probate (or court supervision) is
similar but does not require the court supervision or approval of
matters pertaining to the estate.
Ms. Lombardi sees her role as an advisor and counselor in the
settlement and administration of trusts and estates.
OFFICE
LOCATION
Jeanette M. Lombardi, P.A. | 3033 Riviera Drive | Suite 202 | Naples, Florida 34103
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MAP
& DIRECTIONS
Phone: (239)403-9430 | Fax: (239)643-7017 | Email:
jeanette@jmlombardilaw.com
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