What Isn't Part of Probate in Florida?

Assets that usually avoid probate

• Life insurance and annuities with a living named beneficiary
• IRAs, 401(k)s and other retirement plans with a living named beneficiary
• Pay-on-death bank accounts (§ 655.82) and transfer-on-death brokerage accounts (Chapter 711)
• Joint accounts and property with right of survivorship , including property married couples own as tenants by the entirety
• Assets titled in a revocable living trust
• Real estate conveyed by a Lady Bird (enhanced life estate) deed

Where people get surprised

• The named beneficiary died first and there's no backup, so the asset falls back into the estate
• The estate was named as beneficiary
• The trust was signed but never funded
• Out-of-state real estate in the person's own name, which needs a probate in that state too
• Florida homestead that passes to heirs often still needs a court order determining homestead status so the family can sell or insure title

Why it matters

Non-probate assets avoid the delay, cost and public filing of probate. Assets payable to a named beneficiary also generally aren't available to the estate's creditors. But non-probate transfers only work if designations are current and coordinated with your overall plan, otherwise one child can end up with far more than intended.

We coordinate every account and deed as part of a complete Florida estate plan. Related: Does a will avoid probate?

Talk with a Florida estate planning lawyer

Trusted Elder Law & Asset Protection helps families in Pensacola, Escambia, Santa Rosa, Okaloosa and Walton counties plan ahead. Call 850-607-2222 or schedule a free Peace of Mind Strategy Session.

This article is general information about Florida law, not legal advice for your situation.