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My parents estate is over 300,000... Is that why it has to go to probate? The estate if Florida
Cleveland, OH
Viewed 28 times.
Posted 16 days ago in Probate
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No property. The estate consists of Life Insurance Policies, Annuities, IRA's and Mutual Funds. There was a will clearly stating divided among the remaining children. I have the estate account and the letters of Administration. Does it still have to go to probate?
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Answers (3)
Brian Joseph Cohan
This attorney is licensed in Illinois.
Posted 16 days ago.
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Typically, if all of the assets are beneficiary designated, probate is not necessary. This does not absolve the beneficiaries from paying taxes which may become due as a result of their taking of the property.
Elizabeth Smith Schmitz
This attorney is licensed in Ohio.
Posted 15 days ago.
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It is not the size of the estate but the type of property that determines whether an estate needs to go to probate.
Mindy Stein
This attorney is licensed in Florida.
Posted 12 days ago.
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In Florida, life insurance policies, annuities, IRAs and Mutual Funds that had beneficiary designations do not need to be probated.
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