How Long Does an Executor Have to Settle an Estate in Florida? 2024

The executor of an estate has a legal obligation to settle an estate as efficiently as possible in Florida. Many people may ask the question, how long does an executor have to settle an estate in Florida? The exact time it may take to go through the legal process depends on a variety of factors and is different for every person and every estate. The complexity and size of the estate and whether any disputes arise play into the total time it takes to reach a settlement.

General Timeline

The timeline for settling an estate may not be the same for everyone, as circumstances can greatly influence how long the process takes.

A general timeline for settling an estate in Florida may look like the following:

1. Starting the probate process: If a will exists, the executor must file a petition for probate in court, typically within 10 days of the person’s death.
2. Notice to creditors: The personal representative then has about a month to give notice to creditors. This can be done a variety of ways, but a popular route is by posting an announcement in a newspaper.
3. Claim period for creditors: After the notice is published, creditors have three months to file claims against the estate.
4. Settling debts and distributing assets: Although the state of Florida does not give an explicit time frame in which an executor must settle an estate, they do expect it to be done in a timely manner.
5. Closing the estate: A petition must be filed within a couple of years of the decedents death to avoid potential issues with the court. This is done after debts are settled, tax obligations are taken care of, and all assets have been distributed appropriately.

Expected Time Frame

Although the exact time frame is debatable, an estate can be expected to be settled within a few months for simple estates and a year or more for more complex estates. The probate process for Florida estate settlements typically takes about six months to a year, depending on all factors involved.

The factors of each situation play an important part in the time it takes to settle an estate. Factors can include when a will has to be validated due to someone contesting it or when property and assets have to be sold to pay off a substantial amount of debt. These circumstances can lengthen the probate process significantly. Even when dealing with an estate that is considered to be simple, creditors have to file claims within three months.

Federal Estate Tax Return

Whether an estate has to file a federal estate tax return affects how long it will take to settle as well. In the event the estate does not have to file the federal estate tax return, all documents, including the final accounting, are due to the court within 12 months after the Letters of Administration have been issued to the personal representative.

On the other hand, if the estate does have to file a federal estate tax return, the executor has nine months after the decedents death to file the return. Certain circumstances may allow for a six-month extension. All relative documents are due within 12 months of the date of the tax return; however, an extension can be granted for this as well if necessary.

FAQs

Q: How Long Does the Executor Have to Pay the Beneficiaries in Florida?

A: In Florida, the executor of an estate does not have a specific deadline to pay the beneficiaries. However, the personal representative has to wait three months after publishing a notice to creditors, and they should pay the beneficiaries within a year to avoid accruing interest.

Q: What Is the 10-Day Rule for Probate in Florida?

A: The 10-day rule for probate in Florida is in reference to the will being filed in the court. The will of a deceased person must be filed with the probate court within 10 days of their death. The rule applies to both formal and summary administration proceedings. To avoid delays, the executor should file promptly. Potential legal claims from beneficiaries could arise if the will is not filed within a reasonable amount of time.

Q: Can an Executor Sell Property Without All Beneficiaries Approving in Florida?

A: An executor can sell a piece of property without all the beneficiaries approving if the sale of the property is in the interest of the estate and beneficiaries and complies with the decedent’s wishes and state law. The executor must give notice to the beneficiaries of the sale, but they do not need approval. All beneficiaries must sign the contract if it is the decedent’s homestead. Beneficiaries have a limited time to object to all sales.

Q: How Long Do You Have to Close an Estate in Florida?

A: The time you have to close an estate in Florida is based on a number of factors. Although there isn’t an exact timeline, there is a deadline for certain situations. For instance, if you do have to file a federal estate tax return, all documents are due within 12 months after the court issues Letters of Administration. If you do have to file, all documents are due within 12 months of the date of the tax return.

Contact the Law Office of Douglas A. Oberdorfer, P.A.

If you have questions or need help closing an estate in Florida, please contact the Law Office of Douglas A. Oberdorfer, P.A. Our estate planning lawyer is well-versed in Florida laws and regulations in reference to estate timelines, as well as the rest of the probate process.

Whether you need assistance with a complex estate or summary administration, our estate planning attorney can help you with your probate case in a timely manner. Our office helps ensure estates are settled efficiently in accordance with Florida law while minimizing the stress the process puts on families.

Our legal team provides a personalized approach and gives you the confidence you need to get through this challenging time. Give the Law Office of Douglas A. Oberdorfer, P.A., a call today to get started with a consultation.