Many of the older adults living in Florida are actually residents of another state. Even if they own a house in Florida, they may also own homes in other states too. Snowbirds travel to Florida every winter to escape cold conditions elsewhere.
When older adults who split their time between states die in Florida, ancillary probate proceedings may be necessary. Particularly when the decedent owned real property in multiple locations, their family members and personal representatives can anticipate a relatively challenging probate process.
Those preparing for ancillary probate for a loved one’s estate that contains real property in Florida and elsewhere may need to prepare for the challenges outlined below and other probate complications.
1. Securing the real property
Personal representatives may face challenges when they need to secure and protect real property and multiple locations. They may need to travel or may choose to hire a professional to manage the real property in one location. They generally need to check the property for legal documents and assets that are at risk of misappropriation. They also need to limit the possibility of unauthorized parties gaining access to the property before the completion of probate proceedings.
2. Valuing real property
Real estate markets are vastly different depending on factors such as buyer demand, proximity to popular locations and even local crime rates. Even those with insight into the market in one location may struggle to accurately estimate the fair market value of real property in multiple jurisdictions. A personal representative preparing for ancillary probate proceedings may need to partner with multiple different real estate professionals based on the locations of different holdings owned by the decedent.
3. Complying with laws in multiple locations
Every state has slightly different probate rules regarding probate proceedings and creditor claims. Those administering an estate with real property in multiple different jurisdictions may have to provide creditor notice in each location and may need support to ensure compliance with the law in different jurisdictions.
Personal representatives may need support as they prepare for ancillary probate and administer an estate with real property resources spread out through multiple jurisdictions. Securing assistance as early as possible can help personal representatives limit their risk and more effectively fulfill their obligations to an estate and its beneficiaries.