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Under Florida law there is no requirement to probate a will. When determining whether or not to probate a will it is important to consider the following: What assets must be transferred out of the Decedent’s name? If there are no probate assets there would be no reason to probate…
Category: Estate Administration
For tax purposes, the basis of an asset generally equals its purchase price, and an asset’s basis determines the gain or loss when sold. If, for example, you purchase stock for $50 that you later sell for $75, you have a $25 taxable gain (i.e., $75 sale price less your…
A probate estate may be re-opened after it has been closed and the personal representative has been discharged for several reasons. If assets are discovered after an estate is closed, the estate may be reopened to probate the recently discovered assets. See, e.g., Continental Motors, Inc. v. Rosenthal, 278 So.…
