When Will I Receive My Inheritance in Aventura?

After the death of a loved one, the immediate reaction is usually crushing grief. However, you may also appreciate the silver lining of a passing loved one, namely your inheritance. How long do you have to wait before receiving your inheritance in Aventura? What if you’re dealing with unexplained delays? These are questions you might want to raise with an experienced probate attorney in Aventura.

The Personal Representative Determines When You Receive Your Inheritance

Assuming the assets in question will pass through probate before you receive them, the court and personal representative will determine when you will receive your inheritance in Florida. This is the individual selected by the decedent when they wrote their Will, and this person is responsible for locating assets, paying off debts, and finally distributing the remaining assets to the beneficiaries (including you).

As a result, you might want to contact the personal representative and ask for an update on the situation. A responsible personal representative will be communicative, and they may provide you with a general timeline. A less responsible personal representative may fail to communicate. An even more negligent personal representative could fail to do anything at all, leading to unnecessary delays as you wait for your inheritance.

Do the Assets Even Need to Go Through Probate?

Of course, you only need to wait for the probate process if the assets you stand to inherit are eligible for this process. Many assets do not go through probate, and this type of inheritance is associated with faster wait times.

For example, a beneficiary designation allows an asset (usually a financial account) to pass to a beneficiary almost instantly after the passing of the decedent. In this situation, you might not need to wait very long at all before inheriting stocks, a bank account balance, a retirement account, or something similar. A certified death certificate is required to collect/claim these accounts.

Real estate could also pass to you outside of probate through something called a “right of survivorship.” If you are a joint tenant on the property in question, you inherit the property automatically if the other owner passes away. This arrangement is common for married couples.

Finally, assets transferred into a trust could also pass to you relatively quickly after the death of your loved one. All trust assets can avoid probate. However, the Trustee may be responsible out of trust assets to pay for debts or expenses of the decedent.  If you are the beneficiary of a trust, consider reaching out to the trustee for more information. Note that there are often “conditions” associated with trust assets. For example, a spendthrift provision might ensure that you receive your inheritance gradually over a long period of time rather than all at once.

Can an Aventura Probate Lawyer Help Me Get My Inheritance? 

If you want to find out when you’ll receive your inheritance in Aventura, it might be worth speaking with a probate lawyer. If you’re simply searching for more information, these legal professionals can educate you about the probate process, trusts, beneficiary designations, and so on. If you’re dealing with unexplained delays and you want to take action, a lawyer can also help. Contact 411 Probate for more information today.

Source:

floridabar.org/public/consumer/pamphlet026/