If my father passed away and the only thing in his estate is his bank account, what would be the best route to go?

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If my father passed away and the only thing in his estate is his bank account, what would be the best route to go?

Asked on June 18, 2012 under Estate Planning, Florida

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I am so sorry for your loss.  Each state has a small estate law. Small estates are those with limited assets and few, if any, creditors. They can be wither a summary administration procedure or disposition without administration, which is sometimes called a family administration. In order for an estate to qualify for summary administration the gross estate assets have to be less than $75,000 or that the decedent has been dead for more than two years. If the decedent has been dead less than two years, there must not be any creditors of the estate or agreements for payment must be made with the creditors. Family administration is available where the estate assets are either exempt or do not exceed the cost of funeral expenses and medical and hospital expenses of the decedent in the last sixty days.  So either of these may be available if the bank account fits under the guidelines.  You should be able to get the paperwork from the court clerk in the probate court in the county in which your father resided at the time of his death.  Good luck.


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