Safe Deposit Box Probate

Summary

In Florida, the contents of a safe deposit box, such as a coin collection, typically require probate, even if there is a co-lessor. To avoid probate, consider creating a living trust or establishing joint ownership with rights of survivorship. If the owner has already passed away, the collection will likely go through probate, which can take 6 to 12 months depending on the estates complexity and court schedules.

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coin collection
In Florida, a coin collection in a safe deposit box would typically still need to go through probate. However, if the collection is specifically bequeathed in the will, it will be distributed according to those terms during probate.
Are you looking for ways to potentially avoid probate for this coin collection?
yes
In Florida, here are a few ways to potentially avoid probate for the coin collection:
- Create a Living Trust: Transfer the coin collection into a trust, which avoids probate.
- Joint Ownership with Rights of Survivorship: Adding a co-owner could help, but must be done correctly.
Would you like more details on these options?
yes
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Creating a living trust and joint ownership with rights of survivorship can help avoid probate. Here are brief descriptions:
- Living Trust: Transfer the coin collection into a trust, which the trustee manages and distributes according to your wishes, bypassing probate.
- Joint Ownership: Adding a co-owner with rights of survivorship means the coin collection automatically transfers to the co-owner upon your passing.
Would you like to know more about setting up a living trust, or adding a co-owner with rights of survivorship?
the person has already died
Case Rating: *
In the event that the person has already died, the coin collection in the safe deposit box will likely need to go through probate as part of the estate's assets.
Would you like more guidance on the probate process in Florida?
If the coin collection is the only thing triggering formal probate, what is a realistic time frame for probate in this case?
Case Rating: *
The probate process in Florida can vary, but typically, formal probate can take anywhere from * to 12 months. This depends on the complexity of the estate, court schedules, and whether there are any disputes.
Do you need more specific information about the steps involved in the probate process?