What happens when additional property is discovered after an estate is closed?Posted September 22, 2019 in Florida Probate Litigation
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What happens when additional property is discovered after an estate is closed?
Although somewhat of a rarity, there are times when additional property is found after an estate has already been closed and after distributions have already been made to the beneficiaries. Sometimes an unknown bank account or life insurance policy surfaces.
In Florida, the process is called a “Subsequent Administration” and Florida Probate Rule Rule 5.460 governs that process:
If, after an estate is closed, additional property of the decedent is discovered or if further administration of the estate is required for any other reason, any interested person may file a petition for further administration of the estate. The petition shall be filed in the same probate file as the original administration.
The petition shall state:
(1) the name, address, and interest of the petitioner in the estate;
(2) the reason for further administration of the estate;
(3) the description, approximate value, and location of any asset not included among the assets of the prior administration; and
(4) a statement of the relief sought.
The court shall enter such orders as appropriate. Unless required, the court need not revoke the order of discharge, reissue letters, or require bond.
FL ST PROB Rule 5.460
The key thing to note is that any interested person can move to reopen the estate. That was recently re-affirmed by the Third District Court of Appeal in
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