Several factors will determine the cost of probate in Florida. Ultimately, determining the exact fees and costs associated with a probate case require expert legal knowledge. In this article, you will have an overview of the fees and costs involved in Florida’s probate process.
Is Probate in Florida Expensive? – Understanding the Basics
When a person dies in Florida, the person in control of the decedent’s will must submit the document to court with a petition for probate. To determine whether executing the estate will require probate, the court will assess each case individually.
Technically not considered as probate, disposition without administration applies only to cases in which the decedent’s final expenses were more than the decedent’s remaining assets.
If the total value of the decedent’s estate is less than $75,000 or the decedent died longer than two years, the estate may qualify for summary administration. Under normal conditions, the whole process might take place within a few weeks.
If the total value of the decedent’s estate exceeds $75,000 or the decedent died less than two years ago, the estate must be formally administered. Formal administration tends to be the longest and most expensive form of probate in Florida.
Is Probate in Florida Expensive? – Calculating Probate Fees
In any case, the first step to anticipate the fees involved in formal administration is determining the value of the decedent’s estate subject to probate.
Florida Statute 733.6171 outlines the fee base used by attorneys to calculate the compensation for their services administering the estate. These terms apply only to formal administration, as summary administration has reduced filing fees and costs.
The statute provides that “compensation for ordinary services of attorneys in a formal estate administration is presumed to be reasonable if based on the compensable value of the estate, (…) as provided in the following schedule:
- One thousand five hundred dollars for estates having a value of $40,000 or less
- An additional $750 for estates having a value of more than $40,000 and not exceeding $70,000
- (An additional $750 for estates having a value of more than $70,000 and not exceeding $100,000
- For estates having a value in excess of $100,000, at the rate of 3 percent on the next $900,000
- At the rate of 2.5 percent for all above $1 million and not exceeding $3 million
- At the rate of 2 percent for all above $3 million and not exceeding $5 million
- At the rate of 1.5 percent for all above $5 million and not exceeding $10 million
- At the rate of 1 percent for all above $10 million”
Also, statutory provisions permit an attorney to charge an hourly rate and additional probate fees in complex cases, such as those involving will contests, probate litigation, etc.
Ultimately, an attorney is allowed to determine a different method of compensation, as long as the method does not conflict with the provisions under Fla. Stat. 733.6171(2) and both parties (client and attorney) understand it clearly.
Probate Does Not Need to be Overwhelming – Immediately Contact an Expert Probate Attorney in Florida
Are you afraid of hefty probate fees and costs? Worry not, we are willing to find a cost-effective solution for your case. Waste no time – immediately call Attorney Romy B. Jurado at (305) 921-0976 or email Romy@juradolawfirm.com to schedule a consultation.