Probate & Estate Administration
See Session & Pricing Below:
What is Probate?
Navigating the administration or probate of a loved one’s estate can have you feeling lost at sea. Let us help guide you through.
Probate is defined as the action or process of proving before a competent judicial authority that a document offered for official recognition and registration as the last will and testament of a deceased person is genuine, the process of administering an estate, & / or the judicial determination of the validity of a will. When any person passes on, it is prudent to discuss your expectations, responsibilities, and liability with a licensed attorney. What do your tax implications look like? What filings are required? Where will creditors go for payment? How do you have funds released from the departed’s estate? These questions and many more should be discussed & evaluated when any individual passes. At times, probate may not be required to administer the estate; however, only a licensed attorney can evaluate your circumstance and know what is necessary to move forward. Call us for a free consultation to see if probate is required or how we can help you navigate this process.
Did you know there are different forms of Probate or Administration?
Yes, as a matter of fact there are, all with differing qualifiers, requirements, and thresholds depending on the decedent’s estate. There is Disposition of Personal Property without Administration, Summary Administration, & Formal Administration.
A Disposition of Personal Property without Administration is a proceeding used to request release of the assets of the deceased to the heirs or other qualified parties without Formal Administration. The estate must consist of personal property exempt from claim of creditors and non-exempt personal property that does not exceed the sum of preferred funeral expenses and reasonable medical and hospital expenses of the last 60 days of the most recent illness. The decedent must have resided in the County of filing.
A Summary Administration can be filed if the estate contains less than $75,000 in non-exempt assets, including any assets other than the decedent’s home, or if at least 2 years have passed since the date of the decedent death. This quicker and simpler process allows loved ones to simplify the process of probate avoiding the much lengthier, and expensive counterparts, Formal Administration.
Formal Administration is the most common form of Probate filing. The decedent must have resided or owned property in the County of filing in order to have a personal representative appointed to administer the assets of the deceased party. Due to the close supervision of collection and distribution of assets, a legal representation is required. This process is what most associate with Probate with the conception of those drawn-out circumstances where families feud or insurmountable creditor claims.
Session & Pricing:
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Typically we will meet for multiple sessions, the first to gather the necessary information and additional to review any documents for filing and validate. There will be multiple meetings through out the process, generally in 3-5 phases depending on the size of the estate, creditors that may come forward, & other circumstances we address during your free consultation.
Did you know that Florida Statues provide both attorneys and their clients with fair and equitable payment schedule to probate matters? See for yourself!
Click here to view the online statute.
The following is the payment schedule, as governed by Florida Statue: 733.6171 Compensation of attorney for the personal representative.
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 estates valued above $1 million and not exceeding $3 million.
At the rate of 2 percent for all estates valued above $3 million and not exceeding $5 million.
At the rate of 1.5 percent for all estates valued above $5 million and not exceeding $10 million.
At the rate of 1 percent for all estates valued above $10 million.