How Probate Laws Work in Florida
Probate is the legal process through which the court gathers, verifies, and distributes the assets left by a deceased person.
In most cases, a person leaves a will outlining how and to whom they want the property to be distributed on their death. However, in case someone dies without leaving a will, the property distribution falls under the probate laws of the state.
While this process is more or less similar for all states, the required timeline and the statutes governing the details may differ. In Florida, not all estates require to go through the process of probate. If the assets are jointly owned or have a beneficiary already designated, probate may not be necessary.
It is required in case the person was the sole owner of the assets and had died without leaving a will or entrusting it to any living trust. In such cases, consulting Florida Probate Administration Lawyers can help you understand the required legal procedures.
The Different Types Of Probate In Florida
There are 3 main types of probate according to the law in Florida – formal administration, summary administration, and disposition without administration.
Formal administration is the most common process of probate. In this case, the nominated executor or any other interested party can ask the court to appoint them as the personal representative of the deceased person’s estate. The court provides notice to all the beneficiaries to give them a chance to raise objections or produce a valid will (if available).
Summary administration opts-in case the value of the deceased person’s property does not exceed $75000, or if the death occurred more than 2 years earlier.
Disposition without administration or no probate is used in special cases, and it involves entirely doing away with the hearing. This option is available only when the deceased person has limited assets, and their value would be less than the final expenses after going through probate.
How Long Does The Entire Process Of Probate Take?
There is no fixed time defined for probate in Florida. The total time required to complete the process depends on a variety of factors. These include the size of the concerned estate, the time required for identifying and verifying all the assets, disputes raised by beneficiaries, etc.
On average, the entire procedure may take anywhere between 6 months to a year. However, it might take longer depending on the above-mentioned factors.
Is It Necessary To Hire An Attorney For Probate In Florida?
In normal circumstances, it is mandatory to hire Florida Probate Administration Lawyers to represent you for all the court hearings. In fact, Florida is one of the few states which determines the fees for the lawyers based on the size of the estate.
According to the Florida statutes, the attorney fees will be:
$1500 for estate values of up to $40000
$2250 for estate values between $40000 – $70000
$3000 for estate values between $70000 – $100000
$3000 +3% of the value over $100000 for estate values between $100000 – $1million
$3000 +2.5% of the value over $1million for estate values between $1million – $3million
$3000 +2% of the value over $3million for estate values between $3million – $5million
$3000 +1.5% of value over $5million for estate values between $5million – $10million
$3000 + 1% of the value over $10million for estate values more than $10million
The above fee is for ordinary representation work only. The attorney has the right to ask for a higher amount in case they have to handle extra work like will contests or other disputes.
However, probate administration lawyers aren’t expected to mandatorily abide by the above compensation rates. The state also allows them the right to charge fees in a different manner than that laid out in the statute.
