Baker County Probate - Probate in Florida
Losing a loved one is a difficult time for most people and the process can be quite daunting for loved ones to cope with. There are many considerations to keep in mind during the process, including hiring a probate lawyer to administer the estate. There's no time limit that you must adhere to in order to administer an estate, however, hiring a probate lawyer to get the ball rolling as soon as possible is the best option.
Most estates in Florida require a probate lawyer to help you out unless the estate is to be done with disposition without administration - which is usually when the estate is very small or the executor is the sole beneficiary. For every other kind of estate, you will require a probate lawyer to help you get through the administration of the estate, Florida law requires that you have an attorney to do the administration. Formal administration of an estate is a long and complex process and it is a daunting one- call a probate lawyer who can the tasks completed efficiently and with much less stress on the family. You don't have to hire a lawyer in the area where the estate probate will take place nor in the area in which you live. Any licensed attorney in Florida can administer a Florida estate because it's mostly done electronically through fax, phone calls and emails. It is recommended that you hire a Baker County probate lawyer if there is contested litigation that needs to be held in the Baker County courthouse because you will have an attorney familiar with the local rules, judges, etc.
Each estate varies in complexity and there is a wide variety of factors that impact that complexity, but it is generally common that the attorney will charge you pursuant to Florida Statutes Section 733.6171, which states:
733.6171 Compensation of attorney for the personal representative -
(1) Attorneys for personal representatives shall be entitled to reasonable compensation payable from the estate assets without court order.
(2) The attorney, the personal representative, and persona bearing the impact of the compensation may agree to compensation determined in a different manner than provided in this section if the manner is disclosed to the parties bearing the impact of the compensation and if no objection is made as provided for in the Florida Probate Rules.
(3) Compensation for ordinary services of attorneys in formal estate administration is presumed to be reasonable if based on the compensable value of the estate, which is the inventory value of the probate estate assets and the income earned by the estate during the administration as provided in the following schedule:
(a) One thousand five hundred dollars for estates having a value of $40,000 or less
(b) An additional $750 for estates having a value of more than $40,000, but not exceeding $70,000.
(c) An additional $750 for estates having a value of more than $70,000 and not exceeding $100,000.
(d) For estates having a value in excess of $100,000, at the rate of 3 percent on the next $900,000.
(e) At the rate of 2.5 percent for all above $1 million and not exceeding $3 million.
(f) At the rate of 2 percent for all above $3 million and not exceeding $5 million.
(g) At the rate of 1.5 percent for all above $5 million and not exceeding $10 million
(h) At a rate of 1 percent for all above $10 million.
If your spouse passes away, there is a good chance you don't need a probate lawyer to administer the estate. Jointly held survivorship assets are automatically given to the surviving spouse in Florida, however if there is anything that isn't jointly owned, you will require a probate lawyer to help with those aspects.
If the estate that you are dealing with requires administration, you can expect it to take a variable length of time. Most commonly, non-taxable estates that go through formal administration take between six and twelve months and for a summary administration only four to five weeks with a probate lawyer. However, taxable estates can take nearly two years or more to be completed as you will need the IRS to sign off on the Estate Tax Return before the probate process can be completed. Speak to a Baker County Probate Lawyer today!
