Fort Walton Beach Probate - Probate in Florida
The State of Florida requires that the personal representative named to administer an estate be represented by a lawyer licensed to practice in the state. There are a few circumstances under which a lawyer is not required by law. Specifically, the personal representative does not need representation if the will has only one beneficiary - the personal representative. If you are uncertain whether a will requires probate, or whether you need to be represented by a lawyer in a probate matter, you should seek the advice of an experienced probate lawyer. Because there are differing requirements from county to county, most experts recommend that you seek a local lawyer who is familiar with the important regulations in that area. A Fort Walton Beach Probate Lawyer will understand the requirements and format that must be followed in Oskaloosa County. If you are looking for a Fort Walton Beach probate lawyer, you can check in an online directory by location and specialty, as well as getting recommendations from friends and associates. However, if all matters are settled and uncontested, all attorneys in Florida will be able to assist you.
Probate is the process by which an estate is settled. The process can take several months, and be costly for the heirs. The personal representative of the estate is required to file certain notifications and documents with the court, determine the assets of the estate and handle all the obligations of the estate. The process must be followed to the letter. Any mistakes may require that the process be started again; and mistakes that cause injury to another party - a creditor goes unpaid, for instance - may become the liability of the personal representative. For those reasons, it's recommended that the personal representative always consult their lawyer before proceeding with probate, distributing assets or filing notices or documents.
In general, the probate process begins with the filing of a petition for probate with the Probate Court. The court will determine if the will is valid and appoint a personal representative to handle the administration of the estate. If there is no will, or if the will is contested, probate can become far more complicated. If the will is valid, the personal representative will be responsible for making the appropriate notifications to possible creditors and heirs and making a complete inventory of the estate; handling claims against the estate and checking them for validity, paying claims that are judged valid, filing any outstanding tax forms, paying taxes that are due and distributing the assets of the estate. Each of these steps must follow the proper timing and format.
The assistance of an experienced probate lawyer is vital, so make your choice carefully. Take the time to research your options, check references and qualifications and choose the best Fort Walton Beach probate lawyer you can. The Florida Statutes set forth attorney's fees in probating an estate. They state:
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.
