Monroe County Probate - Probate in Florida
Losing a loved one is a difficult time to bear, and you can rest assured knowing that you need not rush out and hire a probate lawyer right away. Take some time for yourself and your family to cope with the grief and loss before trying to find a probate lawyer to take care of the estate because in Florida, there is no time limit that you must adhere to in order to file probate on an estate, however, the sooner you act on the estate, the better for you and your family. When you are ready to hire a probate lawyer you immediately start the steps in motion to finishing the estate probate.
Every probate is different and requires different time limits to be completed. A non-taxable estate that only requires a summary administration should be completed in four to five weeks. A non-taxable estate that requires a full administration usually takes between six and twelve months to complete. A taxable estate takes approximately two years to complete as you need to wait for the IRS to sign off on the estate tax return before the probate can be accomplished. Due to the fact that all probates are different, and each estate is complex in its own way, the fees for an attorney can vary, though most probate attorney's charge according 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.
The vast majority of estates in Florida require a probate lawyer to administer them. If the estate is small or if the sole beneficiary of the estate is also the executor, then you may not need a probate lawyer to administer the estate and you can do it with disposition without administration. However, all other estates must go through probate and Florida probate law states that you must have a probate lawyer to do the administration on the case. The administration on an estate case is quite complicated and complex and can be difficult for a non-lawyer to do themselves. Even if you have a relatively simple estate, it may be wise to hire a probate lawyer to look over it anyway. If there are contested issues which require court appearances, it would be wise to hire a Monroe County Probate Attorney because a Monroe probate attorney would be most familiar with local courts and Judges, and this would be very helpful.
If you lost your spouse, you may not require that his or her estate go through probate. In Florida, survivorship assets that are jointly held by both spouses are given automatically to the surviving spouse when one passes away. However, there are some considerations with the estate of your spouse, if he or she owned property or assets by themselves.
Don't risk mishandling the estate you have been appointed to protect. You must be certain that all creditors and governmental agencies are properly paid so that the beneficiaries receive their assets free of problems in the future. Only a Florida probate attorney can assist you in this matter.
