Okaloosa County Probate - Probate in Florida
While it is already a hard time and you have a lot on your plate to deal with during the death of a loved one, one of the most important things you can do is hire a probate lawyer to help with the estate.
In most probate cases you will require a probate lawyer to help you, unless you are doing a disposition without administration which is common for very small estates or where the executor is the sole beneficiary of the estate. For all other estates Florida probate law requires that you have a probate lawyer to help you. Even if you don't need a probate lawyer for a formal administration of an estate, there are many rules and technicalities that can become very frustrating if you don't have a probate lawyer to help.
If you don't live in the area where your loved one died, you can use any probate lawyer you wish to administer to a probate in Florida. Estates can be handled by any probate lawyer licensed in Florida. You may choose any probate attorney in the state of Florida who is of convenience to you; however, if there are issues in your probate being contested and that would require court appearances, then it would be wise to have a Okaloosa Probate lawyer because an Okaloosa probate would be more familiar with the local Judges and Court system, and that would prove very helpful.
In the event of a spouse passing away, you most likely don't require an Okaloosa probate lawyer to help you with the probate. The survivorship assets, those that are jointly held by a wife and husband, are given automatically to the surviving spouse.
If you do require an estate to go through probate, after you have hired a probate lawyer you can expect that the probate should take between six and twelve months for formal administration and between four and five week for a summary administration for nontaxable estates. Taxable estates require the IRS to sign off on the Estate Tax Return before they can be completed and usually takes two years to complete.
A quick call to a probate lawyer will help you find out if you require the services of a lawyer or not. In most cases, you will, however, and it's best to get that representation as soon as possible.
If your loved one had no will, first, be certain there isn't one that was put away somewhere. Once you are certain, contact a probate lawyer for help. There are succession laws in Florida that determine who is an heir and beneficiary to the estate and your probate lawyer can help you determine who that person, or people, could be. There is no deadline of time for a probate to be conducted in Florida.
The fees for a Florida probate attorney are usually charged 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.
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. Contact a Okaloosa County Probate Lawyer today!
