Palm Bay Probate - Probate in Florida
When a loved one passes away, there are many difficult things to think about, do, and decide in order to move on with your life, both in putting their final wishes into action and in allowing yourself to let go. That process, already so painful for most, is made more difficult by the fact that the government causes all estates that are not jointly owned to go through probate upon the death of the holder.
The probate process is complicated and confusing, and is made more so by the local regulations that are often placed on the process in addition to the Florida state regulations, making a whole other set of rules to be aware of and to follow. Because of the complicated nature of this process, it has been mandated by Florida state law that a probate lawyer be hired to see you through the process.
Your probate lawyer will help you make sense of this confusing process, teaching you what you need to know about probate in Palm Bay and helping you to get through probate as quickly as possible and with as little expense as possible as well. 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 Palm Bay Probate lawyer because a Palm Bay probate attorney would be more familiar with the local Judges and Court system, and that would prove very helpful.
The probate process can take anywhere from six months to several years, and you want it to be as short as possible. A probate lawyer will help you to keep that time as short as they can make it. The costs for a probate attorney are 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.
Careful advance planning can make the wheels of probate run far more smoothly. Contact a Palm Bay Probate Lawyer today for assistance with estate and probate planning, and make it easier for your family and loved ones during these difficult times.
