Panama City Probate - Probate in Florida
Are you looking for answers about how to probate a will in Panama? Your best source of information about Panama probate matters is a Panama probate lawyer who has the experience and expertise to answer any question you may have. There are, however, some general facts about entering a will into probate and how the process of probate works that might be helpful. If you need further information, you can find a Panama probate lawyer through our listing of lawyers who practice in the Panama area.
How do I initiate the process of probate in Panama?
If the decedent was a resident of Panama and there is a will, a copy of the will should be filed with the county Clerk of Circuit Court within ten days of knowledge of the decedent's passing. You'll also need a copy of the death certificate, and a filing fee. Once the will has been filed, you'll need to file a Petition to appoint a personal representative to administer the estate. There will be a filing fee due at the time of filing. Under most circumstances, the personal representative will have to be represented by an attorney throughout the probate process.
Why do I need a probate lawyer if I'm the personal representative in a probate matter?
You need a probate lawyer for your own protection, and to ensure that the administration of the estate observes all the formalities properly. Under Florida law, if you make a legal mistake in the administration of the estate, you can be held liable for injuries resulting from your error. For example, if you distribute some of the assets of the estate before all of the debts are settled and as a consequence, there isn't enough in the estate to satisfy a debt, you may have to pay it yourself.
Who inherits if someone dies without a will?
If someone dies without a will, the Florida Probate Code directs the distribution of assets according to rules of Intestate Succession. If you want a say in how your assets are distributed after your death, it's vital that you execute a will.
What are the responsibilities of the personal representative?
In Florida, the personal representative for an estate serves the same responsibilities as the executor in other states. The personal representative is responsible for identifying, gathering, valuing and safeguarding the assets of the estate, and filing an inventory of those assets with the court. He or she will be responsible for notifying all interested persons of the probate process, and locating creditors of the decedent to make arrangements to satisfy any outstanding debts. If there are taxes due, the personal representative is responsible for filing tax statements and seeing to payment. Finally, the personal representative arranges for the transfer and distribution of the estate according to the wishes of the decedent as spelled out in the will.
Does my probate attorney have to be in the same county where the decedent died?
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 Panama probate lawyer because a Panama City Probate Lawyer would be more familiar with the local Judges and Court system, and that would prove very helpful.
How much will it cost to probate an estate?
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.
As you can see, the administration of a will under probate is a complex and time consuming matter. If you're uncertain whether you should have a will, or whether you require a lawyer's representation for probate, contact a Florida probate lawyer for more information and assistance.
