Walton County Probate - Probate in Florida
Florida probate law stipulates that any estate worth more than $75,000 must go through probate before any assets of the estate can be transferred to the deceased's heirs. This process ensures that money for payment of taxes and debts is set aside before the remaining assets are distributed. This process is handled by the personal representative of the estate.
According to Florida probate law, most Walton probate cases require that the personal representative retain the services of a probate lawyer. Florida estate law makes this requirement for two reasons. The main reason is simply that probate law is complicated, and probate is a time-consuming process that is very difficult for a layperson to cope with alone. The second reason is that probate is an emotional time for those involved, and the probate lawyer is hired to act in the best interests of the estate regardless of the personal circumstances of those involved. In situations where litigation is involved, for example, having an objective "middleman" on hand is a must.
This legal requirement may be waived only in very specific circumstances. If the personal administrator of the estate is also the sole heir of the deceased, they are not legally required to hire a probate lawyer. However, because Florida probate courts provide no legal assistance, seeking legal advice is often a good idea even if the law does not require it.
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 Walton County Probate Lawyer because an Walton probate attorney would be more familiar with the local Judges and Court system, and that would prove very helpful.
A probate lawyer can work with a personal representative and provide help with most aspects of probate, including the following:
* Filing petitions to begin and end probate
* Attending probate hearings at the local Circuit Court
* Informing creditors and other interested parties that probate is in progress
* Arranging for the preparation of tax returns and an estate appraisal
* Locating hard-to-find heirs of the estate
* Providing assistance in the event that any interest party begins litigation (for example if someone decides to contest the will)
* Finally distributing the estate assets to those beneficiaries entitled to them, free of creditors
The probate lawyer will also work to ensure that all these tasks are completed according to the probate schedule, to avoid any delays in completing probate. In most cases probate is completed in less than twelve months. However, if Federal estate taxes must be paid, the process may take up to two years.
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.
