When someone dies in Florida owning assets solely in his or her name, the decedent’s estate will likely go through probate.
Depending on the total value of the estate, the date of the decedent’s passing, and the number of exempt assets involved, an estate may qualify for an expedited form of distribution under Florida law.
However, if the decedent’s estate qualifies for formal administration, the Personal Representative appointed by the court must hire a licensed attorney. Keep reading to discover the fees to be paid to a Florida probate attorney.
Florida Probate Administration – Understanding the Process
There are three ways to distribute property upon someone’s death in Florida – disposition without administration, summary administration, and formal administration.
Formally referred to as “disposition of personal property without administration,” this type of post-death property distribution will not require a process of court-supervised probate. However, few cases in Florida qualify for disposition without administration, as this type of distribution applies only to small estates.
If the value of the decedent’s estate subject to probate does not exceed $75,000 or the decedent has been dead for more than two years, it is possible to file a petition for summary administration.
However, if the value of the decedent’s estate subject to probate exceeds $75,000 or the decedent has been dead for less than two years, the estate may go through formal administration.
In formal administration, the court will designate a personal representative (also referred to as an executor) to administer the estate and distribute the remaining assets to the heirs and beneficiaries.
Florida Probate Attorney Fees – As Provided by Law
Except in the cases provided by the law, Florida Statutes §733.6171 (1) state that “attorneys for personal representatives are entitled to reasonable compensation payable from the estate assets without court order.”
Florida States §733.6171 (2)(a) permits that the attorney, the personal representative, and persons bearing the impact of the compensation to agree on the compensation.