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Determining whether a deceased person’s estate should go through probate<\/a> involves several factors, including the size of the estate and whether it is worth filing for court-supervised administration. How is probate calculated in Florida? Read on to find exclusive insights. <\/p>\n\n\n\n Before filing for probate, it is crucial to identify whether probate is necessary. Florida Statutes \u00a7735.301 (1) provides that “no administration shall be required, or formal proceedings instituted upon the estate of a decedent leaving only: <\/p>\n\n\n\n If an estate qualifies for disposition without administration, the decedent’s loved ones can inherit without going through probate. Florida law has two types of probate – summary administration and formal administration. <\/p>\n\n\n\n If the total value of the decedent’s estate is worth less than $75,000 or the decedent has been dead for more than two years, the estate qualifies for summary administration. In most cases, summary administration takes only a few weeks to complete. <\/p>\n\n\n\n If an estate qualifies neither for disposition without administration nor summary administration<\/a>, it must go through formal administration<\/a>. <\/p>\n\n\n\n The costs involved in probate must be paid from the decedent’s estate. In terms of percentage, the main cost of probate proceedings in Florida is the amount paid in attorneys’ fees. <\/p>\n\n\n\n An estate subject to summary administration incurs fewer expenses, as there is no statutory requirement to hire a licensed attorney. Although it is not legally required, working with an expert attorney is the best approach to avoid costly mistakes. <\/p>\n\n\n\n Formal administration is the most expensive form of probate in Florida. The court must appoint a personal representative (or executor) to administer the estate, which requires due compensation once probate is closed. <\/p>\n\n\n\n Unless the person appointed as the executor is licensed to practice law within state jurisdiction, Florida law requires the personal representative<\/a> to hire a professional attorney. If an estate is formally administered, a licensed attorney must be involved in the process. <\/p>\n\n\n\n The costs involved in a standard formal administration usually include: <\/p>\n\n\n\n An estate consisting of assets located in multiple states may require ancillary administration, which significantly increases the total costs. <\/p>\n\n\n\n It is fundamental to avoid disputes during the process, as it may result in an exponential increase in probate costs. Will contests, disputes between multiple heirs or beneficiaries, and other issues can create a lengthy and costly experience. <\/p>\n\n\n\n Waste no time – contact Attorneys Romy B. Jurado<\/a> and Diana C. Collazos<\/a> by calling (305) 921-0976<\/a> or emailing Romy@juradolawfirm.com<\/a> for expert legal guidance. <\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Determining whether a deceased person’s estate should go through probate involves several factors, including the size of the estate and…<\/p>\n","protected":false},"author":1,"featured_media":7441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"How is probate calculated in Florida? Click here to find out. 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How is Probate Calculated in Florida? – Taking a Closer Look <\/h2>\n\n\n\n
Probate Does Not Need to be Overwhelming – Contact Your Florida Probate Lawyer Today <\/h2>\n\n\n\n