The most frequent questions in dealing with probates, estates and the death of loved ones is how much it costs and how long the probate process takes. The answers to both of those questions are, “it depends”, but there are several very concrete answers that apply in nearly every case.
As to the easy question, “How Long Does Probate Take?“ By state law, it will take at the very least 3 months, because state law requires that a notice of death be published in a newspaper in order to give time for creditors to make a claim against the estate. At WeidnerLaw, we meet with clients on weekends or evenings and promptly respond to all client requests. We get that clock moving just as quickly as we can because we know that time is of the essence.
The most important step in getting the clock moving is to quickly meet with an attorney, get the papers filed and get that clock moving!
The next important question, “How Much Does Probate Cost?”. The short and easy answer to the question is, not very much. Florida law and specifically Florida Statutes, 733.6171 sets up what is the presumptively reasonable probate attorney fees based on the size of the estate. When you look at these numbers below, I think any person recognizes that these probate lawyer fees are very reasonable especially when a client understands the kind of effort necessary to properly administer an estate.
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 and 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 the rate of 1 percent for all above $10 million.
For more information on all aspects of estates and probate, please see our website on Florida probate rules here.
You can check out our YouTube Channel for videos on Wills, Estate Administration & Probate