PROBATE
What is Probate?
Probate is the process through which a deceased person’s assets are transferred after the property owner’s death. A lot of people try to choose an estate plan that avoids the costly expense of the probate process, but nevertheless, most, but not all, estates will go through some sort of probate process. It may be the more simplified, Summary Administration, or the more complex Formal Administration, or sometimes with minimal assets, a Disposition Without Administration is more appropriate.
The legally complex, and sometimes expensive, legal process of probating an estate involves the gathering and distribution of assets, as well as the paying off debts of the decedent according to the Law, the Will or Estate Plan. Without a Will or Estate plan, probate will still take place and a personal representative will be appointed by the court.
Generally, the personal representative also known as the Executor or Executrix, carries out these tasks under the guidance of an experienced probate attorney like Stephen Rei. While the personal representative, who is usually a family member or close family friend, is dealing with the sometimes overwhelming emotional effects of planning funerals, dealing with distraught family members, all while trying to work and take care of his/her own family; he or she may also trying to navigate the complicated legal process of probate, which if done wrong can have disastrous consequences.
Attorney Stephen Rei, understands the many unique legal requirements and often emotional considerations of dealing with a loved one’s estate. We strive to provide you with exceptional service to our clients no matter how complex or straightforward the situation
TYPES OF PROBATE
Disposition Without Administration (for Smaller Estates)
Disposition Without Administration is the least complicated and most cost effective way of processing an estate. Real property is not included in this process and must be transferred through another form of probate administration. Also, the value of assets must not exceed the value of final expenses, such as, funeral expenses and medical costs. The purpose of this informal process is to transfer assets of the deceased to the person who paid for funeral expenses and final medical costs. This is the only type of administration that can be done without a probate attorney.
Summary Administration
Summary Administration is a simplified and is quicker administration is for estates under $75,000 (not including homestead or exempt property), or when the decedent has been dead for more than two years. Summary administration will avoid the appointment of a personal representative. A Petition for Summary Administration is submitted to the proper court asking to distribute the assets according to the law or per the Will. If the petition is granted the court will issue an Order of Summary Administration, allowing assets to be distributed to the correct beneficiaries.
Formal Administration
This is the most complex and lengthy type of probate administration that is required if the value of the estate not including exempt assets is greater than $75,000. A probate lawyer must be used in formal probate administration and a personal representative must be appointed by the court. A probate attorney will prepare the required documents and file them with the court, and also assist and advise the personal representative on how to comply with the many statutory requirements including the Notice to Creditors, determination of homestead, the distribution of assets and the payment of creditors
Ancillary Probate
Ancillary Probate is a little more complicated process and is for out of State residents to be able to settle a probate estate of property located in Florida.
How much does Florida Probate Cost ?
Professional Fees
I charge a flat fee retainer for most probate and non-probate estates, probate attorney fees could be less for estates with low assets, or more for probate estates with larger and more numerous assets. Depending on the value of assets and the complexity of the estate my average probate fees are as follows:
Summary Administration cases range from $1500 to $3500
Formal Administration professional fees average between $2,500 and $5,000
Larger Estates – Our fees are 3% or less, of the total value of the estate.
Please note these figures are only averages, your fees may be more depending on thecomplexity of the case and the type of assets in the estate.
Probate Costs and Expenses
In the state of Florida court filings fees and costs vary from county to county but usually not significantly. Probate filing fees are usually in the range of $250.00 to $400.00. Publication costs for required legal notices can run anywhere from $100.00 to $300.00 depending upon the newspaper. Notices by Certified Mail cost approximately $10.50 per notice.
AFFORDABLE PROBATE REPRESENTATION
Stephen A. Rei
Attorney At Law
205 West Venice Ave, Suite 204
Venice, Florida 34285
Licensed in Florida and Massachusetts
- Telephone: (800)273-3731
- Fax: (888)892-2575
- Email: steverei@gmail.com
The Law Office of Attorney Stephen Rei is a debt relief agency helping people to file for bankruptcy protection under the United States Bankruptcy Code. The information presented on this website is for debtor education only. No attorney client relationship is created until you have consulted with our attorneys and a fee agreement is signed. If you have any questions, please contact our office directly for a free consultation.