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Probate

Probate

Probate is a long and expensive process. It is used when someone has not created a proper estate plan. Having a Will still requires Probate!! This is the most common misconception. If you wish to have a low-cost estate plan to avoid probate please visit our On Line Estate Plan for only $400.

How Expensive?

Probate fees are the actual filing fees, of $409, as well as the attorney fees. The Florida Legislature has created laws stipulating reasonable attorney fees. Most probate attorneys charge the statutory amount. The attorney fee is approximately 3% of the total estate, including Life Insurance, home, bank accounts, 401 K, and any other assets. As you can see, this can get expensive.

How Long is the Process?

There are two types of probate. A summary probate is done if the total assets are less than $75,000 and the time frame is approximately nine months. If the assets are greater than $75,000, then a full probate is necessary. We inform our clients to expect the process to take about two years. There are many involved steps, including:

  • Identification and valuation of the assets
  • Preparation of an inventory of assets and formal accounting
  • Identification and notification of all possible heirs
  • Assessment of validity of claims against the estate
  • Publication of all legal notices
  • Management of any real estate
  • Application to the court to liquidate and distribute the assets
  • Filing and payment of any federal income, estate, gift taxes
  • Objections to improper claims
  • Defense of any lawsuits brought by creditors
  • Payment of any administrative expenses
  • Distribution of assets to the beneficiaries
  • Final Closure of the Probate Case

Simply download the intake form provided, fill it out and submit via email or fax to online@markhoffpa.com or 786.364.1219.

Payments can easily be made online.