How Much Does Probate in Florida Cost?
Probate is not free. In addition to the small fees for filing and publishing documents, you will need to pay your probate lawyer.
In Florida, a Personal Representative of a formal estate must be represented by an attorney licensed to practice law in the state of Florida, unless the Personal Representative is also the only beneficiary of the estate. A Summary Administration may be filed by an interested party without the assistance of counsel. However, the probate rules can be more complicated than you may think, and it is best to hire an experienced probate attorney to guide you in the matter.
Where Does the Money Go During Probate?
Probate costs often include filing fees, certified mailing costs, costs to publish the required notice to creditors, and the Personal Representative’s bond premium. Estates often have to pay an accountant to prepare one or more tax returns which may include Form 1040 the decedent’s final individual income tax return, and Form 1041 the Income Tax Return for Estates and Trusts. Creditors can seek payment of the decedent’s outstanding debts. Probate attorney’s fees are often based on a percentage of the gross assets passing through the probate estate. The Personal Representative is also entitled to a fee for serving as the Personal Representative.
Contact Kruse Law About Keeping Probate Affordable
A St. Petersburg probate lawyer can help you fulfill the requirements of estate administration as quickly and inexpensively as possible. Contact Kruse Law Group in St. Petersburg, Florida, to set up a consultation.