The complications of the probate process often frustrate a person. Being a personal representative is not an easy task. It is both, emotionally and mentally challenging. The numerous complexities of the probate process usually leave numerous questions unanswered in the person’s mind. The types of fees incorporated in the entire probate process are one of them.
You are about to find out the answers regarding the types of fees incorporated in the Probate process. Thus, just hang around and read this blog to get clarity on one of the most important factors of a Probate process.
Factors on which Florida Probate Process Fees depend
Firstly, you need to know the certain factors on which the Florida probate process depends.
- The first factor playing a decisive role is the complexity of your case. The more complex your case is, the more are the expenses.
- The estate value also plays a considerable role in the expenses of your Probate process.
- The expenses of the Probate process also incorporate the filing & the court process. These expenses vary as per the case & the court.
- The estate location is next factor that decides the expenses of your Probate process.
- Using a probate attorney increases the fees. Most of the cases require probate attorney. However, you can save this expense if the estate is small.
Types of Florida Probate Cases
Check out the type of fees that are incorporated in the Florida Probate Process below.
The attorney fees depend on several factors. Some of them are the complexities of your case, the size of your estate, and the experience of the attorney.
2) Filing Fees: From initiation to the conclusion, the probate process demands an abundance of paperwork. Filing the paperwork with the court requires some fees which is another cost incorporated in the entire Florida Probate process. Usually, the filing fees depend on the complexity of your case.
3) Personal Representative Fees: Most probate processes in Florida demand nominal personal representative fees. However, the fees aren’t required if it is a summer administration case. The personal representative fees are usually 3% of the total estate assets. However, it might vary according to the services provided by the personal representative.
4) Valuation Charges: The valuation charges purely depend on the estate type, size, and business involved. Things like jewellery, personal property, etc. demand valuation charges. Business valuation fees are also incorporated in these charges.
5) Extra Charges: There are a number of extra charges that purely depend on your probate case. Factors like litigation, publication charges, final income tax preparation charges, etc. are some of the factors which bring extra charges alongside it.
Understanding the Florida Probate Cases
There are different types of Florida Probate cases. It is important for you to have an idea about the same as the case type plays a decisive role in the fees you are going to pay in the entire probate process.
- Formal Case Type: Formal administration is one of the most common case types that a person will face when he indulges in the loved one’s probate case. The fees with this probate case type are usually reasonable and thus the best among other case types.
- Summary Case Type: When the estate value is less than $75,000, or if the decedent passed away two years ago, you could go with a summary case type to sail through the process with ease.
- Ancillary Case Type: This probate case comes into the picture when you aren’t reading in Florida, but your loved ones resided here and had an estate. The fees in this type are a bit high as compared to the other two case types.
- Disposition without Administration: You can indulge in this probate case type when there is no real property to be transferred. Kindly check out the qualification criteria if you wish to go with the same.
We hope that you now have clarity on the fee types that are incorporated in the Florida Probate process. Also, we have tried to give you clarity about the different types of Florida probate cases and how much each of them costs. If you are about to get through the Probate process, you might be having doubts about selecting a reliable Florida Probate Lawyer , do reach out to the Law Office of Michael Heider. Use the contact number 888-497-1369 or send us an email to get in touch with us and ensure that you sail through the entire Probate process with a reliable companion.