Q. WHAT IS PROBATE?
A. Probate is a legal process through which the assets of a deceased person are properly distributed to the heirs or beneficiaries under a WILL. The COURT oversees the estate to make sure debts are paid and proper distribution is made.
Q. WHAT HAPPENS WHEN A PERSON DIES AND HAS LEFT NO WILL?
A. The state will distribute the assets in accordance with Florida law.
Q. WHAT IS A WILL?
A. A will is a document executed by a person which disposes of their assets after death.
Q. CAN YOU DEFINE PROBATE?
1. Law. The official proving of a will as authentic.
2. An officially certified copy of a will so proved.
3. Of or pertaining to probate or a court of probate.
4. To establish the authenticity or validity of a will.
Q. CAN YOU DEFINE PROBATE COURT?
A. A special court with power over the administration of estates of deceased persons, the probate of wills.
Q. HOW MUCH DOES PROBATE COURT COST?
A. Florida Statute 733.6171, compensation of attorney for the personal representative....,
(a) $1,500 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% on the next $900,000.
Plus court costs and expenses.
Q. WHAT DID YOU PAY FOR YOUR WILL?
A. __________? $50, $75, $300?
(compare this to the cost of probate)
Q. WHAT WILL YOUR BENEFICIARIES HAVE TO PAY TO PROBATE YOUR ESTATE?
1) $3,000 for $75,000 estate
2) $6,000 for $200,000 estate
3) $15,000 for $500,000 estate
(compare this to the cost of a trust)
Typical fees to set up an uncomplicated Trust range from about $800 to $1,500. (compare this to the cost of probate)
Conclusion: The "Probate Court" process is expensive, inefficient, public record and emotionally and financially draining on your children and loved ones.