Legal Question in Wills and Trusts in Florida

Re: Have been asked to sign FL Bar Form No. P-5.0570

Having practiced for over 35 years and being involved, as co-counsel for many Florida estates, I must tell you the form is a requirement of the Florida courts to close the estate. However, as part of the estate process, you should have been provided with an accounting of the estate which would somewhat, although it can be done informally, detail all activities of the estate, from its inception, through preparation for final distribution, with the details of what the assets were, their values, the final debts, funeral and administration expenses, liquidation details if securities were sold (gains and losses), and the costs and fees involved from all professionals. You should be aware that while Florida has many advantages for probate and estate taxes, its probate formalities on closing an estate are very rigid and, in my opinion, designed to provide windfalls for Florida attorneys. Much more simpler in NJ, NY and CT. It is interesting about the fees your NY attorney is charging, but that's the price of NY attorneys. Here in NJ, I only charge $300/hour and our procedures are more informal, which cuts the time and fees substantially.

Re: Have been asked to sign FL Bar Form No. P-5.0570

You have no obligation to sign. You can require that the Personal Representative furnish you with a formal accounting, which would include the attorneys' fees, as well as proposed distribution of the remaining estate assets. However, preparation of the accounting may result in an additional fee by the Florida attorney, depending on what compensation agreement was entered into by the personal representative and the attorney. Why don't you just express your concerns to the personal representative, and ask that he/she furnish the info so you can make an informed decision? If you dont't sign the form, they will have to go ahead and prepare the accounting.