Legal Question in Wills and Trusts in Florida

Re: Cost of Probate

For an estate of that size, the largest portion of the costs would be that of legal fees and compensation to the personal representative. Attorneys are free to charge what they seem appropriate as long as it qualifies as "reasonable compensation." But, the statutes provide guidelines for what is reasonable. That would be $3,000 for the first $100,000 plus 3% over $100,000 up to $1 million (for "ordinary services). Note that a revocable trust would probably not reduce this amount since the trust would still be part of the estate that the attorney would handle. The personal representative is entitled to %3 of anything up to $1 million of the probate estate.

Re: Cost of Probate

Florida statutes state that a reasonable fee for "ordinary services" is 3% of that size estate for the attorney and the personal representative. However, in practice, my office substantially discounts those fees in most cases. In addition, there would be filing fees, etc., of around $250. If all the assets are held in a living trust, the cost should also be substantially less.

Re: Cost of Probate

Most attorneys usually charge between 2 and 1/2 % to 3 % of the gross estate plus court fees. If there are numerous tax problems a larger fee may be charged. Good luck.