How Much Does Probate Cost in Florida? A Guide for St. Lucie County Residents

Probate is a legal process that occurs after someone passes away, where the deceased's assets are distributed and debts are settled under the supervision of a court. For residents of St. Lucie County, Florida, understanding the costs associated with probate can help you plan for the future and avoid unexpected expenses. Whether you're dealing with the probate process for a loved one or considering estate planning options like wills and trusts, this guide will provide you with the essential information on probate costs in Florida.

What is Probate?

Probate is the legal procedure that validates a deceased person's will, if one exists, and oversees the distribution of their estate according to their wishes or Florida law. The probate process involves several steps, including:

Filing the will (if there is one) with the court
Appointing a personal representative (also known as the executor) to manage the estate
Identifying and valuing assets
Paying debts and taxes
Distributing the remaining assets to beneficiaries

What Does Probate Cost in Florida?

The cost of probate in Florida varies based on several factors, including the size and complexity of the estate, whether there is a valid will, and the county where the probate is being filed. In St. Lucie County, Florida, typical probate costs include:

Court Fees: Filing fees for probate are set by the court and vary depending on the value of the estate. For example, the initial filing fee to open probate is typically around $400.00. It is common for probate costs to be close to $1,000.00. Plus....attorney fees.
Attorney Fees: Florida law allows attorneys to charge a percentage of the estate’s value for probate services. The typical attorney fees are:
- 3% of the first $1 million of the estate value
- 2.5% of the next $4 million
- 2% of the next $5 million
- 1.5% of the next $10 million
- 1% of the next $15 million
- 0.5% of amounts above $25 million
- The above is based on the Florida Statutes governing attorney fees for probate.

For estates with a value of less than $75,000, Florida offers a simplified probate process called “summary administration,” which can significantly reduce attorney fees and court costs.

Personal Representative Fees: The personal representative, also known as the executor, is responsible for administering the estate. They may charge a fee for their services, which is typically based on a percentage of the estate value, similar to attorney fees. Personal representative fees are often set by the court, and they generally range from 1% to 3% of the estate’s value.
Other Administrative Costs: Other costs may include fees for appraisers, accountants, bond premiums, and publication fees for notifying creditors. These costs can add up, especially for larger or more complex estates.

How to Minimize Probate Costs

While probate costs are unavoidable, there are strategies to minimize these expenses:

Create a Trust: One of the most effective ways to avoid probate and its associated costs is to establish a living trust. Assets held in a trust pass directly to beneficiaries without going through probate. This can save both time and money.
1. However, an individual's failure to properly fund the trust can cause an unexpected probate. That's why, the Siegel Law Firm, PA created the "TRUST" Process that ensures that our clients avoid the probate process. It's our peace of mind promise that no probate will be required for the work we do for you at our firm.
Joint Ownership: By owning property jointly with another person (e.g., a spouse), the property will pass automatically to the surviving owner, avoiding probate altogether.
Beneficiary Designations: Many assets, such as life insurance policies, retirement accounts, and bank accounts, allow you to designate beneficiaries. These assets pass directly to the named beneficiaries upon death, bypassing probate.
Simplified Probate for Small Estates: If the total value of the estate is less than $75,000, you may qualify for Florida’s simplified probate process, which reduces both attorney and court costs.

Wills vs. Trusts in Florida Probate Planning

When it comes to estate planning in Florida, you have two main options: a will or a trust. Both have their pros and cons, especially in the context of probate:

Wills: A will is a legal document that outlines how your assets should be distributed after your death. However, a will must go through the probate process, which can be time-consuming and costly. If you want your estate to avoid probate, a will may not be the best option.
Trusts: A trust is a legal arrangement where a trustee holds and manages assets for the benefit of beneficiaries. Trusts allow assets to bypass probate, which can save time, reduce costs, and maintain privacy. In Florida, revocable living trusts are commonly used for this purpose. By placing assets in a trust during your lifetime, you can ensure they pass to your heirs without the need for probate.

How Can The Siegel Law Firm Help?

At The Siegel Law Firm, PA, we specialize in estate planning and probate services for St. Lucie County residents. Our experienced attorneys can help you navigate the probate process, reduce costs, and ensure that your estate plan aligns with your wishes. Whether you need assistance with a simple will, a comprehensive trust, or probate administration, we are here to guide you through every step.

Contact Us for Probate and Estate Planning in St. Lucie County

If you're considering creating a will or trust in St. Lucie County or need assistance with probate, contact The Siegel Law Firm, PA today. We can provide personalized advice to help you minimize costs and avoid probate complications. Call us at (561) 743-4001 or visit our website at www.servingyourlegalneeds.com for more information.

By planning ahead with the right estate strategy, you can protect your loved ones from unnecessary expenses and ensure your legacy is handled according to your wishes.