How Much Does it Cost to Administer a Florida Estate?
How much does it cost to administer a Florida estate? It seems a lot of beneficiaries ask that that question. And without waffling too much, it depends. It depends on how much activity is going on in the estate. If you have very few assets and little risk you can administer the estate, pay off debts, pay off, the person who passed away, their last income taxes, gather the assets and distribute them. In that instance, in a small estate, I would like to think that you could resolve it in the $1,000s, that there wouldn’t be a lot of time that is required. That is not applicable to more complex estates. Estates that’re involved in litigation, estates that have an on going controversy with the IRS, or there might be an estate tax audit. That’s going to be considerably more. For larger estate as well there’s also a cost statue that tells you what a personal representative can charge and what the attorney for the personal representative can charge. Admittedly on the larger estates the fees can get very high.