Florida Estate Planning

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Commonly Asked Questions about Florida Estate Planning

Does a spouse automatically inherit everything in Florida?

A surviving spouse does not automatically inherit everything in Florida from their deceased spouse. Almost all the decedents assets are subject to the elective share option. A surviving spouse gets to choose whether to take what they are set to receive under the decedents will or trust or take their elective share.

Do I need an estate plan in Florida?

While a will could help your family avoid the travails of intestate succession, it cannot spare your loved ones from the rigors of Florida probate. Ideally, an estate plan should be comprehensive, protecting not only your assets and heirs but your health and finances, too.

What assets do not pass through probate in Florida?

Assets Exempt From Probate I. Any Assets in Revocable Trusts. II. Assets with Designated Beneficiaries. III. Joint Accounts. IV. Tenancy by Entireties. V. Homestead Properties. VI. Vehicles. VII. Assets in the Decedents Primary Residence. VIII. Tuition Programs.

How much does an estate have to be worth to go to probate in Florida?

Florida law requires formal probate proceedings for any estate worth more than $75,000. If the estate is worth less than $75,000, or if the person has been deceased for over two years, it may qualify for a shorter version of probate called Summary Administration.

How much should a simple will cost in Florida?

SERVICESFEES WILL $200 LIVING WILL $75 POWER OF ATTORNEY WITH HEALTH CARE SURROGATE $200 HEALTH CARE SURROGATE $20016 more rows

What is the average cost of a trust in Florida?

Some single purpose Revocable Trusts can be as inexpensive as $200. While most straightforward estate plans with typical assets (such as a home, bank accounts, and a modest investment portfolio), the cost of setting up a revocable trust in Florida is typically around $1,500 .

What is the cost of estate planning in Florida?

Estate Planning Costs An estate planning package in Florida ranges between $1,000 and $4,000. However, depending on the plans specifics, these packages can cost more or less.

What is the average cost of estate planning in Florida?

Regarding estate planning, the costs can vary based on various factors, such as the complexity of your estate, the specific services you need, and the lawyer or firm you select to assist you. Based on information, the average cost of estate planning in Florida typically falls from $1,500 to $3,000.