Why Do People Try So Hard to Avoid Probate in Florida?
Probate is the court-supervised process through which a person’s estate is finalized. You have probably heard from other people that probate is something to be avoided. This raises an important question: Why do people try so hard to avoid probate? The short answer is that probate can be a complicated, time-consuming, costly, and even disputed process. Here, our St. Petersburg probate lawyers explain in more detail why so many people want to avoid the process in Florida.
The Three Main Reasons that People Want to Avoid Probate in Florida
- The Cost
Probate comes with certain costs. It is not a “free” process in Florida. As part of probate, the estate may need to pay court filing fees, executor fees, attorney fees, and potentially even accounting costs. The more complex the estate, the higher these costs tend to be. In other words, the value of avoiding probate rises along with the value of the estate. Of course, probate expenses can reduce the total value of the estate. That leaves less for your beneficiaries. If the estate is contested, legal fees can quickly add up. Many families in Pinellas County are actually surprised by how much probate ends up costing. Given the costs, avoiding probate is desirable.
- The Time
The time it takes to navigate probate can actually end up being a bigger burden than the costs. Probate in Florida can take months (or even years) to complete. The precise timeline will depend on the complexity of the estate and whether any disputes arise. During probate, beneficiaries are typically not able to access the assets they are meant to receive. Put another way, you have to wait until probate is complete in order to get the property that you have been left to you through a will.
Why does the probate process take so long? There can be many different reasons. In Florida, probate involves legal filings, formal notice to interested parties, court hearings, and, in some cases, creditor claims that need to be resolved. Unfortunately, it can be frustrating and slow-moving, especially at a time when families want closure. By contrast, non-probate transfers like trusts or pay-on-death accounts allow for quicker distribution of assets.
- The Risk of Dispute
Finally, with formal probate in Florida there is a significant risk of a dispute. Probate opens the door for challenges and disputes among heirs, creditors, or others who believe they have a claim to the estate. In Florida, probate is a public process. While transparency can be a good thing, that same transparency can lead to family conflict or legal battles over wills, asset distribution, or debt obligations. Contested probate is hard for any person to go through. Not only can it be very costly and very time-consuming, probate litigation is also often emotionally draining. By avoiding probate with careful and comprehensive planning , people can reduce the chances that their estate will end up in a serious conflict.
Speak to Our St. Petersburg Probate Lawyer Today
At Fisher & Wilsey, P.A., we provide estate planning, estate administration, and probate law services. If you have any questions about avoiding probate, we can help. Call us now or contact us online to arrange your completely confidential case evaluation. With an office in St. Petersburg, we handle estate planning and probate matters in Pinellas County and throughout the region.
