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Thursday, July 20th, 2017

Probate and Trust Administrations

We understand how difficult it is to lose a loved one and how overwhelming the responsibility of administering an estate or Trust may seem.

We pride ourselves in handling matters at this difficult time efficiently and with respect. From our experience, we have found that clients appreciate a frank and open discussion and understanding of the services that we will perform and the basis upon which they will be expected to pay for these services. Generally, we are able to quote our fee up front so there are no surprises.

We can assist you with probates and Trust administrations throughout the State of Florida. If you live outside of Florida but had a loved one who died as a Florida resident or owning assets in the state, we can assist you, even if you are unable to travel to Florida.

With a Master of Laws (LL.M.) Degree in Taxation, Darryl J. Jacobs is qualified to prepare a Federal Estate Tax Return (Form 706).

When you contact us regarding an administration, we will gather all the information to determine if probate is required, and if so, what type. Depending on the total value of assets, probate in the State of Florida varies in length and expense. Following are the three basic types of Florida probate.

Formal Probate Administrations - This type of probate is for estates with more that $75,000 in assets. The Last Will, if any, is admitted to probate and court order called a Letter of Administration is issued. A Notice to Creditors is published in the newspaper beginning a ninety (90) day period for creditors claims. Beneficiaries are served with a Notice of Administration and are continued to be kept updated as to the status of the administration.

Summary Probate Administration - This type of probate is allowable if the estate is valued at less the $75,000 and the Petitioner swears that there are no creditors or has made provisions for the payment of creditors or if the decedent has been dead for more than two (2) years. This type of probate is generally less expensive and less time consuming than a Formal Probate Administration.

Small Estate Probate Administration - A person may institute a small estate administration without an attorney provided the assets of the estate are below a certain level. Each Florida county sets the maximum estate value for a Small Estate Administration but generally, the estate can not exceed the amount of the paid funeral bill.



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