Feb 3, 2025
6 min read
When someone passes away in Florida, their estate must go through a legal process to distribute their assets. This process is called probate, and it can be time-consuming, expensive, and stressful for loved ones. However, a properly funded living trust can help avoid probate altogether, making the transition much smoother.
Let's take a closer look at the cost of probate for someone who did not have a living trust versus someone who did.
Probate costs in Florida generally fall into the following categories:
The total cost depends on the size of the estate, the complexity of the assets, and whether disputes arise.
If a person dies in Florida without a living trust, their assets may be subject to probate, which can be expensive. Here’s a breakdown of typical probate costs for an estate without a living trust:
Florida law allows attorneys to charge statutory fees based on the value of the estate:
For example, if an estate is worth $500,000, the attorney's fee alone could be around $15,000.
Executors are also entitled to fees similar to attorneys, which means an additional $15,000 for an estate worth $500,000.
If a person had a fully funded living trust, their estate avoids probate because the assets are already legally owned by the trust. The distribution process is much faster and cheaper.
For a $500,000 estate, the total cost could be $2,000 – $5,000, compared to $30,000 – $40,000 for probate. The process is also much faster—typically a few months instead of over a year.
| Scenario | Estimated Costs | Time to Settle |
|---|---|---|
| No Living Trust (Probate) | $30,000 – $40,000 | 6 months – 2 years |
| Fully Funded Living Trust | No cost usually | A few months |
A living trust is a smart financial decision for anyone who wants to protect their assets and ease the burden on their loved ones. While probate can cost tens of thousands of dollars, a properly set-up living trust minimizes expenses, speeds up the process, and ensures your wishes are carried out efficiently.
If you’d like to learn more about setting up a living trust, schedule a free estate planning consultation with Dan today! Planning ahead can save your family time, stress, and money.
© Attorney Daniel W Blougouras
