Easy Ways to Avoid Probate and Save Thousands in Fees

When a loved one passes away, the last thing anyone wants to deal with is the hassle of probate—especially when it comes with hefty fees. In Florida, probate fees can add up quickly. The state recommends an executor or personal representative’s fee of 3%, plus an additional 3% for attorney’s fees—meaning that for a $300,000 estate, probate fees could cost as much as $18,000.

No wonder so many people want to avoid probate! Instead of losing a chunk of their estate to legal fees, they’d rather ensure their hard-earned wealth goes directly to their loved ones or a favorite charity.

What Is Probate, and When Is It Required?

General Rule: Probate is required when a person dies with an asset solely in their name. A common example is a home—if it’s only in the deceased person’s name, it must go through probate before passing to their heirs.

However, a will does not avoid probate—it simply directs how assets should be distributed after they go through the probate process. That’s why having a solid estate plan is crucial.

Assets That Don’t Go Through Probate

Some assets automatically pass to heirs and do not require probate, including:

• Jointly owned assets: Most married couples own property jointly, meaning that when one spouse passes, the surviving spouse automatically inherits the asset. Probate only becomes an issue when the second spouse dies or in cases of simultaneous death.

• Life insurance policies, annuities, IRAs, 401(k)s, and retirement accounts: These do not go through probate if beneficiaries are named.

• Pro Tip: Always name contingent beneficiaries in case your primary beneficiary passes away.

• Vehicles: Under Florida law, cars, boats, motorcycles, and other vehicles do not have to go through probate.

By structuring your assets wisely, you can spare your loved ones the stress and expense of probate.