+ ASK The Lawyer
How to Navigate
Probate
Costs
You don’t have to lose your inheritance
because you think you can’t afford probate.
Here’s how to protect your assets.
My mother, who owned a home in Florida, died a week ago. There was no will, and I learned
I must file for probate before I can obtain title to her property. I can’t afford to pay a probate
lawyer because I only receive minimal social security fixed income, live in Missouri and can’t
travel. My mother’s house, worth about $300,000, has a $125,000 mortgage I cannot afford
to pay and I’m concerned about foreclosure. I contacted some banks and was told once a
probate is opened, they might be able to loan funds to pay a lawyer contingent upon my credit
history and income. I’ve talked to several lawyers who told me that unless I pay first, they
won’t open a probate. Is it possible to obtain any type of loan to pay a lawyer without credit
hassles so I don’t lose my family inheritance?
Q:
A:By Kristen M. Jackson, Jackson Law P.A. When a Florida resident
owns and lives in a
home, the state’s homestead
laws exempt the home from
creditor claims. In order to sell the
home during probate, the heirs
must waive the creditor claim exemption,
which converts the home
to a non-homestead probate asset.
This decision requires compromise
since heirs must authorize a personal
representative to take control
of and sell the homestead and
distribute the sales proceeds along
with other probate assets.
Before heirs can receive their
portion of assets, the estate must
16 Central Florida Lifestyle | March 2020
first pay creditor claims and lawyer
fees, probate court filing, a
personal representative, real estate
sales and closing costs, and loans.
A lawyer experienced in homestead
law, inheritance loan options and
third-party representative agreements
can help.
How do you obtain the funds
to pay for probate? Start by asking
a probate lawyer the following:
• Does the lawyer understand how
to convert a homestead property
into a non-homestead asset during
probate?
• Will the lawyer act as personal
representative or know someone
who has the capacity to manage
an estate from beginning to end?
• If the heirs are unable to pay for
probate, is the lawyer familiar
with inheritance loan companies
that provide advance probate
loans for initial lawyer fees?
• Is there a method of qualifying
for an inheritance loan prior to
hiring the lawyer?
• Will inheritance loans be included
in the probate filing and considered
as creditor claims against
the estate?
• Is the lawyer familiar with the
process of selling the home and
managing the closing, including
mail-away closings?
• Can the above steps be accomplished
without having to travel
to Florida?
• What fees can I expect to pay for
managing the above events?
• When can heirs expect to receive
their inheritance?
Lawyers inexperienced in or
unfamiliar with these processes
from beginning to end can slow
the process, resulting in an undesirable
outcome.
It’s unfortunate that so many
people expose their heirs to the agony
of probate, which is easily avoided
with proper estate planning. You don’t
have to lose your inheritance because
you think you cannot afford the cost
of probate.
Kristen M. Jackson is the founding
partner of Jackson Law PA
(407-363-9020). She is experienced
in estate planning, real estate law,
business and contract law. Her firm
has earned an AV rating by Martindale-
Hubbell signifying the highest level of
professional excellence as obtained
through opinions from members of
the bar and judiciary.