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With an estate plan, you can help make sure that the assets you have collected throughout your life continue to support your family before or after you have passed. However, creating an estate plan comes at a cost, with many residents wondering, “How much does estate planning cost in Florida?”
In an initial consultation, a Florida estate planning attorney can provide you with transparent information about potential legal costs so that you can make the right decisions for your and your family’s future.
Hire an Estate Planning Lawyer Today
The team at the Law Office Of Douglas A. Oberdorfer, P.A., has spent the last 23 years helping Florida residents draft sound and legally compliant estate plans, laying the grounds for their wishes to be respected when they pass away.
We know how complicated the topic of death can be to discuss, but we work tirelessly to make estate planning as accessible as possible. Once finalized, your estate plan can help you feel secure, knowing your loved ones’ futures are protected.
Why Is Estate Planning Necessary?
In 2024, the average age in Florida was 42.7 years old. There were about 5,141,888 residents in Florida aged 65 and older. Starting your estate plan is key to making sure the people you love have easy access to the assets you want to give them.
When people pass away, their estate and assets go through probate. Assets include:
- Real estate
- Income
- Debts
- Retirement accounts
- Business interests
- Vehicles
- Pets
- Personal belongings
- Collectibles, including artwork and jewelry
The probate process is court-overseen, handled by a personal representative. This person is either named in your will or assigned by the court to gather all of your assets, pay off any remaining debts and taxes with them, and distribute your assets according to your will.
If you don’t have a will, your belongings will be distributed according to state law, not your personal wishes. It also means that your loved ones will have to spend more time and money dealing with your estate, as well as potential in-fighting over your assets.
Estate planning goes far beyond a will, however. It can include multiple types of documents to help protect your assets and your legal rights if you cannot speak for yourself. The number of documents you wish to include in your estate planning process can vary, making the cost of estate planning differ per person.
How Much Does Estate Planning Cost in Florida?
While you can estimate the potential costs of your estate plan, you should know that no two estate plans are alike, and the costs associated with them are dependent on several key details. These could include the cost of the attorney you hire, the value of your estate, the type of estate planning you choose, and more. For instance, the cost of creating a simple will is typically cheaper than a more complex estate plan involving multiple trusts.
What is important to remember, however, is that estate planning is valuable for people of all ages who have varying estate values.
The Basics of Florida Estate Planning Laws
Deciding on an estate plan is a matter of identifying the way in which you want to define the future of your assets. The estate planning options you choose could impact the costs associated with them as well.
Many Floridians may choose a more traditional estate plan with a will, a living will, a power of attorney, and naming a surrogate for their healthcare. However, some may choose to use a trust, which structures the division of assets, allows the assets within the trust to bypass probate, and could potentially provide tax benefits.
- Wills. A will is a document that most people are familiar with. A will states to whom each of your assets will be distributed after you pass away. It identifies an executor whose responsibility is to distribute assets according to the terms of the will.
- Power of Attorney. While the executor of a will handles the details after you pass, a power of attorney is responsible for decision-making while you are still alive. If, for any reason, you are unable to make decisions independently while you are alive, your power of attorney is designated to make those decisions on your behalf. This includes decisions that could impact your finances as well.
- Healthcare Designee. A healthcare designee is also referred to as a medical power of attorney. While a power of attorney can make decisions on your behalf, it cannot make medical decisions. The same person can be identified for both; however, the healthcare surrogate you designate is able to make medical decisions on your behalf, which could include decisions regarding end-of-life care.
- Trusts. Trusts are estate planning devices that allow you to structure the disbursement of assets in specific ways. Assets in a trust can be distributed during your life or after your death. Often, their terms are defined by the type of trust you establish. There are different types of trusts, including special needs trusts, irrevocable trusts, revocable trusts, and more. To choose the right one, you should discuss your options with your attorney.
For those who seek to establish a will, you may find it to be more cost-effective, while a trust is more involved, often coming with higher costs. Again, the specific terms of your will or trust, the experience of your lawyer, and the details you include will cause your costs to vary.
Types of Living Trusts in Florida
During your estate planning process, creating a living trust can help specific assets avoid the probate process. There are two main types to consider:
- Revocable living trust. You can place specific assets into a revocable living trust to automatically pass to the beneficiaries you name, allowing them to avoid the probate process. You can edit or cancel this trust at any point in your lifetime.
- Irrevocable living trust. This type of trust is created in the same way as a revocable living trust, but cannot be changed or canceled once created. The assets that fund an irrevocable living trust legally belong to the trust. This may seem like an undesirable option, but it is often used to help individuals qualify for Medicaid, as the assets that are placed in this type of trust help lower their overall income.
When considering trusts, you’ll want to discuss your specific needs with your attorney. Depending on your age, you’ll want to work with your lawyer to begin Medicaid planning, which can increase the overall costs of your estate planning process. Medicaid planning needs to begin years before you plan to apply, as there are federal deadlines that need to be followed.
For example, if you fund an irrevocable living trust within five years of applying for Medicaid, those assets are subject to review during your application process and may be counted against you.
FAQs
Q: What Is Florida’s Estate Tax and Inheritance Tax in 2026?
A: As of 2026, Florida doesn’t have an estate tax or inheritance tax that applies to a deceased person’s estate. However, there is a federal estate tax, which applies to estates worth over $15 million. This tax applies to a person’s overall estate, not their individual assets. This threshold increases every year and needs to be considered when a person plans their estate, as exceeding the tax threshold can ultimately decrease the assets available for their loved ones.
Q: How Much Does It Cost to Prepare a Will in Florida?
A: The cost of your will is dependent on the type of will you create. For a simple will, you are identifying the person who will care for your children, how your assets will be divided, and to whom those assets will be distributed. This type of will typically costs less than if your will is more complicated. It is advisable to speak with your attorney about your specific needs to gain a better understanding of potential costs.
Q: What Are the Costs Associated with Estate Planning?
A: Estate planning involves several elements, including consultation, preparation, and the filing of your documents. Each of these steps comes with its own costs, which could be as little as a few hundred dollars. However, your attorney fees can increase the costs of your estate planning based on the experience of your attorney and the complexity of your needs.
Q: Do I Need a Lawyer to Create a Will in Florida?
A: You are not legally required to hire a lawyer to create a will in Florida. However, you are highly advised to do so. A lawyer can help draft a legally valid will that can stand up to potential contests. If you don’t hire an estate planning lawyer to oversee the creation of your will, it could be more susceptible to challenges in probate court. If it’s deemed invalid, your assets will have to be distributed according to intestate law.
Q: What Items Are Exempt From Probate in Florida?
A: Most estate plans will enter into the probate process; however, there are exceptions to this. Exceptions include assets in living trusts, joint retirement accounts, bank accounts labeled “transfer on death,” Florida homesteads, vehicles, furniture and appliances, and several others. For a complete list, speak with your estate planning attorney, who can help guide you through these assets, as well as your entire estate plan.
Florida Estate Planning Attorney
The cost of your estate planning is a worthwhile expense to be sure that not only are your final wishes carried out as you desire, but also that your family’s needs continue to be met through your support. No matter your needs or the size of your estate, working with an estate planning attorney can help ease the burden for your family after your death. If you need help with your estate plan, contact the Law Office Of Douglas A. Oberdorfer, P.A.
