Florida - Simple Matter requiring Costly Legal Representation

[sbrca]

What is the name of your state?My mother passed away last October in Florida (Pinnelas) leaving a will, living will, durable power of attorney, etc. My brother and I are the sole heirs and named beneficiaries in all that she had. While she lived very modestly with most of her assets being covered in a simple Summary of Administration which I filed in the district court in Florida, she did have a portfolio account in another state that exceeds the $75,000 bench mark that separates one form of filing from another. She had no debt, no oustanding health or burial costs. Her taxes have been filed.

The brokerage firm in Pennsylvania where her last remaining asset is kept is demanding a Letter of Testamentary in order to turn the portfolio account over to us. I had hoped to comply with this request on my own. However, in researching this matter, I'm discovering that I am being forced to file a Formal Summary of Adminstration requiring bonding, public notification to creditors AND legal representation. (Although I can't seem to get a straight answer on this - while I was told it was preferred, I've not seen anything stating it's required!)

This does not require a strategy, advice, or legal guidance, only one court issued document, and yet I am being quoted prices of approximately $5000 to complete this one simple procedure that a paralegal could do. I'd like to handle this matter myself and would greatly appreciate any knowledgeable advice that would enable me to do so. Please help.

 

[Dandy Don]

So, when the summary administration was done, were letters testamentary issued to anyone?

If they weren't issued then, then file again now so you can get it now. The summary administration was for a smaller estate, so now that there is another asset worth more, then regular probate may be needed.

 

[sbrca]

Florida - Simple Matter Requiring Costly Legal Representation

Florida. I appreciate the one response I received although I don't believe the reader understood what I'm saying. In Florida, you can file a Summary of Administration without legal representation (which I did) as long as the value does not exceed $75,000. At the time this was filed, I was not aware of the portfolio account being held in another state. I did call the court about the possibility of amending my earlier Summary filing, but when the court learned the value of the portfolio was in excess of $75,000, I was told I would have to file a FORMAL Summary of Administration requiring a lot of unneccessary maneuvering that this case does not warrant (i.e., issuing a bond, publication for creditors, etc.). Moreover, formal summaries are considered laborious and tricky, hence the strong recommendation that I retain the services of a lawyer. Yet, we're talking about one document for one brokerage firm that will wrap this estate matter up at a cost of $5000 for a lawyer. I have to believe there is another way.

 

[Dandy Don]

You don't completely understand the reason that the law works. You say it is unnecessary for a bond and notice of publication to creditors, but that is only fair to the entire procedure. So just because you don't want to shop around for an attorney who would charge a reasonable rate, you are willing to give up on the entire process?