When it comes to settling an estate in Florida, the difference between going through probate and using a revocable living trust can be dramatic—in both cost and time. While probate is the court-supervised process required when someone passes away without proper planning, a revocable living trust offers a streamlined, private, and more cost-effective alternative.
The charts below compare the typical expenses and timelines associated with each option, using sample estate values of $500,000 and $1,000,000. Whether you're planning your own estate or helping a loved one, understanding these differences can help you make informed, strategic decisions that protect your legacy.
Keep in mind that your case may be different. Consult a Florida probate attorney or an estate planning attorney for specifics about your estate.
| Category | Probate (Formal Administration) | Revocable Living Trust |
|---|---|---|
| Attorney Fees | ~3% of estate value (e.g., $15,000 for $500k) | $2,000–$5,000 (one-time setup + minor updates) |
| Court Filing Fees | $400–$500 | $0 (avoids probate court) |
| Personal Representative Fees | ~3% of estate value (optional, but common) | $0–$1,000 (if successor trustee paid) |
| Publication & Notification Costs | $100–$300 | $0 |
| Accounting & Appraisal Fees | $500–$2,500+ depending on estate complexity | $500–$2,000 (may still apply, but usually simpler) |
| Bond Premium (if required) | $500–$1,000+ | $0 (not typically required) |
| Time to Settle Estate | 6–12 months (or longer) | 1–3 months (assets can be distributed faster) |
| Privacy | Public court record | Private |
| Control & Flexibility | Limited (court oversight) | High (successor trustee manages distribution) |
| Typical Total Cost (on $500k) | $15,000–$25,000+ | $2,500–$7,500 (all-in setup + admin) |
| Category | Probate (Formal Administration) | Revocable Living Trust |
|---|---|---|
| Attorney Fees | ~$30,000 (3% of estate) | $2,500–$6,000 (setup + post-death help) |
| Court Filing Fees | $400–$500 | $0 |
| Personal Representative Fees | ~$30,000 (3% of estate, if taken) | $0–$2,000 (optional fee to successor trustee) |
| Publication & Notification Costs | $150–$300 | $0 |
| Accounting & Appraisal Fees | $1,000–$3,000 | $1,000–$2,500 (often simpler, but still needed) |
| Bond Premium (if required) | $1,000+ | $0 |
| Time to Settle Estate | 9–18 months | 1–3 months |
| Privacy | Public court record | Private |
| Control & Flexibility | Limited (requires court approval for many steps) | High (trustee can act immediately and privately) |
| Typical Total Cost | $60,000–$70,000+ | $4,000–$10,000 total |
With a $1 million estate, probate could cost 6–7% of the estate and take up to 18 months. A revocable living trust typically costs less than 1% overall and avoids nearly all delays and court oversight.
Probate is often slower, more expensive, and public. A revocable living trust costs more up front but saves money in the long run, speeds up distribution, and keeps matters private.
Ready to plan? Give Emily Hicks a call.
