Florida Senate - 2020                                    SB 1428
       
       
        
       By Senator Bradley
       
       
       
       
       
       5-01271A-20                                           20201428__
    1                        A bill to be entitled                      
    2         An act relating to attorney compensation; amending s.
    3         733.6171, F.S.; authorizing certain compensation for
    4         services of attorneys in formal estate administration
    5         to be based on the compensable value of the estate;
    6         deleting a presumption that such compensation is
    7         reasonable if it is based on the compensable value of
    8         the estate; providing an effective date.
    9          
   10  Be It Enacted by the Legislature of the State of Florida:
   11  
   12         Section 1. Subsection (3) of section 733.6171, Florida
   13  Statutes, is amended to read:
   14         733.6171 Compensation of attorney for the personal
   15  representative.—
   16         (3) Compensation for ordinary services of attorneys in
   17  formal estate administration may be is presumed to be reasonable
   18  if based on the compensable value of the estate, which is the
   19  inventory value of the probate estate assets and the income
   20  earned by the estate during the administration as provided in
   21  the following schedule:
   22         (a) One thousand five hundred dollars for estates having a
   23  value of $40,000 or less.
   24         (b) An additional $750 for estates having a value of more
   25  than $40,000 and not exceeding $70,000.
   26         (c) An additional $750 for estates having a value of more
   27  than $70,000 and not exceeding $100,000.
   28         (d) For estates having a value in excess of $100,000, at
   29  the rate of 3 percent on the next $900,000.
   30         (e) At the rate of 2.5 percent for all above $1 million and
   31  not exceeding $3 million.
   32         (f) At the rate of 2 percent for all above $3 million and
   33  not exceeding $5 million.
   34         (g) At the rate of 1.5 percent for all above $5 million and
   35  not exceeding $10 million.
   36         (h) At the rate of 1 percent for all above $10 million.
   37         Section 2. This act shall take effect July 1, 2020.