The term signifies an online tool designed to estimate the statutory compensation payable to an individual appointed to administer an estate in Florida. This mechanism typically calculates the fee based on the gross value of the probate estate, as defined by Florida Statutes. For instance, if an estate is valued at $500,000, the tool applies the state’s fee schedule to provide an approximate compensation amount.
These tools offer several advantages. They furnish beneficiaries and prospective personal representatives with a transparent preview of anticipated administration expenses. Such resources can aid in financial planning for estate settlement and promote a better understanding of the costs involved. Historically, calculating these fees required manual computations, potentially leading to errors or inconsistencies. The advent of automated calculators streamlines the process and improves accuracy.
