What is the cost to Probate an Estate?
Probate is the court processes that transfer legal title of property from the estate of the person who has died (the “decedent”) to their beneficiaries.
The first thing to note is that many assets can (and often are) transferred outside of probate. For example, beneficiaries designations on life insurance proceeds or retirement account do not require a probate petition and the benefits are paid directly to a named beneficiary. Bank accounts that are set up as pay-on-death accounts (PODs) or “in trust for” accounts (a “Totten Trust”) with a named beneficiary also pass to the beneficiary without probate.
Moreover, California has “simplified procedures” for transferring property for estates worth under a certain amount (from $20,000 to $150,000 depending on the circumstances and the kind of property). These are also shortened proceedings to transfer property to a surviving spouse.
If summary proceedings do not apply (and if there is no other applicable means to transfer a deceased person’s property such as beneficiary designations or a trust) , there are a myriad of fees and costs associated with distributing assets of a deceased.
The following is a summary breakdown of Probate fees. The fees are provided for informational purposes only for a uncontested probate proceeding.
All costs are not derived from your own account, but from the proceeds of the deceased. “letters testamentary” and “court orders” to gain access to the deceased account.
Court Filing fees: $435.00 for each petition you have to file
Normally only 2 filing fees. They are:
Petition to probate
Petition for Final Distribution
Publication fee: $100-200.00
Certified Copies: $100.00
Typically .1% of the value of the appraised asset
Executor Fees: sum equal to the statutory attorney fees unless the executor elects to waive these fees.
Attorneys Fees Now below is a breakdown that a Set of fees by the State of California estate planning firm must abide by. That is why we say, “Pick the BEST Probate Law firm For Your Family”. You deserve the best attention to detail during this trying time.
4% of the first $100,000.00
3% of the next $100,000.00
2% of the next $800,000.00
1% of the next $9,000,000.00
.5% of the next $15,000.00
Above $25,000,000.00, court will determine
Normally in the state of California, it can take between 12 months to 2+ years depending on the circumstance. Of course, all costs are not derived from your own account, but from the proceeds of the deceased. “letters testamentary” and “court orders” to gain access to the deceased account.