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Probate Costs...

APPRAISAL OF THE ESTATE:

Estates are appraised by probate referees, who determine the fair market value of the asset.  The fair market value includes mortgages and other debts, which can result in an appraisal of the property that is higher than the equity that the deceased owned in the property.  Probate referees are appointed by the state controller's office and they receive a fee based on 0.1 percent of the assets that have been appraised.

FEES CAN GO HIGHER:  

In probates that are complicated by lawsuits or tax problems, the attorney and executor can ask the judge to approve fees that are higher than those set by state law. 

COURT COSTS:

In addition to the statutory fees, there are costs for appraisal fees, publication costs, and miscellaneous fees charged by the county.  A typical estate might incur $1,000 to $2,000 in court costs and other mandated fees.

ADVANTAGES OF PROBATE:

The proceedings are controlled by a judge, who can decide disputes between heirs or between the heirs and the executor.  Creditors are required to submit their claims against the estate within a four-month period, provided they have been notified of the probate.  The executor is required, in most cases, to prepare an accounting and report of the executor's activities.

DISADVANTAGES OF PROBATE:

The cost is usually much higher than would be required for the administration of a living trust for an estate valued at the same amount.  It usually takes several months longer to probate an estate than to administer a trust.  Most estates don't need the supervision of the court unless disputes occur between the participants.

AVOIDING PROBATE:

Many estates do not need to be probated.  For information about avoiding probate, contact an Trust Masters Corporation associated attorney.

HOW MUCH DOES PROBATE COST IN CALIFORNIA? California Probate Code section 10810 sets the maximum statutory fees that attorneys can charge for a probate.  Higher fees can be ordered by a court for more difficult cases.  The fees are four percent of the first $100,000 of the estate, three percent of the next $100,000, two percent of the next $800,000, one percent of the next $9,000,000, and one-half percent of the next $15,000,000. For estates larger than $25,000,000, the court will determine the fee for the amount that is greater than $25,000,000.

The fees listed below are the California statutory fees used to compensate attorneys and executors in probate cases for various sizes of estates.  If both the attorney and the executor receive a fee, the amount paid will be double that shown below.
 

Estate Value

Statutory Fee

$100,000

$4,000

$200,000

$7,000

$300,000

$9,000

$400,000

$11,000

$500,000

$13,000

$600,000

$15,000

$700,000

$17,000

$800,000

$19,000

$900,000

$21,000

$1,000,000

$23,000

$2,000,000

$33,000

In addition to the fees shown above, the filing fees charged by the Superior Court vary, depending on the size of the estate. Some representative fees are as follows:

Size of Estate

Court Filing Fee

Under $250,000

$320

$250,000 to $500,000

$385

$500,000 to $750,000

$485

$750,000 to $1 million

$635

$1 million to $1.5 million

$1,135

$1.5 million to $2 million

$2,135

$2 million to $2.5 million

$2,635

$2.5 million to $3.5 million

$3,635

 

 

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