Costs of Probate
The costs of probate include, among other costs along the way, attorney fees, executor fees, appraisal fees, publication fees, and filing fees. Attorney's fees and executor's fees are set by statute as a percentage of the value of the estate assets.
The percentages for probate fees paid to an attorney and/or executor are as follows:
- 4 percent of the first $100,000
- 3 percent of the next $100,000
- 2 percent of the next $800,000
- 1 percent of the next $9,000,000
- 0.5 percent of the next $15,000,000
It is important to understand that if both the attorney and the executor elect to collect a fee, they each will receive the particular percentage of the gross estate. For example, if an estate is worth $100,000, and fees must be paid to both an attorney and an executor, each would receive $4,000.
Appraisal fees depend on the value of assets of the estate, and are ordinarily 0.1% of the appraised assets of the estate. Publication costs between $500-$1,000 and is required to commence the probate proceedings. Each petition filed with the court requires a filing fee of $435.00 and may include a $30.00 charge for a court reporter. A minimum of two petitions must be filed in a probate proceeding.
Work with a Skilled Legal Team
If you are facing probate, Giammichele Law, APC is here to help the process go as smoothly and efficiently as possible. Contact us today to schedule a free consultation with our experienced probate lawyer in Laguna Woods.