Probate - How much does it cost?

Not only are people interested in how long probate will take (as discussed in the prior posting) but also how much will it cost. The cost of probate depends upon many factors as well. Does the jurisdiction (state) have a specific cost based upon the size of the estate? There are bills that have to be paid, professional service fees for legal and tax matters, cost of posting a bond, if required, legal notice/advertisement costs, cost associated with the sale of assets such as real estate, reimbursement for administrator/executor expenses or payment of a fee, among many other things that may arise. Many of these costs apply whether there is a will that must be probated or a trust that has been set up, depending upon its terms and conditions.

It is important that you address the cost as well as the time associated with probate during the estate planning process. You can save more money for your heirs with proper advance planning. We are available to answer your questions. Call for a free consultation.