What are probate fees?

Probate fees are the cost of going to probate court.

Why are you going to probate court? If it’s during someone’s lifetime, then you’re probably going to get the right to make financial or medical decisions on behalf of someone who is incapacitated. (Spoiler: If someone has a financial power of attorney or a healthcare power of attorney, then you won’t need to go to probate court to get the right to do this!)

If you’re going to probate court when someone dies, it’s likely because they ONLY have a will OR they have no will. (That’s right, having just a will still means going to probate court.) In April 2022, the law changed and says that if you have $184,500 that’s not in a trust, then you can still avoid going to probate court. Otherwise, here are the fees, which are set by state law in California.

Probate fees are based on the gross assets of the decedent (the person who died).

•  4% of the first $100,000

• 3% of the next $100,000

• 2% of the next $800,000

• 1% of the next $9,000,000

• .5% of the next $15,000,000

These fees are payable to BOTH the executor and the attorney that they hire.

For an estate with gross assets of $500,000, the fees are $13,000 for the executor and $13,000 for the attorney, for a total of $26,000.

For an estate with $1,000,000 in gross assets, the fee is $23,000 for the executor and $23,000 for the attorney, for a total of $46,000.

For an estate with $5,000,000 in gross assets, the fee is $61,000 for the executor and $61,000 for the attorney, for a total of $122,000.

There are several ways you (or your estate) can avoid paying these kinds of fees. Contact me for a complimentary consultation to discuss your options.