Probate

 

        Probate is required when an estate is over $150,000 in gross value and there are assets in the name of the decedent that need to be transferred to beneficiaries. This is the case whether or not the decedent had a will. If a decedent owned a home in Orange County or San Diego County, his or her estate will definitely be above this value.

        What is probate? Probate is a court process wherein a person becomes executor or administrator of the decedent’s estate and seeks approval from the Court to transfer assets to the decedent’s beneficiaries as named in the will or to the decedent’s heirs as determined under Probate Code Sections 6400-6414. The process is time consuming, generally taking 9-18 months and the fees are substantial. The following schedule shows the amount of the fees for the attorney and executor in a probate matter, based on the gross value of the estate (value before debts are considered). An attorney and executor can also request extraordinary fees when unusual  circumstances arise and extra work is required.


Statutory Fees:


             ASSETS                                       FEES


            $100,000                                      $8,000

            $500,000                                    $26,000

         $1,000,000                                    $46,000

         $3,000,000                                    $86,000


Plus Extraordinary Fees if awarded by the Court

Filing Fees = $870

Bond Premium

    $500,000 estate = @$1,760

    $1,000,000 estate = @$2,760

Publication of Notice of Death = @$500

Probate Referee’s Fee to Appraise Property = .1% of Gross Value



If you need assistance with a probate matter, you may call our offices to schedule a free consultation.




JEFFREY R. HARTMANN

Attorney at Law