Q
You keep saying “avoid probate.” Is probate bad?
Q
Timing.
Q
Public Process.
Q
Distribution According to Law.
Q
Cost.
Not to mention the additional fees that are associated with a probate:
- Petition filing fees – $465 per petition. There is a petition to both open and close a probate case.
- Publication fee – usually between $200 and $1000
- Bond fee – ranges greatly because it depends on the size of the estate and the estate representative’s authority over the estate assets; anywhere from a few hundred to a few thousand dollars
- Probate Referee fee (estate appraisal) – 0.1% of the total value of the gross probate estate
- Representative compensation – the executor/administrator is entitled to the same compensation as the attorney. This means that if the attorney is entitled to $8,000 in fees, then the executor/administrator would also be entitled to $8,000
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