PROBATE IN CALIFORNIA

Most people who go through probate do not wish to repeat the experience. Probate is a process by which the Court supervises the final payments of the decedent's debts and expenses and then distributes the remaining estate to the beneficiary. Probate costs include court fee, appraisal fees, attorney fees and executor fees. Court costs and appraisal fees are modest: a couple of hundred dollars for the average estate. The real costs are the attorney and executor fees. In California, attorney and executor fees are as follows:

1. 4% of the first $15,000; maximum $600.
2. 3% of the next $85,000; maximum $2,550.
3. 2% of the next $900,000; maximum $18,000.
4. 1% of the next $15,000,000 and 5% thereafter.

For example, to probate a $100,000 estate it will cost approximately $6,300. In comparison, on average it costs between $2,500 and $3,500 to have a living trust created unless you have a large estate.

Another issue is the time it takes to go through probate. Anyone involved with the court system knows there is no such thing as a quick court proceeding. A probate proceeding in Southern California can take a year or even two. A living trust almost always allows your beneficiaries to receive their portion of your estate quicker than going through probate.

Probate is also a public proceeding. Anyone can find out what you left to whom. Perhaps you would prefer to keep things private. A living trust does not become a public document.

As you can see one way to avoid the negative aspects of probate is to have a living trust. For more information on Living Trusts please see the Living Trust Article or contact us for a free consultation.

Back to Publications