What are the costs to probate an estate in CA?
It’s not something most want to think about. Yet, the costs of avoiding dealing with these questions can make that inevitable moment even harder for everyone. Avoiding this conversation and taking the simple smart actions to ensure an estate is passed on to designated heirs, can mean the complete waste of a lifetime of work and discipline, and sets a precedent likely to be repeated by those you love too.
If you don’t think it’s that serious, just consider the costs and consequences of failing to prepare.
The Costs of Probate in California
There are multiple fees and costs associated with probate in CA, including:
- · Court filing fees
- · Estate appraisal fees
- · Compensation to attorneys and representatives
The basic statutory fees for a probate case in California scale in relation to the value of the estate. This can range from $4,000 to over $163,000. The court can also allow or assess greater fees for cases they consider complex, or which have higher values.
The Pros & Cons of the Probate Process
There is an advantage of allowing an estate to fall into the probate court. That is allowing for a judge to hear arguments and solve disputes between competing heirs. However, the cons can include; elimination of privacy, risk of your desires not being fulfilled, and extended processing times. That’s all in addition to the costs.
If an estate has to go through the probate process in California it means months of legal hoops, stress, and filing papers. Some may just not make it through that. At best it can mean heirs are left without access to financial resources and assets while the cases hangs in the balance.
Ways to Lower the Risk, Costs & Time Associated with Probate
Fortunately, there are several ways to lower and avoid the risks, costs, taxation, and time frames associated with probate of an estate in CA.
- · Wills
- · Durable powers of attorney
- · Trusts
- · Corporations
If you want to avoid the cons of probate, this is time to get proactive and talk to an expert about putting the right legal protections in place.
Authored by Titanium Asset Protection
Titanium Asset Protection is an elite asset protection firm with licensed California attorneys on staff who specialize in asset protection, trusts, corporate law, succession planning, bankruptcy, real estate, and tax law. Our team has successfully represented clients to the highest levels of the justice system in fighting to protect them, and their finances, with lead counsel Matt serving as the Ethics Chairman for Le Tip International, The Chapter of Orange for 15 years, being an honored member of the revered Wealth Counsel.