PROBATE

In General: The responsibility of probate is to:

• validate the will,
• ensure that creditors are paid, and
• distribute assets to heirs.

Assets remaining in your name alone at the time of your death are at risk of probate. There are some exceptions for small estates and special situations.

Cost: In California a $100,000, probate Estate automatically generates a combined fee of $6,300 for the attorney and executor. This is usually the base cost with extras added on. The executor automatically earns a fee equal to the attorneys basic fee unless waived and often times extraordinary fees are awarded for the management of difficult problems such as the sale of assets. The courts try to limit these extraordinary requests however, they are often granted if the attorney clearly demonstrates he had extra problems. Of course, some Judges are more liberal in granting these requests than others. The uncertainty of fees, the demand for documentation and time delays are at times very unsettling to beneficiaries.