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How Much is Probate Going to Cost?

For you to know exactly how much probate will cost, you should call several probate attorneys to inquire, many probate attorneys offer a one-time free consultation,  The information that I am going to present here was taken from information provided by an attorney, and it doesn’t intend to be legal advise or a set fee in this industry.  Probate attorneys work in many different ways, with some charging a fee per hour, some charging a flat fee, and some charging a percentage of the estate, or possibly a combination of all of the above.

Based on a table from “Federal Estate and Gift Tax Reports” published by the Commerce Clearing House, the estimated probate and administrative costs of an estate are as follows:

 

Estate $100,000  …………………………………………  Cost   $7,900

Estate $150,000  …………………………………………  Cost $ 11,200

Estate $200,000  …………………………………………  Cost $14,400

Estate $260,000  …………………………………………  Cost  $18,100

Estate $380,000  …………………………………………  Cost $24,900

Estate $500,000  …………………………………………  Cost $35,000

Estate $700,000  …………………………………………  Cost $46,900

Estate $1,000,000  ………………………………………  Cost $64,000

Estate $10,000,000  …………………………………….  Cost $520,000

These figures should be considered as “possible costs” as was explained above, different attorneys have different methods of charging.

Attorneys who prepare wills and hold on to the original of that will do not have to be the same ones who probate the will.  The beneficiaries should be able to choose any attorney they desire, and inquiring as to attorney fees from several different attorneys would be appropriate.  There are many steps that can be taken to avoid probate.  One of the most popular methods is to have a living will.

 

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(2) Comments

  1. Lynn Redman

    Great information! One of my friends was in a dilemma regarding how much the probate will cost . You have explained it so nicely. Thanks!

    1. Angela Ward

      You are very welcome!

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