LAW OFFICE OF CHRISTIE ASSELIN

estate plan with christie blog/vlog

  • Home
  • Estate Planning
  • Probate And Trust Administration
  • FAQs
  • About
  • Contact
  • Blog
  • Accessibility

2/21/2019

What Is Probate Court And Why Do I Want To Avoid It?

Read Now
 
​Via an estate plan, you can avoid probate, which will save your loved ones from paying probate fees and potentially years of probate proceedings. 

Probate Court is the court responsible for overseeing the administration of a person’s estate when that person did not have an estate plan.  
​
Probate is avoided with an estate plan, and in particular with a trust, because became assets that are transferred to a trust before a person’s death are not part of the person’s probate estate.  Thus, they are not subject to probate proceedings. 

Why does it matter?  The bottom line is that it if properly funded a trust will save your loved ones time and money.

Probate fees in California can be substantial, and include statutory fees as well as extraordinary fees that are commonly granted by the probate court.   Having an estate plan in place will likely save significant administrative costs.  In addition, a typical trust often can be administered in a few months; however, a typical California probate estate lasts a minimum of a year to 18 months.

The statutory probate fees are as follows:

​California Statutory Attorney Fees for Probate
• 4% of the first $100,000 of the gross value of the probate estate.
• 3% of the next $100,000.
• 2% of the next $800,000.
• 1% of the next $9 million.
• .5% of the next $15 million.

In California, if you own a home, worth around $1,000,000, a number that is certainly not unheard of in this state the probate fees to probate just that asset would be as follows:

4% of the first $100,000 $4,000,000
3% of the next $100,000 $3,000.00
2% of the next $800,000 $16,000.00
Total Probate Fees: $23,000.00

These fees do not cover other administrative costs such as other attorney’s fees and executor fees.  Those can be expensive as well.  Thus, it’s easy to see how this can add up extremely quickly.  You can save your loved ones the costs, both time-wise and financially, of probate by avoiding it via creating an estate plan. 

Please contact me for a complimentary consultation to discuss your options with regard to this aspect of estate planning.
​ 

Submit

Share


Comments are closed.
Details
    Picture

    Author

    Hi! I'm Christie Asselin, the attorney behind the Law Office Of Christie Asselin. Welcome to my blog!  I write about estate planning, parenting, wedding law and whatever else I think my clients could benefit from. Welcome! Questions? Drop a line anytime! 

      Email me

    Submit

    Archives

    June 2022
    May 2021
    January 2021
    December 2020
    October 2020
    August 2020
    October 2019
    July 2019
    May 2019
    February 2019

    Categories

    All
    Assisted Reproductive Technology
    Estate Planning
    Parenting

    Let's stay connected!

    RSS Feed

Home

About

Privacy Policy
​Terms & Conditions

Blog

Contact

Copyright © 2020
Unauthorized use and/or duplication of this material without express and written permission from this site’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Christie Asselin with appropriate and specific direction to the original content.

Attorney Advertising This communication may be considered attorney advertising. Previous results are not a guarantee of future outcome.No Attorney Client Relationship The use of any content provided on this site and your provision or submission of any information while using this site will not create an attorney-client relationship between you and Ms. Asselin. Please be aware that any information that you provide by reason of your use of this site is not privileged or confidential. The content of this site is provided solely for informational purposes: it is not intended as and does not constitute legal advice. The information contained herein should not be relied upon or used as a substitute for consultation with legal, accounting, tax, career and/or other professional advertising.
  • Home
  • Estate Planning
  • Probate And Trust Administration
  • FAQs
  • About
  • Contact
  • Blog
  • Accessibility