Introduction
When dealing with the loss of a loved one, the last thing you want to worry about is the legal process that follows. This is where probate attorneys come in. But how much do California probate attorneys charge for their services? This blog post will provide a comprehensive understanding of the costs associated with hiring a probate attorney in California.
Understanding Probate
Probate is the legal process that takes place after someone dies. It involves proving in court that a deceased person’s will is valid, identifying and inventorying the deceased person’s property, having the property appraised, paying debts and taxes, and distributing the remaining property as the will (or state law, if there’s no will) directs. California probate attorneys charge for their services to guide families through this process.
Probate Attorney Fees in California
California probate attorneys charge based on a statutory fee schedule set by the California probate code. This fee is calculated as a percentage of the gross value of the probate estate, which includes all assets owned by the deceased at the time of death, excluding non-probate assets.
Here’s a breakdown of the statutory fee schedule:
- 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.
- 0.5% of the next $15 million.
- For estates above $25 million, the court will determine the fee.
This means that California probate attorneys charge $4,000 for the first $100,000 of the estate, $3,000 for the next $100,000, and so on. For example, if an estate is worth $500,000, the probate attorney’s statutory fee would be $13,000.
Extraordinary Fees
In addition to the statutory fees, California probate attorneys charge ‘extraordinary’ fees for services that go beyond the usual probate process. These might include selling real estate, litigating a lawsuit, or managing a business. These fees are not set by law and are determined on a case-by-case basis.
Conclusion
While the cost of hiring a probate attorney in California can seem high, it’s important to remember the value of the services they provide. They navigate the complex probate process, ensuring all legal requirements are met and potentially saving the estate from costly mistakes. If you’re facing the probate process, it’s advisable to consult with a probate attorney to understand the potential costs and benefits.
Disclaimer: This blog post is intended for informational purposes only and does not constitute legal advice. Always consult with a licensed attorney for legal advice related to your specific situation.