What is the cost of probate and what is the length of the process?
Both cost and duration of probate can vary substantially as a result of several factors. Basically, the value of the estate and the complexity of the estate will determine cost and time frame. If estate planning documents have been well drafted, well funded and are properly in place, the length of time to close the estate and distribute the assets will be shortened considerably. If there are contests or disputes regarding the will amongst beneficiaries or creditors, the length of time to finalize the administration will be affected as well as the costs involved. Common costs to settle an estate include personal representative or trustee fees, attorney’s fees, court fees, accounting fees and appraisal costs. It is difficult to estimate the total of these expenses, but a normal range would be somewhere between two percent and seven percent of the total value of the estate. The length of time to settle an estate may also vary significantly, but generally speaking most estates can be settl
