There are two primary disadvantages of the California probate process: time and money. The California probate courts generally take an average of 7-9 months to settle an estate; a “quick” settlement in a small estate (estate value under $150,000) can take several months as well.
Probate can also be expensive, although the state of California has guidelines for reasonable compensation of California probate attorneys and personal representatives.
California probate fees are based on the value of the estate and have been established as follows:
· 4 percent of the first $100,000
· 3 percent of the next $100,000
· 2 percent of the next $800,000
· 1 percent of the next $9 million
· .5 percent of the next $15 million
· Court-determined for estates over $25 million
Smart estate planning, including the use of a revocable living trust, can help your heirs avoid the time and expense of California probate and ensure they inherit the funds you intend for them to receive in a timely manner.
The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0042.