How much does probate cost?
The cost of probate depends on many factors including:
- State law
- Local practices
- The complexity of the estate
- Whether a probate attorney is involved
- Whether the will is challenged
- Executor fees, if any
- The cost of the surety bond
As a general rule, probate can cost anywhere from 2% to 7% of the estate’s total value. The cost can be even higher with complex estates and especially if the will is contested.
Many of these fees are set and can’t be changed or negotiated. Costs can depend greatly on your state. In some states like California, statutory attorney fees are set as a percentage of the estate’s gross value, not the net value which is usually lower. Only the following states have percentage fees allowed by statute: Arkansas, California, Florida, Iowa, Missouri, Montana, and Wyoming. In other states, probate attorneys may charge a flat fee or by the hour.
With many professionals you will use, you may be able to negotiate a lower rate, however, even when the statute provides for a percentage fee.