You can probably count on your estate paying anywhere from 4% to 7%, or even more in some isolated cases. The filing fee to open probate is typically a few hundred dollars. It’s the same for all estates in some states, while others charge on a graduated scale with more valuable estates paying more. Some states simply provide for a “reasonable fee” without citing a specific amount. Others set fees that are equal to a certain percentage of the value of the property being probated, such as 4% of the first $100,000, then 3% of the next $100,000. A personal representative can ask for “extraordinary fees” for services rendered above and beyond basic probate duties, such as if the decedent leaves a business that must be sold or otherwise transferred to beneficiaries. Not all estates require an attorney, however. Less complicated estates would most likely not bear this cost. Accounting fees can include the preparation and filing of estate tax returns if the estate is taxable at the state or federal level. Sometimes the attorney for the estate will prepare and file these returns. Some probate judges have required that bond be posted even when the estate has minor beneficiaries. You can waive the bond requirement in your last will and testament, but a judge might overrule your wishes if children are involved.
