In California, the probate attorney and executor fees are calculated based on the gross value of the assets owned by the deceased person, called their “estate,” not the net amount after debts. The estate administrator, also called the personal representative, the executor, or the successor trustee, is entitled to the same amount of fees as the probate attorney. The statutory fees are set by Probate Code 10810 and follow a tiered percentage structure:

• • 4% of the first $100,000   ($4,000)
  • 3% of the next $100,000   ($3,000)       
  • 2% of the next $800,000
  • 1% of the next $9 million
  • 0.5% of the next $15 million
  • A reasonable amount for estates over $25 million, determined by the court.

Probate Calculator – To determine how much it would cost your heirs to go through Probate Court to transfer assets which are listed only in your name, or owned jointly by you and your spouse or domestic partner. The total amount value of real estate does not get reduced by the amount of mortgage on the property. Probate fees are based on the fair market value of all assets as of the date of death. All bank accounts over a certain amount require a living adult beneficiary.  Otherwise, the probate court is required to intervene in order to legally transfer the assets to the heirs. LINK TO PROBATE CALCULATOR

Probate Deposit $2,500 due at time of signing as deposit for fees, filing expenses, publication, and postage. Statutory attorney fees per probate code are paid at the end of the case, based on statutory calculations as outlined above. . 

The statutory attorney fees above do not include:

• Court filing fees
• Deed preparation and recording / filing fees
• Appraisal costs to Probate Referee
• Bond fees (if required)
• Publication and mailing expenses
• Potential litigation costs if disputes arise

If the estate faces legal challenges—such as will contests or creditor disputes—probate can become significantly more expensive and time-consuming as it is generally billed at an hourly rate. In Probate, the most valuable asset is usually real estate that people will fight over. By having a Revocable Trust or Transfer on Death Deed, you remove your most expensive asset from probate court costs. A Will cannot transfer real estate; a Will giving away real estate but no Trust or Transfer on Death deed means the house will still have to go through probate court to transfer title to the beneficiaries. 

BASICS OF ESTATE PLANNING (as described by Katie):

While you’re alive, you need two Powers of Attorney.  A health care power of attorney in case you are in a coma and can’t communicate, you name someone to speak on your behalf regarding medical treatment options.  A Financial power of attorney allows your agent to act as if they are you with your money.  Both these powers of attorney die with you, and have no power after the death of the signer. Bank accounts are automatically transferred to the named pay-on-death beneficiary on the account, regardless of what your Will says. Putting your Trust as the beneficiary on your accounts means they will be distributed according to the directions you put in your Trust, including back up beneficiaries or splitting funds among multiple beneficiaries. 

After you die, (hopefully many years in the future), you need a Will, and possibly a Trust. The number one factor on which one should be used is whether or not you own real estate. A Will alone cannot transfer real estate.  Online businesses, corporate holdings, or crypto-style financial holdings should use a designated and experienced account manager, as well as an alternative administrator. You will need to provide additional information to verify ownership and account holdings.

If you don’t own real estate, you would need:

• Power of Attorney for Health Care 
• Power of Attorney for Finances
• Beneficiary Designation letter for Banks
• Last Will and Testament 

This simple estate package is $250 for an individual; for couples $500.

ESTATE PLANNING WITH REAL ESTATE:

Using a Revocable Living Trust or a Transfer on Death Deed avoids probate – you name a beneficiary to inherit their real property avoids probate on the most expensive thing you own – your house. The term “Revocable Trust” or “Living Trust” mean the same thing – it only means that the trust can be changed during the lives of the Trustees.  A Revocable Trust becomes Irrevocable (cannot be changed) as of the death of the signer(s).  It is “revocable” and can be changed only during the signers’ lifetimes. 

Transfer on Death Deed – This is a new legal instrument, it’s a recorded beneficiary deed for one property, each owner must sign and record it with your County Recorder’s office, where it sits on your property title, and when you die, it names a specific beneficiary for the property. Limited to residential property of less than four units in California. Can be revoked.

• Best for: Single person with one or two known adult beneficiaries.
• Pros: Cheaper and more efficient than a Trust, requires minimal administration.
• Cons: Cannot name a secondary or contingent beneficiary in case the person you name passes before you. Does not cover any other assets than this one property.

Revocable Living Trust – A legal agreement in which you provide a set of directions for your trustee to follow, lists your assets that are held “in trust”, and can include contingent beneficiaries and back up provisions.  No recording needed, remains private. Instead of the deed listing “J and J Smith”, the deed would list the owner as the “Smith Revocable Trust.”

Within your Trust document, you name a successor Trustee. After you die (hopefully many years in the future), that’s the person in charge who is going to send out notices, pay for your funeral, resolve your debts and distribute your assets according to the directions you put into your Trust document. The Trust holds title to your house, so using the Trust authority, the successor trustee can transfer the house to your beneficiaries without any court supervision. This is called Trust Administration, and the attorney fee is typically 1% (one percent) of the gross Trust assets to be transferred. There are legal notices to be sent to every relative of the deceased, even if they are not included in the Trust. A sole beneficiary is still required to follow legal requirements of notification and documentation, or they remain open to legal liability for negligence.

Notice must be provided to State and Federal government agencies. There is a 120 day objection timeframe for beneficiaries or not included parties to challenge the Trust. If the notified heirs do not file an objection within the 120 days of the notice, they are prevented from objecting in the future. Failure to send this notice means the statute of limitations to challenge the trust remains open.

• Best for: Married Couple with one or more properties.
• Pros: Can change trust language during your lifetime, provide detailed directions on what you want, include back up beneficiaries, contingent beneficiaries. Can revoke.
• Cons: Requires legal assistance to correctly administer after death of first spouse. Trust administration fees are 1% of the trust’s value. Property is typically distributed to beneficiaries after the death of the second spouse. A Divorce decree automatically voids a trust, so it is no longer valid. The ex-spouse cannot inherit from their divorced partner, so divorcing parties need to distribute real property after divorce via a separate deed before these issues arise.

Single Estate Plan