Probate

Probate is the legal process by which property owned by someone who has died without a trust in place effects the legal title and transfer of assets to their heirs. In other words, probate is simply determining who gets what assets when someone passes away, either by looking at the will, or if no will exists, then the laws of intestacy--laws that determine the hierarchy of heirs.

During a probate a court case will be opened and will remain open until the probate is closed, usually 9 to 12 months.  The fees are a percentage of the gross value of the estate as follows:
                   4% of 1st         $     100,000.00
                   3% of next       $     100,000.00
                   2% of next       $     800,000.00
                   1% of next       $  9,000,000.00
                   ½% of next      $  5,000,000.00

For all estates above $25,000,000.00, the fees will be a reasonable amount to be determined by the Court.

Probate law is a complex field and, practically speaking, requires an attorney's guidance.