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The following article was published in our article directory on October 16, 2013.
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What You Should Understand About Probate in California

Article Category: Legal

Author Name: Mortensen Law Office

In some states, probate is free of charge. In California, however, probate has to be paid for. According to California law, the price of probate is determined by the cost or value of the estate. If you do not know much about probate, you should search for help from an lawyer. A probate lawyer should be able to aid you determine the costs and charges involved.

Probate involves court fees which are determined by the state law. You may have to pay a few hundred dollars or several thousand. Separate from court fees, there are also personal representative or executor fees. Just like court fees, these are also determined by the state law.

Personal representative or executor fees may be fixed or equal to a certain percentage of the value of the estate. The state may dictate a price that it deems to be reasonable. However, the personal representative or executor may still ask you for additional payment for any services rendered beyond the basic probate services.

You will also require to pay for attorney's fees. Just like the previous fees, this, too, is determined by the state law. It is also quite similar to personal representative or executor fees. With attorney's fees, your attorney may ask for additional fees for the services he rendered beyond the rudimentary probate services.

Moreover, there are accounting, appraisal and business valuation, and bond fees. Accounting fees generally depend on the total value of the estate as well as the type of assets owned. For example, a little estate with twenty-five different bonds and stocks may have higher accounting fees compared to a large estate with a bank account and a residence.

Nevertheless, if the estate is on a state or federal level, or it is taxable, these fees may contain preparation and filing of estate tax returns. This will only occur, however, if the lawyer does not prepare or file the returns.

Appraisal and business valuation fees are necessary to determine the values of personal property, business interests, and the real estate. Business valuation fees may cost a few thousand dollars; but appraisal fees for private property may be higher. Personal property may include trinkets, art collections, cars, boats, and antique pieces.

On the other hand, bond fees are determined by the Last Will and Testament. Before a personal representative or an executor is named, he has to pay for a bond that is dictated by the probate judge.

Still, you should expect miscellaneous fees. These fees can cover postage fee, mail notices, personal property insurance, costs of shipping of personal property, and costs of moving private property.

Mortensen Law Office
Trust & Probate Attorneys, P.C.
22807 Lyons Avenue
Newhall, CA 91321
www.mortensenlaw.com

Keywords: Attorney, California law, Tax law, Trust lawyer, Probate lawyer, Mortensen Law, Medicare, Attorney

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