Probate/Trust Administration

Q. What is probate?
A. Probate is the court process that happens after someone dies. It allows creditors to make a claim against the estate, and sets forth a plan for the distribution of the assets. It requires someone act as the administrator — usually the executor of the will. Probate can be expensive. Attorneys fees are set by statute; for an estate worth $200,000, attorneys fees will be about $7,000. The bigger the estate, the more expensive the fees. Probate also takes time, and it is a public process; virtually everything filed in a probate is retained in publicly accessible court files.

Q. When is a probate required?
A. Probate is only required when the probate-able estate is worth more than $100,000. With appropriate estate planning, probate can often be avoided altogether. If a person dies with a trust that holds the person’s assets, then no probate is required.

Q. How long does a probate take?
A. Realistically, the simplest probate takes at least six months, but can take years.