The costs of settling a probate estate can be substantial. The primary probate costs are as follows:
Court Fees: If the estate assets are worth between $300,001.00 and $500,000.00, the court fees will be at least $1,000.00 and potentially $1,500.00. If the estate assets are greater than $500,000.00, the court fees will be at least $2,000.00 and potentially $3,000.00. Smaller estates will pay smaller fees. Estates involving any litigation will pay greater fees.
Executor Commissions: These are fixed by law at 5% of the first $100,000.00 of estate assets, 4% of the next $200,000.00, 3% of the next $700,000.00, and 2.5% of the next $4,000,000.00. (Note: If a family member is serving as Executor, these fees will at worst be paid to that family member or may be waived).
Attorney Fees: There is no fixed percentage payable to attorneys or other professionals (accountants, appraisers, etc.). While the actual fees will depend upon the work required, the total fees for all professionals can be roughly estimated at about 4% of the gross estate.