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What are the Costs Associated with Probate?

Probate is the process by which a will is approved as a valid legal document in court. A number of bumps in the road can factor into probate, making the process of distributing assets to beneficiaries more expensive and time-consuming. If you are in the midst of probating a loved one’s estate, our PA probate and estate administration attorney is here to help you every step of the way.

Estate Administration Fees

The estate administrator (in Pennsylvania, known as a “personal representative”) has a wide range of responsibilities, such as paying off debts and distributing assets to beneficiaries. According to Pa.C.S. §3314 (4.1), compensation for a personal representative must be based upon the “… actual responsibilities assumed and performed.” The personal representative fee is typically a percentage of the entire estate, which may be as low as 1.5 percent to as high as 5 percent.

Valuation Expenses

Part of the probate process involves taking inventory of the estate’s assets. Asset valuation is usually performed by professional appraisal services in order to accurately determine the fair market value of these assets. These expenses are typically paid out of the estate’s funds.

Debt Obligations

The personal representative is responsible for paying any outstanding debts owed by the estate out of funds. If the estate’s funds are insufficient, then it may be necessary to sell real property and other assets to cover the costs.

Taxes

In 2024, if the gross estate of the decedent is valued at $13.61 million or more, then a federal estate tax return must be filed. Some states also have estate taxes, although Pennsylvania is not among them. Additionally, the estate will need to file a personal income tax return (P-41 Fiduciary Income Tax Return) for any income that was earned during the applicable tax year.

Inheritance taxes may also apply, which will come out of each heir’s share of the estate. Transfers between surviving spouses or parents are subject to no tax, with other transfers being subject to a sliding scale.

A court notice must be published in two local newspapers (one general and one legal) providing details on the estate administration. All heirs, creditors, and other interested parties will be notified of the hearing. The personal representative will submit documentation regarding the estate and will often attend the hearing to be notified about their duties.

Attorney Fees

A probate attorney will guide you through the process of taking an inventory of the estate’s assets, paying off creditors and bills, arranging appraisal services, and distributing funds to beneficiaries. A probate lawyer typically charges on an hourly basis, with fees ranging from $150 to $650. The total cost to probate the estate will depend on its complexity.

Why Should I Hire a PA Probate and Estate Administration Attorney?

If you are probating a family member’s estate, guidance in filling out the appropriate court forms and meeting deadlines can help avoid any delays. Generally, estates over $50,000 need to go through probate, but our estate administration attorney will evaluate the estate to determine if probate is necessary. If any heirs contest the will, our attorney will help you in navigating that process as well. At Audi Law, PLLC, our PA probate and estate administration lawyer has seen it all, allowing us to comfortably handle a wide range of estate structures.

Questions Regarding Probate? Contact Our PA Probate and Estate Administration Attorney Today

If you are handling a family member’s estate, our legal team is ready to answer any questions you may have. At Audi Law, PLLC, we have assisted countless clients with much-needed assistance in navigating the probate process. To learn more or to schedule a meeting with a PA probate and estate administration attorney, contact us online or by phone today.