When someone dies, the finances surrounding their estate need to be settled. From debts and taxes, which are as assured as death itself, to the dissemination of assets to their heirs, municipalities must designate an established process to confirm that these issues are resolved. This process is known as probate.
If you or someone you know is suffering the loss of a loved one, the last thing they need is to struggle with a complicated court-heavy probate system. Get help for your loved one’s probate process, and while you’re at it, keep your family from the headache when you die by putting the proper documentation in place for yourself. Call Rainey & Rainey, Attorneys at Law, LP, today at (254) 457-5083 to kill both birds with the same stone.
What Factors Into Probate Cost in Central Texas?
Every situation is different, and the same is true regarding probate. A probate process price can vary depending on factors such as:
- Estate size and complexity
- Fair contestants of the Will’s legitimacy
- Estate Planning the deceased had in place
- If probate attorneys are present
- Various other factors, to some extent
What Are the Common Fees Associated With Probate in Central Texas?
As in the previous point, probate costs can differ significantly depending on numerous factors. Several of those extant factors are the associated fees, such as but not limited to:
- Filing fees
- Court costs
- Various professional and attorney fees
- Surety Bond, protecting the estate’s and beneficiaries’ interests
- 5% Executor or Personal Representative compensation
The court process of probate is long and arduous, and each step requires new sets of professional eyes and skill sets to be present. And with that comes several costly fees, as these are jobs that professionals hold just like your own.
Do All Estates Go Through Probate in Central Texas?
The short answer to the above question is no; not every estate will have to suffer through a probate process. Some factors that may help an estate avoid probate are:
- The estate’s size: if it is less than $75,000 in value and there is no Will present, typically, a “small estate affidavit” is used instead of the entire probate process
- If any of the following were established before the estate’s owner died;
- Revocable Living Trust
- Joint Tenancy over title property and assets with a survivor
- Transfer on Death/Payable on Death policies for the estate or assets
How Much Does a Probate Lawyer Charge in Texas?
Depending on the situation and case, a lawyer may charge hourly or as a flat fee. There is no surefire way to guarantee a set price for a service as vast and varied as probate.
If you wish for a professional probate lawyer to consult you on what you can expect when entering or establishing probate measures, call the experienced team at Rainey & Rainey, Attorneys at Law, LP today: (254) 457-5083.