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WHAT IS PROBATE? Probate is the court process of transferring assets from someone who has passed away to their heirs. Estates with values over $150,000 must be processed through court monitored procedures, which typically take 8-9 months. Estates with values under $150,000 qualify for a much shorter summary probate process.
HOW LONG DOES PROBATE TAKE? Probate is generally categorized into three phases: 1. Opening and appointment phase; 2. Creditor claim and inventory period; and 3. Estate administration and disbursement (closing). The first phase takes approximately 6 weeks (based upon how quickly a hearing can be obtained on the court's calendar). The second phase, the "creditor claim" period is a minimum of 4 months. The third phase is based upon the status of the estate, but typically takes a minimum of 2-3 months.
WHAT ARE PROBATE COSTS? Attorney fees are statutory and usually are about 2.5%-4% of the total value of the estate. Costs of filing and other administrative fees are typically between $1,000 and $2,000.
CONTACT FOR A FREE 30-MIN CONSULTATION: Contact our firm to discuss the particulars of your loved one's estate, and how our firm may represent you in proceeding through the probate process. Depending on the situation, we may be able to represent you for less than the statutory fees and costs.