Scary Claims About Probate Fees and Costs

Scary Claims About Probate Fees and Costs

| Dec 1, 2020 | Blog, Estate Plan, Estate Planning, Trusts |

richard-land

by Richard S.Land – Have you heard scary claims that, if you do not have a Living Trust or avoid probate, probate costs and fees may take 50% of your estate? Maybe you weren’t fooled but you may have been confused. We would like to help clear up the confusion.

When we prepared the update of our video series on Estate Settlement in Connecticut, we finished with a new Part 3 which includes a segment on Probate Court fees. Please click here, or on the video link below, to watch Part 3.

Part 3 also covers the fees of Executors and Attorneys and the purpose of a probate accounting. When is an accounting necessary? What information should be included in the account? And, why should your Executor prepare an account?

For a complete description of the estate settlement process, go to our full playlist entitled Estate Settlement in Connecticut.

Part 1 covers the probate process, the probate application, preparation of the inventory, and common issues an Executor should be aware of.

Part 2 covers significant legal issues, tax reporting and payment obligations.

Part 3, partly described above, caps off the presentation with a discussion of accounting duties, probate expenses and common problems faced by an Executor.

Part 3 also covers the fees of Executors and Attorneys and the purpose of a probate accounting. When is an accounting necessary? What information should be included in the account? And, why should your Executor prepare an account?

Please remember to view our other recently updated presentations entitled Basic Estate Planning after the TCJA and Trust Administration in Connecticut.

If you have questions about estate settlement and other related matters including Wills, trusts and estate planning, please contact us. We are here to help.