If someone dies with no estate planning documents, their estate is required to go through probate. Probate is a court-supervised process that can take a significant amount of time to complete.
No one should have to pay for the cost of probate for someone’s estate. Instead, the money should come from the deceased person’s estate. Even if you pay out of pocket, you can be reimbursed.
There are several factors to consider regarding the probate process cost.
Cash in the estate
In some situations, the estate includes high-value assets like a house. However, there may not be any other assets included.
If this is the case, you may wonder how you will cover the cost of estate administration. There are a few options to pay the estate administration cost, including mortgage payments, court costs and attorney fees.
There are two options for the estate to get cash to pay for estate administration or to reimburse those who have paid out of pocket for the costs related to this. The first option is to get a “hard money loan,” and the second is to sell estate property during probate. Neither of these may be necessary, however, if there are liquid assets in the estate that are sufficient to cover the expenses.
Covering the cost of probate in California
Probate can be complicated, even in cases of simple estates. Knowing what legal options you have can help you manage the cost and ensure that your family gets what you have left to them.