A tool designed to estimate the statutory compensation for attorneys and personal representatives in California probate cases. This calculation is based on a graduated percentage scale applied to the gross value of the estate’s assets subject to probate. For example, the tool would calculate a specific amount if the gross value is, say, $500,000, then a second percentage tiers down. The initial calculation represents the combined compensation amount, which is then typically divided equally between the attorney and the personal representative unless otherwise agreed upon or ordered by the court.
Determining potential costs involved in the probate process is crucial for estate planning and administration. It allows beneficiaries and executors to understand the financial implications of probate. This allows better budgeting and potentially exploring alternatives such as trust administration to minimize these expenditures. Historically, the regulated fee structure aimed to provide transparency and fairness in compensating professionals involved in probate cases. The availability of a way to forecast costs assists individuals in making informed decisions about their estates.
