The term signifies an instrument designed to estimate the costs associated with the legal process of validating a will and distributing assets in California. This cost calculation often includes statutory fees for the executor or administrator and the attorney, as well as court filing fees and other related expenses. Utilizing such a tool involves inputting the estimated gross value of the estate’s assets, from which the instrument then generates an approximate figure for these anticipated expenditures.
Understanding the potential financial burden of estate administration is crucial for individuals engaging in estate planning. This foresight enables informed decisions regarding asset management, trust establishment, and other strategies aimed at minimizing probate costs and ensuring efficient asset transfer to beneficiaries. Historically, calculating these fees manually has been a complex process, dependent on specific legal codes and potentially requiring professional assistance. The advent of these estimation tools provides a simplified and accessible means of obtaining a preliminary understanding of these financial implications.