A tool designed to estimate the potential costs associated with engaging legal counsel for the administration of an estate through the court system. These tools typically rely on factors such as the size of the estate, the complexity of the legal proceedings, and the attorney’s fee structure (hourly, flat fee, or percentage of the estate). For example, an estate valued at $500,000 in a state with statutory percentage fees might generate an estimated attorney fee within a certain range based on those percentages.
The significance of these estimators lies in their ability to provide individuals with a preliminary understanding of potential expenses. This allows for better financial planning and informed decision-making regarding estate administration options. Historically, accessing reliable cost information for probate legal services was often challenging. These tools increase transparency and empower individuals to navigate the probate process more effectively.
