What Is Probate and How Much Does It Cost?

Probate is the court-supervised process of validating a will and distributing a deceased person's assets. It is public, time-consuming, and expensive. Probate costs typically run 3–8% of the gross estate value — on a $500,000 estate, that's $15,000–$40,000 in fees. The process takes 6 months to 2+ years depending on the state and complexity. Probate fees include: executor fees (2–4% of estate value), attorney fees (1–3%), court filing fees ($300–$1,000+), and appraiser fees for real property. Some states — California, Florida, and New York — have statutory fee schedules that can make probate particularly expensive. Assets that avoid probate automatically include: assets held in a living trust, jointly owned property with right of survivorship, accounts with named beneficiaries (IRAs, 401(k)s, life insurance), and payable-on-death (POD) or transfer-on-death (TOD) accounts. The primary way to avoid probate is to create a revocable living trust and transfer your assets into it during your lifetime. This is why estate planning attorneys strongly recommend trusts over simple wills for estates with significant real property.