Top Probate Attorney Sam Price Reveals True Cost Of Only Having A Will In Probate Court – Redlands, CA

Leading Probate And Estate Planning attorney R. Sam Price founder of Price Law Firm, APC in Redlands, CA outlines the true cost of probate. For more information please visit https://pricelawfirm.com

Redlands, CA, United States – March 30, 2021 /MM-REB/ —

Probate can be a time-consuming and costly affair if you don’t take the necessary steps, advises California-based lawyer Sam Price.

For more information please visit https://pricelawfirm.com

In a recent interview, Mr Price of the Redlands-based Price Law Firm, APC, gave an account of how to work through the probate process and understand the actual costs involved.

When someone passes away and their belongings need to be distributed, the probate process begins. If they leave a will, it names an executor to oversee the distribution of assets to named beneficiaries.

An executor will be the person who starts the probate process or even hire an attorney to aid them through the legal journey. The executor will also be tasked with handling all financial responsibilities, such as settling debts and expenses.

Suppose you die without making a will, otherwise called intestate. In that case, you may well find a probate court will settle how the assets are distributed and even appoint a personal representative to handle the probate proceedings.

Fees for probate attorneys and personal representatives are set by law, and they can be costly. These fees could increase substantially if family members decide to contest the will and how these personal assets should be distributed.

By way of example, if your entire estate is worth more than $600,000, then your family could be looking at around $30,000 in probate fees, including court filing fees, before the estate can be settled.

Mr Price said: “That’s why effective estate planning is highly advisable because the costs involved are likely to be much less than a family stuck in probate and potentially fighting it out in court.

“It has been estimated that probate can be as much as 20 times more expensive than having a well-thought-out estate plan with a will.”

A will also gives a guarantee that your relatives will know what to do with your assets. He explained: “With a family having a clearer idea of how you want your estate to be distributed, it will enable them to complete the process quickly.

“Otherwise, the costs of probate can go well beyond finances and time. It can also be costly in terms of family relations: rather than allowing them to focus on grieving they are fighting over who should get what.”

Source: http://RecommendedExperts.biz

Contact Info:
Name: Sam Price
Email: Send Email
Organization: Price Law Firm, APC
Address: 300 E State Street, #620 Redlands, CA 92373
Phone: 909-328-7000
Website: https://pricelawfirm.com

Source: MM-REB

Release ID: 89002006