How much does probate cost in Texas?
One of the first concerns that arises for many people thinking about probating a Will is the cost of the probate process. Texas law allows a streamlined process of probating Wills. This streamlined process is called independent administration. If independent administration is provided for in the Will, executors and administrators can carry out their duties largely independent of court supervision. This can significantly reduce the attorneys fees and some of the costs.
The types of costs
While there are several types of fees incurred throughout the probate process. These costs can generally be grouped into a few main categories.
- Court Filing Fees
- Cost for publishing notices
- Attorney and executor fees
- Accountants (larger estates)
- Appraisals and Business Valuations
Court filing fees in Texas
Here you can find a list of fees associated with filing in an example county. The fees range from $1 for copies to $335 for a combined application for administration and determination of heirship.
The fees will vary from county to county throughout the state of Texas. Below is a list of links to the fee schedules for several DFW Counties.
Costs for publishing notices
In most states, the executor of the will must publish the estate’s probate notice in a public newspaper or publication. Typically, the executor will publish the probate notice in a local community newspaper or magazine for about $200.
Attorney and executor fees
The fee may range from what is deemed a reasonable fixed fee up to a certain percentage of the estate’s value. The total attorneys fees may be as low as $3,000 or significantly higher–depending on the work involved, the complexity, etc.
Executors, or personal representatives, can ask for additional “extraordinary fees” for any services that are above and beyond those considered to be basic probate services.
In Texas dependent administration, your probate attorney will be involved in:
- Making court appearances
- Filing the bond
- Getting court approval to pay claims and sell assets
- Other necessary tasks as required
Additionally, your personal representative or executor will have to pay for and post a bond in an amount determined by the probate judge before they can be appointed. This is generally paid for by the estate.
Accounting fees for probate in Texas will vary based on the value of the estate and the assets that are that are owned.
If there are federal taxes to be paid, then accounting fees will also need to include the preparation and filing of tax returns. If the attorney prepares and files the returns, those fees would also be under the attorney fees.
Appraisal and business valuation fees
Probate will require date-of-death values of personal property, real estate, and business interests.
Appraisal fees for personal property will vary. Typically the cost can be from a few hundred to a few thousand dollars, while business valuation fees can run several thousand dollars.
Miscellaneous fees could include but are not limited to shipping personal property, storing personal property, and postage. These fees could also include a federal estate tax of 40% on estates valued over 5.34 million.
DFW Probate Attorneys
Don’t play the guessing game with probate costs and processes. Schedule a FREE CALL experienced probate attorneys online 24/7. We frequently represent clients with sensitive probate matters in the DFW Counties. We know the probate courts, the Clerk offices, and the probate rules.
Alternatively, you can always give us a call us at (469) 895-4333.