The Estate Representative’s Share
The estate’s representative is often entitled to take a share of the estate’s total value. California has a list of statutory fees for estate representatives, which varies based on that value.
For example:
- If an estate is worth $100,000, the personal representative may take 4% of the first $100,000, plus a statutory fee of $4,000
- If an estate is worth $200,000, a personal representative may take 3% of the next $100,000, plus a statutory fee of $7,000
California has more fee calculations for almost every estate with a value up to $20 million. If the estate is worth more than $25 million, the court will determine the personal representative’s fees.
An Attorney’s Role in Probate Administration
If you do not already have a probate attorney, it’s important to contact one if you are trying to settle a California estate. A probate attorney can help personal representatives set their fees and recoup any losses or expenses made through probate administration. Beyond that, a probate lawyer will also know how to close out an estate and can even do the hard work of inventorying assets, filing court paperwork, and settling the estate’s debts.
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