Dealing with the death of a loved one is extremely hard and to make matters worse, when it comes to probate it can get even harder. For the loved ones left behind, sometimes the cost of probate can become overwhelming and in many cases, unaffordable. Even when an inheritance is expected, it could be many months, even years before the inheritance is actually received. What is even more unfortunate is that to get that inheritance, you often have to pay numerous fees upfront. The light at the end of this tunnel is that now you have the opportunity to get help with an inheritance loan.
Fees Involved In Probate
It may surprise you that there are numerous fees involved in probate. If this is your first experience with probate court, you may find yourself overwhelmed with costs associated with the procedures. Here is a list of some of the most common probate fees:
– Attorney Fees – Attorneys are necessary to ensure that everything is followed by law and distributed correctly as well.
– Probate Filing Fees – These are required by the courts to begin the proceedings
– Court Costs – You have to pay for the use of the courtroom, the judge, and other aspects that are included with court costs.
– Legal Notice Publishing – You are typically required to publish a legal notice, to notify creditors and other people with an interest in the estate.
– Executor’s Bond – Sometimes, the will or the court requires the executor to post bond before handling the estate.
If the estate includes property, there are additional costs during the probate period, for example:
– Property insurance
– Mortgage payments
– Real estate taxes
– Maintenance and repairs
– Fix-up costs for sale of the property
– Utility costs
Paying Probate Fees
What is most unfortunate for the family members or heirs is that many of these costs and fees must be paid for in probate cash advances or at the time of service. Your attorney may or may not allow you to wait until you have collected your inheritance, but for the most part, you are responsible for most of these fees out of pocket. Therefore, you may need cash immediately to cover the probate and other costs.