Probate Costs of an Estate

[TenPercent]

Hi. I was wondering what the probate costs in Missouri would be
of an estate worth roughly $360,000. The estate consits of approximately
$260,000 in real estate--all paid, no mortgage--and about $100,000 in
cash, annuities, and mutual funds.

In Missouri, would a living revocable trust in connection with a
will be recommended to avoid Missouri probate costs, which I assume
would include court costs, executor costs, attorneys fees, etc.

Thanks so much for any help.

Very best regards.

 

[goldengate]

Tough to say how much it'll cost. The bulk of the costs will be to the
attorney and they get their fee upfront. You have many factors
involved like how many creditors, how many beneficiaries, how many
accounts that need to be processed. All this is tough to say until the
process begins.

 

[BMS]

If the trust is set up properly, its purpose is to avoid probate and the
cost and time involved. If not sure, seek out a lawyer whose main line of
business is estate planning.

Cost wise, using Massachusetts, good planning is about 10 percent of what
the probate bill would be with no planning.