Probate is a scary word. You read about people’s advice to “avoid probate!” You hear that the government will take all the money in probate. (Not true, by the way). Probate is mysterious, and it will probably involve hiring a probate lawyer. But how much does a probate lawyer cost?
How much a probate lawyer charges will depend on the size of the estate.
Small estates with no real property may only cost a few hundred dollars. Larger estates with modestly priced real property might cost a couple of thousand. For estates with a value of over $200,000, a probate lawyer will cost about 2% of the value of the estate.
Small Estates With No Real Estate
In Wyoming, a small estate is one where the property has a value of less than $200,000. If there is no real property (land, house, etc.), then probate involves filing an Affidavit for Distribution with the County Clerk. This affidavit can be a simple two page document, or it can be a complex, multi page document. The complexity depends on the number of heirs, the number and nature of the assets, and how they are to be distributed.
Probate lawyers’ fees for small estates vary. We charge from $450 to $995*, depending on the complexity.
Small Estates With Real Estate
If the estate is valued at less than $200,000, but includes some real estate, then a probate lawyer will charge considerably more. This is because probating any real property requires the filing of a court proceeding. It will involve filing a petition for a decree of distribution, setting a court hearing, advertising the hearing in the newspaper, and preparing the Decree of Distribution.
Sometimes, though rarely, someone will object to the proposed distribution. In those cases, there will be court hearings, and a probate lawyer will cost even more.
We charge $1,500* in lawyer fees for this service, if there is no hearing. There are additional, non lawyer costs, such as filing fees, publication costs, and recording fees.
Formal Probate
When an estate is worth more than $200,000 in Wyoming, then it will have to go through a formal probate process.
The cost of a probate lawyer in a routine probate is set by Wyoming State Statute. It is a minimum of $4,450, and ends up being about 2% of the value of the estate.
If there are will contests, or lots of creditors, property needs to be sold during the probate, then the probate is not routine. In those cases, the court may allow additional attorney fees for extraordinary services.
Conclusion
How much a probate lawyer costs will depend on the size and the complexity of the case. It could be as little as a few hundred dollars for an Affidavit for Distribution. Or it could be tens of thousands of dollars for a large estate.
By Steve Harton
*Attorney fees are difficult to predict. The fees listed in this article are for illustration only. To find out the fee we would charge for your specific case, please talk to our attorney.