Costs that are typically incurred during the process of Administering an Estate, including the typical Probate process.
Examples of these fees include:
Executor fees: the person responsible for managing the deceased's Estate, known as the Executor, may be paid for their service. It may be a flat fee, an hourly rate, or based on a percentage of the value of the estate
Attorney's fees: typically the Executor will work with an attorney to handle legal proceedings associated with probate. The fees for these services may be paid out of the estate's assets
Court fees: in many cases, the probate court overseeing the estate will charge fees for filing documents and other administrative tasks
Accounting and appraisal fees: if the estate includes complex Assets, such as a business or real estate, it may be necessary to hire an accountant or Appraiser to value these assets for tax and distribution purposes
Misc expenses: other expenses may be necessary, such as fees for moving and storing personal property, or costs associated with resolving any disputes that arise during the process
These fees are generally paid out of the Estate account, not a personal bank account, and are paid before the remaining assets are distributed to Beneficiaries or Heirs.