How Much Does a Probate Referee Charge? Part 2 of Lawyer’s Trust and Probate Journal

How Much Does a Probate Referee Charge?

 

As we discussed in the last article a Probate Referee is an impartial third party professional who is randomly assigned to a probate case by a Probate judge.  It is the Probate Referee’s job to equitably assess real and personal property for the probate.  Probate Referee’s fees are set by law and amount to .1 of 1% of the estate’s estimated value. So for every $100,000 worth of property, the referee receives $100. They are paid before the estate closes, generally 30-60 days after the inventory report is filed with the judge.

 

While the inventory report they file with the court may seem very limited, it is because the courts are only interested in the final numbers and are not interested in being consumed with more paperwork. Backup paperwork and documentation that supports the Probate Referee’s findings are required by law to be held at the referee’s office for a minimum of three years in the event of any dispute.

 

The ability of a probate referee to remain neutral is their biggest asset, so there are absolutely no solicitations from them for business, nor are attorneys or real estate brokers permitted to solicit them. For a probate referee, they answer only to the Internal Revenue Service and it is their reputation as an impartial party that ensures their job security.

 

Check back for our next segment when we profile a 22 year veteran of the Probate Referee business, Joseph Bua Sr.

 

Probate Referee Realities, Part 1 of Lawyer’s Trust and Probate Journal

Probate Referee Realities 

Let’s face it, when a loved one dies it can be an emotionally trying time.  Not only are there a lifetime of emotions to process, there are a lifetime’s worth of possessions to divest, which can be equally if not more emotional. The probate referee is just that, the referee between the two sides of the probate process where property is being distributed between heirs. Because they are appointed to their position by the state controller after undergoing rigorous testing and interviews and because their offices are audited every four years, they have to maintain the highest standards in their work.

 

A probate referee is required to provide a third-party, unbiased opinion on everything of value in an estate, and is randomly assigned to cases by a probate judge. This impartial system of placing a referee with an estate is designed to eliminate any conflict of interest between heirs, attorneys, real estate brokers, or the IRS. It is their sole responsibility to sort through all the information available to determine what is fair for the family involved and to prevent them from being taken advantage of by people who may be attempting to profit from their misfortune.

 

For more information about Probate Referees, who they are and what they charge stay tuned as we gain insights to Probate Referees in the coming blogs.

Lawyer’s Trust and Probate Journal, The Beginning

By Derrick Ruiz

Welcome to Lawyers Trust and Probate Journal.com with Derrick Ruiz. This is the first of many articles aimed at providing the latest information available where trust and probate real estate sales are of concern. Here you will find market trends, issues and tips, as well as in-depth interviews with other professionals in the estate planning and probate community.

To begin, I am a trust and probate broker with Keller Williams Realty and have been in the business for 23 years. My entire adult life has been spent in Southern California which makes me an expert on the area and a valuable asset to my clients. I am also an expert in trust and probate sales, with ten years of experience in this particular field, among others, such as lending and apartment investments. My goal in this industry is to be an agent for life, someone who can answer all of your questions, whenever you have them, and be a phone call away for you and all of my clients.

As a trust and probate real property expert, I am thoroughly educated on the unique issues present under these circumstances, from organizing repairs for out-of-state executors and trustees, to providing important real-estate documents and broker’s price opinions for attorneys and their clients. It is my first-hand knowledge with these issues, from beginning to end, that has compelled me to share my experiences with anyone involved in this complicated, and often, emotional process.

I intend to provide the most updated information available, along with my personal experiences along the way, and look forward to providing you with the highest level of trust and commitment when it comes to your needs. Your comments and questions are encouraged and I hope that my expertise can be of service.

For more information head to www.trustandprobatehelp.com

Hello world!

Welcome to WordPress.com. This is your first post. Edit or delete it and start blogging!