Detailed Answer
When you open probate in Illinois, you face several cost categories. The total expense depends on the estate’s size, complexity, asset types, and whether anyone contests the proceedings.
1. Court Filing and Miscellaneous Fees
Every case begins with a filing fee paid to the circuit court. Costs vary by county but typically range from $150 to $300. You may also pay fees for certified copies of orders, registered mail, and record searches.
2. Executor (Personal Representative) Fees
By statute, an executor may claim reasonable compensation. Illinois caps this fee at a percentage of the gross estate: 5% of the first $100,000, 3¾% of the next $100,000, 2½% of the next $800,000, and 2% of amounts over $1 million. See 755 ILCS 5/27-3.
3. Attorney Fees
Illinois allows attorneys to charge on the same sliding scale as executors (see 755 ILCS 5/27-1). In a simple uncontested case, fees often total 3%–5% of the estate’s value. Complex litigation, tax planning, or disputes can increase hourly billing substantially.
4. Appraisal and Valuation Costs
If the estate holds real estate, art, jewelry, or business interests, you must obtain professional appraisals. Appraisers typically charge between $300 and $1,000 per asset, depending on complexity.
5. Bond Premiums
The court may require the executor to post a surety bond. Premiums vary by estate size and risk, often 0.5%–1% of the bond amount annually. You can petition the court to waive the bond if all heirs consent.
6. Publication and Notice Expenses
Probate law requires notice to creditors in a local newspaper. Publication costs depend on length and paper rates, typically $100–$300.
7. Accounting, Tax Preparation, and Estate Taxes
Preparing the decedent’s final income tax return and any estate tax filings (federal or Illinois estate tax) may require a certified public accountant. Expect fees of $500–$2,500, depending on complexity.
8. Contested Proceedings
If a beneficiary contests the will or accounting, litigation can drive costs skyward. You may incur additional court fees and expert witness fees. Attorney hourly rates in Illinois range from $200 to $500 per hour.
Helpful Hints
- Organize asset documentation early to speed up valuations.
- Get multiple bids from appraisers and attorneys to control costs.
- Consider waiving the executor bond if beneficiaries agree in writing.
- Communicate openly with heirs to minimize disputes.
- Review Illinois probate court fee schedules on your county’s website.
Disclaimer: This article provides general information about Illinois law and does not constitute legal advice. Consult a qualified attorney for advice on your specific situation.