The court-supervised process of distributing property after the death of an estate owner (probate) is common in the state of Nebraska. Probate happens in a lot (but not all) cases of administering an estate. And while the process there is strikingly similar to other states, there still seems to be a lot of questions about it - especially when it comes to wondering about the average cost of probate in Nebraska. Cost will vary, and generally depends on a number of things such as:
Complexity and size of an estate
If heirs contest any part of the Will
Type of Estate Plans
Use of a probate attorney (or not)
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Common Probate Fees in Nebraska
While the cost of probate can range, some fees are pretty common in almost all probate proceedings. During probate, you may need to pay for:
Miscellaneous court and filing fees
A Probate Bond (if required)
Any attorney fees
Personal Representative compensation - Nebraska is a reasonable compensation state
Various professional fees
Common Questions About Probate in Nebraska
How Long Does Probate Take in Nebraska?
A probate proceeding in Nebraska can take around six to nine months to fully complete. If an estate is extremely complex or large, the process can take years.
What is UPC in Nebraska?
The Uniform Probate Code (UPC) has been adopted by Nebraska and 17 other states. UPC tried to establish a national standard for all states to follow in regards to probate. Under the code, there are three types of probate proceedings:
How Much Does a Probate Lawyer Cost in Nebraska?
Because probate attorney fees in Nebraska can vary, it isn’t easy to just throw out a dollar figure to estimate what they’ll charge. While many probate attorneys bill by the hour, others charge a flat fee. Most fees will be less than two to three percent of the estate value.
How to Avoid Probate in Nebraska?
Avoiding probate is a common desire, and there’s good reasoning behind why. It can be time-consuming, expensive and stressful. You may be able to avoid probate in Nebraska if you:
Establish a Living Trust
Title assets in Joint Tenancy
Title property as Community Property With Right of Survivorship or Tenancy by the Entirety
Open accounts and hold deeds that are TOD or POD (Transfer on Death; Payable on Death)
In Nebraska, estates that are valued under the “small estate” threshold can generally avoid probate (or go through a simplified version).
What is Considered a Small Estate in Nebraska?
If an estate is worth less than $50,000, after a 30-day waiting period, an Affidavit may be used. Alternatively, a summary probate procedure can be an option if the estate value doesn’t exceed the homestead allowance.
Who Pays Probate Fees in Nebraska?
Probate costs and probate lawyer fees in Nebraska are paid for out of the estate.