Chipman Mazzucco Emerson Estate Planning and Elder Law

Effective July 1, 2015, Connecticut Probate Court fees have been increased.

As the chart below indicates, fees for a decedent’s estate with a value of $2,000,000 or less are unchanged. Fees for an estate with a value more than $2,000,000 are increased significantly without any cap. The fee that applies to the excess over $2,000,000 is 0.5% up from 0.025%.

Before the increase, the fee was capped at $12,500 (the fee that applied to an estate with a value of $4,754,000). If the estate was larger than $4,754,000, the fee would remain at $12,500. Accordingly, under the old fee schedule, the fee for an estate having a value of $50,000,000 would be $12,500. Under the new fee schedule, the fee for an estate having a value of $50,000,000 would be increased to $245,615.

In general, the value of the estate is the value determined for estate tax purposes with some adjustments for property that passes to a spouse (in that case only one-half is included).

For more information, see our video entitled Estate Settlement and Trust Administration in Connecticut: Estate Settlement in Connecticut Playlist.

Probate Court fees are discussed in Part 3 of the video: Estate Settlement in Connecticut Part 3.

Posted on August 1, 2015
by Richard S. Land
Member
Chipman Mazzucco

This entry was posted on August 1, 2015 at 1:05 pm and is filed under Estate Settlement, Estate Tax and Estate Planning Developments. You can subscribe via RSS 2.0 feed to this post's comments.

Tags: estate planning, estate settlement, living trusts, probate, revocable trusts