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Administrative Fees
Last Will and Testament
While a Last Will and Testament is relatively inexpensive to create, most administrative fees occur after death during the probate process. These may include court filing fees, executor compensation, legal or accounting costs, and other expenses required to settle the estate. These fees are paid from the estate before any distributions are made and can significantly reduce the overall inheritance, making probate generally more costly and time-consuming than administering a trust.
Administrative Fees for a Last Will and Testament
Although creating a will is generally affordable, most administrative fees occur after death during the probate process. These may include:
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Court Filing Fees: Required to open the probate case, typically ranging from $200–$400 in Nevada.
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Executor or Personal Representative Fees: Compensation for the person managing the estate (often a percentage of the estate value or a reasonable hourly rate).
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Attorney or Document Preparation Fees: Legal or professional costs for preparing probate filings, notices, and distributions.
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Appraisal and Accounting Fees: To determine asset values, settle debts, and file final taxes.
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Publication and Notification Costs: Court-mandated notices to creditors and beneficiaries.
These costs are paid from the estate before distributions are made and can total 3–8% of the estate’s value, depending on complexity and delays.
💡 Summary:
While a will itself is inexpensive to create, its true administrative fees are realized later—during probate—making it generally more costly and time-consuming than a properly funded revocable living trust.