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What are Americans Paying In Probate? (Statistical Analysis)

Probate Costs

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Every year, hundreds of thousands of people that have lost loved ones go through probate. 

Probate is the court process of passing on the decedents assets to a rightful heir. 

Probate happens when there isn’t a will or trust established for the assets to pass directly to a beneficiary. When this sort of estate planning isn’t in place, the courts must decide how to distribute the assets.

There are guidelines for probate and a process for which it plays out in court.

But how many people actually go through probate and how much does it actually cost.

US Probate Statistics

How Many People Go Through Probate Every Year?​

It’s hard to tell exactly how many people go through probate filing every year. Court data is fragmented and includes mental health and guardianship data many times since it is dealt with by the same report. It is possible to get some statiscs though. For instance, There were 122,498 case filed for probate in Florida alone in 2017. In 2014 Ohio published a court trend showing they had 85,000 probate filings. Many states have two or even three times the amount of filings.  Based on this fragmented and preliminary data it seems safe to say there are over 3million cases that pass through probate every year.

How Much Is Spent In The US On Probate Each Year?

10000000
Americans Spend two billion dollars annually on probate.

Where Does The Money Go?

0
Over 50% of probate costs go to attorney's fees

Is The Amount Of Probate Declining?

0
According To LexusNexus, 55% Of Americans don't have a will

Probate Statistics Are Staggering

If you find yourself in probate like so many other americans, you don’t necessarily haveto wait the standard one to three years to receive your inheritance. If you are in probate and need your money now, we can help at Inheritance Advanced. Visit our application page and receive an advance on your estate within 24 hours. You can also read more about probate in our regularly updated blog or visit our state specific resources.

Legal Disclaimer: Please note that Inheritance Advanced is not a lender. Inheritance advance does not provide probate loans, inheritance loans, or estate loans, rather, an advance on a portion of proceeds signed over to Inheritance Advanced. Inheritance Advanced is also not a probate attorney and any information in this article should not be misconstrued as legal advice. We recommend that you seek the advice of an attorney, CPA, and tax attorney regarding any decisions pertaining to your probate.

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Our Inheritance Cash Advances help heirs receive a portion of their inheritance payout in just a few days. We then wait and are paid directly out of your share when the estate finally closes. We wait for probate so that you don’t have to. Click below and fill out our short form to receive an advance immediately.

Probate Costs

Get Your Inheritance Money Now!

Our Inheritance Cash Advances help heirs receive a portion of their inheritance payout in just a few days. We then wait and are paid directly out of your share when the estate finally closes. We wait for probate so that you don’t have to. Click below and fill out our short form to receive an advance immediately.

Probate Costs