How Much Does an Estate Have to Be Worth to Go to Probate in Washington? A Guide To Required Costs

Real estate planning can get quite puzzling. There’s a cesspool of jargon that you need to be familiar with, as well as laws that require some understanding. One of the real estate terms you might encounter is probate.

In the unfortunate event that someone with a real estate property dies, you will be required to know the cost of probate. The laws on probate differ in each state. If you live in Washington, you must navigate the state regulations regarding the probate process.

Despite this challenging time, it’s important to stay on top of this matter and abide by Washington laws. If you’re wondering, “How much does an estate have to be worth to go to probate in Washington?” This guide has the right answer to your question.

Keep reading to learn how probate in Washington State works!

What Is Probate and Why Is It Important?

Simply put, probate is a court-supervised legal process allowing the distribution of real estate after someone’s death. Typically, the spouse or family member of the deceased is appointed as the personal representative who will handle all the real estate affairs.

In general, the chosen representative is required to gather and distribute all the remaining assets of the deceased person, pay off debts and taxes, and transfer the inheritance to rightful heirs.

The appointed executor can only proceed once the court judge reviews and validates the deceased person’s will. In most cases, the decedent died testate, meaning they already finalized the documentation to begin the probate process.

The document should include instructions on how to distribute the decedent’s assets, particularly their real estate properties. However, there are also cases when the deceased does not leave a will.

In the event that a person dies without completing a last will and testament, the individual is considered to have died intestate. This means that Washington’s probate court is responsible for appointing an administrator or executor.

Understanding the probate process is important to know how to legally handle the real estate property left by a deceased individual. This helps avoid costly delays and possible disputes in the probate estate settlement processes involved.

Is Probate Required In Washington?

Washington law does not require a probate proceeding after someone’s death. Whether the decedent died with or without a valid will, probate in Washington is discretionary, and not everyone who lost a loved one file for one.

Since Washington law doesn’t obligate this process, the remaining family member commonly files for probate due to the following reasons:

• The real property is titled in the decedent’s own name
• The decedent’s personal property (usually a cash or securities account) is titled in their own name, with a value exceeding $100,000

However, Washington does require the will of the deceased Washington resident to be filed within 40 days after their death. This should be done to discover all the assets that the deceased left after passing, manage them, and categorize them as:

• Probate Asset: This means that the assets to be transferred to the decedent’s heirs and beneficiaries call for a probate proceeding. The heirs and beneficiaries are either stated in the will or chosen according to the laws of intestate succession.
• Non-probate Asset: This means that the transfer of assets can be done without the probate process. Non-probate assets can be those held in joint tenancy form, subject to a community property agreement, having death beneficiary designations, or held by the decedent’s living trust.

Moreover, regardless of whether or not a probate is filed in Washington, the personal representative of the deceased must also pay the decedent’s debts. However, some instances necessitate a probate proceeding.

1. Accessing the Decedent’s Safe Deposit Box

Many descendants leave their will in a safe deposit box. To access this, you must file a probate in your county to obtain a certified copy of your Letters. This document confirms that the executor is the person indicated in the will.

2. Distributing and Changing Title to Decedent’s Probate Assets

A probate is necessary if the decedent had no probate assets upon their death. This is mandatory if the net value of the property is over $100,000 or if the probate asset is any real estate you choose not to or cannot administer through a “Lack of Probate” affidavit.

3. Paying Decedent’s Debts

Although it was mentioned that probate is not required when paying the decedent’s existing debts, it is still advisable to avoid debtor-creditor issues that may arise and also gain the benefits of Washington’s Creditor’s Claim procedure.

The main benefits of the Creditor’s Claim procedure include the following:

• To reduce the time to present their claim or be banned (from two years after the date of the decedent’s death to four months)

• To permit a creditor with a rejected claim to file a lawsuit within one month of the rejection
• To earn the benefits of the court for the resolution of any disputed claim

Additionally, heirs and beneficiaries who follow this procedure can take the property they are entitled to have after the 4-month claim period expires.

4. Prosecuting or Defending a Lawsuit in Decedent’s Name

If the deceased person has an ongoing lawsuit before their death, the personal representative is responsible for maintaining the interest of the deceased party in court. In this case, Letters are required, which can only be obtained through a probate.

How Much Does an Estate Have to Be Worth to Go to Probate in Washington?

Generally, estates that fall below a certain value don’t need probate. In Washington, an estate has to be $100,000 or higher to go to probate. Moreover, only certain types of assets are subject to this process.

Here are some examples of probate assets:

• The decedent’s personal property was inherited as their own upon the death of their parents
• The decedent’s bank and brokerage accounts
• The decedent’s interest in a vehicle, a boat, or an airplane is held as a tenant-in-common with other joint owners.
• A life insurance policy owned by the decedent for their use or their estate
• The decedent’s Individual Retirement Accounts (IRAs) or a Keogh Plan for their benefit or their estate.

If a non-probate asset is mistakenly included in the will, the beneficiary might not inherit their assets. In worst cases, surviving family members may contest the will. 

Those held in joint tenancy or those with beneficiary designations, such as personal vehicles, life insurance, payable-on-death (POD) bank accounts, or retirement accounts, are considered non-probate.

In the case of small estates or those amounting to less than $100,000, probate proceedings can be skipped altogether. Small assets may include:

• Bank accounts amounting to $2,500
• Credit union accounts with a value of $1,000
• Any remaining unpaid wages up to $2,500
• Unpaid social security benefits with a total value of $1,000
• A car or a boat

Beneficiaries may only be required to submit an affidavit stating the estate value of the small estate and the right to claim it.

The Probate Process in Washington: Step-by-Step

The legal process of probate consists of several steps. The probate process in Washington usually takes around 6 months to a year given that there are no disputes.

1. Preparing For Probate Court

The first step is to prepare for probate court. Before a personal representative can be chosen to administer the decedent’s estate, you must carry out some preliminary steps.

Although a death certificate is not required by Washington, some judges may still wish to review one. Obtaining this beforehand is advised so you can have it on hand during the hearing.

A probate can only be filed in a superior court in any Washington county. You will be required to file a cover sheet, which will vary among counties. Make sure to select, complete, and sign the right form.

If you already possess the decedent’s will, you must promptly file it to court or deliver it to the decedent’s designated personal representative. Then, a petition for Letters must be filed.

2. Verifying The Will’s Authenticity

Once the preliminary steps are done, the probate procedure will be initiated. It starts by verifying the authenticity of the will. A valid will in Washington must fulfill these requirements:

• The testator (the person making the will) must have put the will in writing.
• The testator or a person appointed by the testator must sign the will in their presence.
• Two qualified witnesses must sign the will in the testator’s presence.

Note: The witnesses must be competent enough to attest that the testator was of sound mind and not forced to sign the will. They may need to testify in probate court if there are clarifications or disputes about the will’s validity.

3. Designating An Executor or Personal Representative

If the will doesn’t indicate an executor or personal representative, the court is responsible for nominating one. Often, the spouse or the adult child is appointed. 

However, they are free to decline this role, and the court will have to designate another representative. If they accept, the executor will file a notarized oath before being granted their Letters.

Being an executor carries a lot of responsibilities, so the court offers compensation to those appointed.

4. Identifying The Deceased Person’s Assets

After the executor is determined, they must identify and make an inventory of all the deceased individual’s assets, including money, bank accounts, real estate, investments, businesses, and other personal possessions.

Creating a complete inventory allows them to appraise and protect the assets during probate. It also makes it easier to delegate inheritance after the process.

5. Paying The Decedent’s Debts and Taxes

Before the distribution of assets, the executor must settle all the deceased person’s debts, bills, and taxes by using their estate funds.

Some of the most common expenses include mortgage payments, loans, utility costs, credit card balances, medical expenses, and unpaid taxes such as income and estate taxes.

The executor must inform the creditor about the probate so they can file claims against the estate within a set period.

6. Distributing Remaining Assets To Rightful Heirs

Upon debt and tax payment, the executor can distribute the remaining assets of the deceased to the beneficiaries stated in the will, given that they were granted non-intervention powers.

The personal representative must abide by the exact terms of the will regarding the proper division of estates. If there is no will, state laws will dictate how the assets will be divided among the spouse, children, and relatives.

In case the beneficiary is a minor, the probate court must appoint a guardian ad litem.

7. Closing The Estate

After the estates have been properly distributed, the executor must formally close the probate process in court. In Washington, they are required to submit a final accounting report.

This document serves as a complete record of all the transactions and distributions incurred to ensure accuracy. When approved, the administrator will petition to close the estate.

The executor must then take final steps, including transferring the titles to new owners and closing bank accounts. Once finalized, the court can officially close the estate and discharge them from their duties.

Costs Associated with Probate in Washington

Probate proceedings can be a costly endeavor. In Washington, you need to prepare for filing and court fees as well as a variety of professional service costs. Here’s an approximate rundown of what to expect:

Fixed Costs

Fixed costs include fees that need to be paid upon filing the required documents to the court. These may vary depending on the county of publication.

• Superior Court filing fee: $200
• Publication of Probate Notice to Creditors: $100
• Other expenses (copying, mailing, etc.): $50

One may spend a total of $350 or more for these expenses.

Potential Costs

Potential costs involve commissions and professional fees from hired attorneys, accountants, or appraisers. Here’s what 

• Attorney’s fees: Legal help may be needed for complex probate assets. There are liabilities associated with being an executor, and hiring a probate attorney can help them avoid legal consequences. Attorney fees are usually structured as hourly, with a flat rate or a percentage of the estate.
• Accountant’s fees: Depending on the nature and complexity of the estate, the services of an accountant may be necessary. They can help you with completing the financial accounting record required after the distribution of assets.
• Appraiser’s fees: To maximize the value of the estate, many executors hire an appraiser to estimate the value of real estate, jewelry, and other belongings of the deceased.

Therefore, it’s a good idea to set aside funds from the estate to cover probate fees. Moreover, tax reporting and payment are also part of the probate process. In Washington, estate tax rates range from 10% to 20%, a lot higher than in most states. 

How to Avoid Probate in Washington State

Probate proceedings can be stressful, time-consuming, and expensive. Fortunately, there are ways to avoid it. Here’s how:

1. Establishing a Living Trust

A living trust is a legal arrangement done by the testator to protect and direct their assets to their chosen beneficiaries. By securing this document, probate can be avoided, ensuring that a greater portion of the assets can be given to their heirs.

2. Having Properties With Joint Tenancy

Joint tenancy is another estate planning tool for avoiding probate wherein two or more people own a real estate, each having equal rights to the property. 

Such is the case for a married couple with joint house ownership. When the partner dies, the title will be transferred to the surviving spouse through a legal relationship referred to as the “right of survivorship”.

3. Creating Assets that will transfer-on-death (TOD) or POD

Probate can also be bypassed if the testator has TOD or POD bank accounts. TODs are accounts used for bonds, stocks, and other investments, while PODs are checking and savings accounts with beneficiaries.

In the event that the account owner dies, the beneficiaries will automatically be the owners of the account. However, if the owner dies with existing debts and taxes, the creditors have the right to claim their account.

Tips For Effective Estate Planning

Effective estate planning is key to ensuring a smooth transfer of assets and minimizing probate-related challenges. 

1. Begin by creating a comprehensive will that outlines your wishes clearly, avoiding ambiguity that could lead to disputes. 

2. Consider establishing a living trust, which helps bypass probate and ensures faster distribution of assets to your beneficiaries. 

3. Regularly review and update your documents, especially after major life changes such as marriage, divorce, or the birth of a child. 

4. Designate beneficiaries for accounts like life insurance and retirement funds. 

Professional guidance from estate planning attorneys can provide invaluable advice to protect your estate. Additionally, working with financial advisors can help Washington residents create a comprehensive plan for asset distribution after death.

Key Takeaways: Navigating Probate and Estate Planning in Washington

Understanding probate and estate planning is crucial for effectively managing your assets and ensuring your loved ones are cared for after your passing. 

In Washington, probate may not always be necessary, especially for small estates under $100,000, but it’s important to be aware of the process and its costs. 

By distinguishing probate and non-probate assets and knowing when probate is required, you can avoid unnecessary complications. 

Planning ahead by establishing living trusts and beneficiary designations can streamline the process, helping reduce stress for your family and ensure your wishes are carried out efficiently. Proper estate planning not only safeguards your assets but also minimizes costs and legal hurdles during an emotional time.

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Read on to explore the steps involved in selling a home in Washington. These guidelines are relevant statewide, covering cities like Seattle, Tacoma, Spokane, Yakima, Vancouver, Bellingham, and their surrounding areas. For more personalized help, reach out to us at (253) 216-2497 to learn more!

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