You never know when you may end up in court. Whether it’s for business, probate, or for personal reasons, it doesn’t change the fact that it can be expensive.
Attorneys need the help of an experienced Accountant to provide evidence and facts. If the case is in litigation, the court accounting can also help prove whether or not the trustee was stealing from a trust. The work of the Accountant is important because it will help the truth become evident and ensure that deadlines are met.
To help you better prepare for court, we wanted to share how much you should expect to pay if you find yourself in need of a court accounting.
How Much Does a Court Accounting Cost?
Court accounting can cost anywhere from $1,000 to $25,000 depending on how complex the case is and how many assets the person has. If a person has two small bank accounts with very little deposits or expenses, it is a simple accounting, and it will be considerably less. On the other hand, if there is a case where someone had rentals, classic cars, cash accounts, brokerage accounts, and beneficiaries taking money out of the account before the trustee got a hold of the account, then the case is much more complicated. This type of case will take more time and effort to complete.
Another factor that should be taken into consideration when determining costs is who you decide to hire to help you with your court accounting. If it is a probate case, the attorney will be getting statutory fees in California which are based on percentages of total assets and on a stated formula set by Probate Law. In these cases, the Attorney may decide to do the accountings within their office. In other cases, the Accountant may charge an hourly rate for doing the work.
As an experienced Court Accountant doing this work, it is important to be detail-oriented and transparent to ensure that both the client and the attorneys have all the information they need to make the best decisions. In this role, it is the Accountant’s duty to use descriptions that show where all of the money and assets were allocated to ensure everyone is on the same page and that there are no questions regarding what took place.
Have More Questions Regarding a Court Accounting?
Marcia L. Campbell, CPA specializes in court accountings and is committed to helping each client plan for the personal and financial decisions that need to be made for the future. Marcia’s team has a genuine interest in your well-being and a well-established list of services to help guide you through this process.
If you need help, please contact us by filling out our Contact Form or by giving our office a call at +1(951)686-3608.