Connecticut is the Most Expensive State to Die- for the Wealthy, That Is
In the most morbid news of the month, Connecticut has just been named the most expensive state to die thanks to the approval of a new budget that eliminates a cap on probate fees and doubles estate fees.
That means that whereas probate fees could in the past not run more than $12,500, meaning that some estates could face probate fees between $100,000- $1,000,000 for the wealthier residents of the state.
“Judge Paul Knierim, Connecticut’s probate court administrator, said if the new fees were applied last year, two estates worth more than $200 million apiece would have paid more than $1 million in probate costs and about a dozen worth over $20 million would have paid more than $100,000,” according to Business Insider.
The state’s residents are angered that funding was cut to the probate courts in general.
The angriest of residents are the wealthiest, because the increased costs primarily affect the most expensive estates over $2,000,000.
Critics of the move are saying that the state’s wealthy might be inclined to get packing as a result.
