The role of a “probate referee” is to value certain assets in the estate.  In this regard, the referee will value the assets as of the date of the decedent’s death. Keep in mind, not all probate matters require a probate referee. For example, if an estate only consists of “cash,” there is no need for a probate referee to value anything. On the other hand, if there are stocks, bonds, real property, household furniture, jewelry and the like, the personal representative will need to have a probate referee value these types of assets.
In small estate proceedings, our office will select the probate referee to value the estate assets. In small estate proceedings the Inventory and Appraisal must be completed and attached to the Petition when the case is filed with the court.
On the other hand, in full probate, after the judge signs the Order for Probate, the court will appoint the probate referee. In this regard, the estate representative is responsible for preparing the initial inventory of the assets for the referee to appraise. The “Inventory and Appraisal” form with Attachments 1 and 2 will describe, in detail, the assets owned by the decedent. Once completed, the Inventory form is sent to the probate referee who will value the non-cash assets listed Attachment 2. The referee will enter the values on the inventory schedule and return it to the personal representative for filing with the probate court. Although rare, sometimes it is possible to have the court waive appraisal by a probate referee. Keep in mind, as mentioned above, even in large estates, if there are no assets listed on Attachment 2, a probate referee will not be required.
California law sets probate referee’s fees. The referee is entitled to receive compensation equal to 1/10th of 1 percent of the value of the property they appraise. There is a minimum fee of $75 for small estates and a maximum fee of $10,000 for extraordinarily large estates. In addition, the probate referee can also charge for incidental expenses such as photocopying and mileage.