Connecticut is the Most Expensive Place to Die: Report

A new study has Connecticut No. 1 in a category it probably wishes it wasn’t at the top in.

According to a new study by probate officials, Connecticut is the most expensive place to die in the United States. Connecticut narrowly beats out New Jersey and Virginia for the No. 1 position.

The major reason is a new state law approved by the General Assembly and signed into law by Gov. Dannel P. Malloy that eliminated a $12,500 cap on probate court fees and doubled the fees on estates worth more than $2 million to 0.5 percent of the value, NBC Connecticut and ABC News report.

In the past, the maximum fee was $12,500 but that was eliminated beginning July 1 and is also retroactive to all deaths dating back to January 1.

The major reason for the change is Connecticut lawmakers cut all funding for probate courts totaling $32 million, and probate court filings have also increased from $150 to $225, ABC News reports via the AP.

Connecticut probate officials say if the law was in effect last year, two estates would have had to pay $1 million and 12 estates would have had to pay in excess of $100,000.

Some people have speculated this may be another reason why very wealthy residents look to leave Connecticut.

Read the full ABC News story here.

Read the full NBC Connecticut story here.

Photo credit: Ken Mayer via Flickr.com