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How do I avoid the high costs of probate?

Probate is necessary when an individual dies without the proper estate planning documents and his/her assets exceeds $100,000. The cost for probating an estate is based on the estate’s gross asset value, which generally means including all that you own, but nothing that you owe. For example, if you own a home worth $800,00 with a $790,000 mortgage, the gross asset value is $800,000.

Please find below a helpful chart that shows the minimum probate fees as set by California law relative to the estate’s gross asset value. These fees to settle an estate in court do not include special fees for the sale of assets, tax preparation, and litigation.

 

Gross Asset Value

of Entire Estate

Minimum Probate Fees WITHOUT

Proper Estate Planning

Probate Fees

WITH

Proper Estate Planning

$400,000

$22,000*

$0

$500,000

$26,000*

$0

$750,000

$36,000*

$0

$1,000,000

$46,000*

$0

$2,000,000

$66,000*

$0

$3,000,000

 

$86,000*

 

$0

 

$4,000,000

 

$106,000*

 

$0

 

To learn more about wills and trusts, come attend one of our free wills and trusts estate planning workshops, click here to learn more.

Or, you can call our offices at (619) 737-9159 to schedule a free consultation.

 

 
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619-476-9436
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