Probate costs are based on the gross assets of the decedent. (Gross assets = value of a house, mortgage is irrelevant). Probate fees are set by state law in California:

• 4% of the first $100,000

• 3% of the next $100,000

• 2% of the next $800,000

• 1% of the next $9,000,000

• .5% of the next $15,000,000

These fees are for the executor and the attorney that they hire.

For an estate with gross assets of $500,000, the fees are $13,000 for the executor and $13,000 for the attorney, for a total of $26,000.

For an estate with $1,000,000 in gross assets, the fee is $23,000 for the executor and $23,000 for the attorney, for a total of $46,000.

For an estate with $5,000,000 in gross assets, the fee is $61,000 for the executor and $61,000 for the attorney, for a total of $122,000.

There are several ways you (or your estate) can avoid paying these kinds of fees - all of them include planning in advance! Contact me for a complimentary consultation to discuss your options.