How much does Probate cost?

04 Jun How much does Probate cost?

The typical cost of probate is between 3-10% of the gross value of the estate. It could cost much more and take even longer in some circumstances. Costs include appraisal fees, court costs, a surety bond, legal fees, accounting fees and a personal representative (executor) fees. In California there’s a scale of statutory attorney’s fees: http://www.leginfo.ca.gov/cgi-bin/displaycode?section=prob&group=10001-11000&file=10810-10814
Simply 4% of the first $100,000, 3% of the next $100,000, 2% of the next $800,000, 1% on the next $9,000,000 etc. So for an estate whose gross value is $1,000,000 the statutory attorney fees would be $23,000. Keep in mind that is on the gross not the net value of the estate. So if the same $1,000,000 estate had a mortgage of $700,000 it would still cost $23,000 even though the net estate is $300,000.