How much does probate really cost anyway?
Everyone who ever steps into my office wants to avoid probate. Everyone has heard horror stories, but how much does it really cost? IT DEPENDS. I know, typical lawyer answer, but in this case it is entirely true. Probate fees are calculated using a statutory formula, lawyer speak for the law says exactly how much we get paid. Statutes says:his percentage is based upon a graduated scale as follows: 5% of the first $5,000; 4% of the next $20,000; 3% of the next $75,000; 2.75% of the next $300,000; 2.5% of the next $600,000; and 2% of everything over $1,000,000. I’ll do the math for you, $26,550 on an estate with a value of 1 million for attorneys fees ONLY. It gets paid in the end, but simple estate planning can avoid probate and cut that cost by over 90%. That is real value.