California Has Different Probate Rules Depending On The Value Of The Estate
In the Golden State, probate can be an expensive affair. If the total value of the probate estate is small enough, probate won’t at all be necessary. Inheritors can claim the assets through a streamlined probate process, which will start off with their filing of Probate Court Forms. The value of the probate estate plays a major role in determining probate fees. If the assets are held in a revocable Living Trust, probate can be avoided. California law frames the probate rules and guidelines, keeping in mind the size of your estate. In similar manner, the probate fees are calculated. The probate fees are four percent of the first $100,000 of the estate, three percent of the next $100,000, two percent of the next $800,000, one percent of the next $9,000,000 and one and half percent of the next $15,000,000. For an estate larger than $25,000,000, the court will order a fee amount that is higher than the stated estate value. Probate procedures and rules in California In case of a probate