What Does Probate Cost?
A lot of people tell me either they don’t want the cost of a trust or they don’t think they need a trust. They would prefer a will.
Well if you own a home, you should have a trust. Even if your home is worth $600,000, the average in the County, and that is your only asset, you must pay attorney fees in probate that are extraordinary. Let me show you the fee calculation that must be paid by statute:
| On the first $100,000 home value you pay 4% to the lawyer | $4,000.00 |
| On the second $100,000 home value, you pay the lawyer 3% | 3,000.00 |
| On the balance of the value of $400,000 you pay 2% | 8,000.00 |
| Total attorney fees paid on the house alone, | $15,000.00 |
This outrageous fee has to be paid even if you want to give the home to a relative in your will. Worse, you should read the statute carefully below, the fee has to be paid, even if you owe a mortgage of $550,000 on your house.
Even the most expensive trust is nowhere one fourth this cost, and this fee does not include the costs of administration. Everyone that owns a home should have a trust, and the home is easily put into the trust. With a trust, properly funded, there is no probate and you don’t have to pay silly attorney fees for nothing.
So read on and I will prove to you what most probate attorneys do not want you to know. If you already believe me, call us, and we will advise you for free at 1 888 752-7474 whether this should be a concern to you or Contact Us online.