1) ESTIMATION OF GROSS VALUE OF ESTATE

Value of Home

Value of any other Real Property

Business Interests (except traded stock)

Automobiles

Recreational Vehicles (boats, trailers, etc.)

Treasury Bills, Certificates of Deposit Stocks & Bonds, Mutual Funds

Savings and Checking

Livestock and Related Equipment

Expected Inheritance, Notes Due, Life Insurance*

Annuities* IRAs/KEOUGHs/Pensions*

*Not counted for Probate, but counted for Federal Estate Tax

2) ESTIMATION OF COST OF PROBATE

Probate fees are determined by Probate Codes 10800 and 10819.

In 2025, most estates will incur costs of an average of 5 -8 % of the gross value of the estate at the time of death, meaning any debts are NOT subtracted from the gross value when determining the fees for probate.

The following calculation determines the fees extracted from the estate.

First $ 100,000 8%

Next $100,000 6%

Next $800,000 4%

Next $900,000 2%

Next $15,000,000 1%

Probate code specifies that for any estate with a gross value of more than $25,000,000, "the court will determine a reasonable amount".

Let's say, as an example, the total value of an estate is $600,000.

The First $ 100,000.00 X 8% = $ 8,000.00

The Next $100,000.00 X 6% = $ 6,000.00

The Remaining $400,000.00 X 4% = $ 16,000.00

Add the figures together to find the

Total Probate Cost = $ 30,000.00

Plus $1,000.00 - $2,000.00 in initial and closing court costs and filing fees.

3) ESTIMATION OF COST OF FEDERAL ESTATE TAX

In 2025, the Federal Estate Tax (PET) rate is 40%, with the exemption level set at 13.99 million USD. If the gross value your estate is less than 13.99 million USD, there will be no Federal Estate Tax.

Let's say, as an example, the total value of an estate is 30 million USD.

We subtract the exemption level from the estate value, and then the remaining assets are taxed at 40%.

30 - 13.99 = 16.01                     16.01 X 40% = 6.40

The Federal Estate Tax to be paid is 6.40 million USD.

Married couples can declare a special kind of Trust that can avoid FET on up to 27.98 million USD (13.99 million USD x 2 people).