Pollak & Cusack
Attorneys At Law

Probate

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WHAT IS PROBATE?
 

If you die with only a Will, or no Will (intestate), your estate will probably go through Probate.  Probate is a court supervised process to transfer property to a deceased person’s heirs.  Probate generally takes more than a year to complete and is expensive. Probate fees are set by statute and are based on the gross value of the estate (see chart).  For example, if you own a home with a $700,000 market value, the Probate fees for that asset are $34,000 regardless of the amount of your equity.  Certain assets such as your life insurance, IRA, 401k, jointly owned assets with right of survivor-ship or pay on death accounts may avoid Probate if the beneficiary on the account is properly designated.

 

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Complimentary Consultations
                 & House Calls


Estate Planning, Living Trusts,
Trust Administration & Probate

7250 Redwood Blvd., Ste. 355
Novato, Ca 94945

Tel: (415) 898-5958
Fax: (415) 892-5446

rkpollak@trustus.net

michele@pollakandcusack.com

info@pollakandcusack.com


 

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