Gross Estate:

The Total of All assets. This includes but is not limited to:

• Real Estate
• Savings and Checking Accounts
• Business Interests
• IRA's and Keoughs
• Partnership Interests
• Personal Property
• Stocks, Bonds, CD's, etc.
• Jewelry
• Cash
• Clothing
• Life Insurance
• Furniture
• Etc., Etc., Etc.

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* If your home is valued at $200,000 but you owe $175,000 on a loan against the property; then your Net Equity is only $25,000. However, for the purpose of calculating the Gross value for Probate, then you would consider the house to be a $200,000 asset and would pay probate fees against that total.

Example: 10% 0f $200,000 = $20,000 in Probate Fees just for the house.