Fletcher Law Firm, P.A. - Little Rock, Arkansas

Estate Tax and Probate Calculator

The purpose of this form is to let you know how much estate taxes you will owe and what the probate costs will be if you do not have a properly designed estate plan in place at the time of your death. This calculation assumes that you are either a single person or that you are married and all assets pass from the first spouse to die to the surviving spouse. The estate taxes and probate costs are computed as of the death of the single person or as of the death of the surviving spouse, as the case may be.

Estate taxes must be paid in cash in full to the Internal Revenue Service and/or the state that the decedent lived in at death within nine (9) months after the decedent's date of death. Click here for more information about Estate Taxes and avoiding them. Even if the decedent's estate does not owe any estate taxes, the same estate may still be subject to the probate process and its inherent costs if a properly designed estate plan is not in place at the time of death. Click here for more information about Probate and avoiding it.

The probate calculation assumes that you are either a single person or that you are the surviving spouse and all assets passed without probate from the first spouse to die to the surviving spouse and the estate is the beneficiary of all assets. Costs such as real estate agent fees, accountant fees, engineering fees, court costs, and various other expenses will be in addition to the probate and administration costs identified below. However, since these amounts vary from client to client and from state to state, they will not be included in the probate calculation.

Step 1 - Enter the current fair market value of all assets you own.

1. Value of your home and other real estate
2. Value of investments (stocks, mutual funds, etc.)
3. Value of profit sharing, IRAs, pension and 401(k)
4. Value of all businesses you own
5. Value of bank accounts (checking, savings, etc.)
6. Value of cars, boats, motor homes, etc.
7. Value of personal property & collectibles
8. Amount of money that people owe you (notes receivable)
9. Amount of life insurance that will be paid at your death
10. Other assets not shown above
Show Total


*Step 2 - Enter the remaining balance of all debts you owe.*
Mortgages
Credit Cards
Other Debts
Show Total
*Step 3 - Enter the total amount of charitable contributions to be paid after your death.*
*Step 4 - Click here if you live inside Arkansas*

If you live in the State of Arkansas, by clicking on the continue bottom at the bottom of this screen, this calculator will automatically generate your Estate Taxes and Probate Expenses as follows:

Executor's Fees: Executor's fees can range from 0-10% of your total estate. Generally, if family members serve as executor, there are no executor's fees. However, if applicable, the executor's fees are calculated as follows:

Ten percent (10%) of the first one thousand dollars ($1,000), five percent (5%) of the next four thousand dollars ($4,000), and three percent (3%) of the balance of the value of all personal property (not reduced by debts).

Attorney's Fees: Attorney's fees can range from 2-5% of the total market value of all real and personal property (not reduced by debts). The attorney's fees are calculated as follows:

Five percent (5%) of the first five thousand dollars ($5,000), four percent (4%) of the next twenty thousand dollars ($20,000), three percent (3%) of the next seventy-five thousand dollars ($75,000), two and three-fourths percent (2 3/4%) of the next three hundred thousand dollars ($300,000), two and one-half percent (2 1/2%) of the next six hundred thousand dollars ($600,000), and two percent (2%) of the gross value of all real and personal property.

Step 5 - Click here if you live outside Arkansas

If you live outside of the State of Arkansas, by clicking on the continue bottom at the bottom of this screen after selecting the Executor's Fees and Attorney's Fees below, this calculator will estimate your Estate Taxes and Probate Expenses as follows:

Executor's fees can range from 0-10% of your total estate. Generally, if family members serve as the executor, there are no executor's fees. The attorney's fees range from 2-5% of your total estate. Select a percentage from each category below.

Select items below only if you chose "Outside" Arkansas.

*Executor's Fees:*																																																												*Attorney's Fees:*
0% 4% 7%																																																												2%
1% 5% 8%																																																												3%
2% 6% 9%																																																												4%
3% 8% 10%																																																												5%
Year:

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