Estates that have a gross value of over $166,250 (effective 1/1/2020) of personal property (assets consisting of cash, stocks, and tangible personal items) normally require probate. Any estate that includes real property worth more than $55,425 (effective 1/1/2020) requires probate, however there are small estate proceedings that can be used to settle estates having real property valued under $166,250. These alternative proceedings can be completed much quicker and are less expensive than the full probate process. Keep in mind that these values are gross estate values and do not take into account any debts that are owed on the property.