The cost of hiring an attorney can vary. Nevertheless, they can often be invaluable to the Probate process. The earlier you contact a competent Estates & Trusts attorney, the more valuable they can be. In fact, if your loved one’s death is imminent, it is best to hire the attorney prior to your loved one’s passing. Often, the attorney can assist in pre-death strategies to minimize Probate. If your loved one does not have a Will, and they are still competent to make one, the attorney can draft a Will and help with execution so your loved one does not die Intestate.
The fee an attorney charges to Probate an Estate is often a function of many factors, including the total gross assets of the Estate, the total number of assets and the complexity of the assets of the estate, the size, number and complexity of debts of the Estate, family disputes, litigation in the Estate, time spent on the matter and other factors. As stated above, the Commission taken by a Personal Representative, combined with Counsel Fees paid to an attorney, are generally capped by statute at 9% of the first $20,000 of gross Estate assets plus 3.6% of the remainder of gross Estate assets. However, in extraordinary circumstances, the Court will approve Counsel Fees above this statutory maximum guideline.
The attorney, and the Personal Representative, must both file Petitions for their Fees and Commissions. The Court will decide whether the request is fair and reasonable given the full circumstances of the Estate, as stated above. Fees and Commissions are then Ordered to be paid by the Court.
You may like to CONTACT US for a Free Consultation or to FIND AN ATTORNEY if you are considering hiring someone to assist you as you endeavor to Probate your Estate.