How Much Does a Probate Lawyer Cost?
Many have known of the probate process as esoteric and time-consuming. There is a reason why people are known to be afraid of probate. There are many details, and a lot can go wrong. The good news is that you do not have to face the problem by yourself. There are attorneys who can help your family as you try to settle the estate.
The key question for you is whether a probate lawyer is a sensible investment for you and your family, and the answer is yes. To know why you need a probate attorney, you need to understand how the process works and the role the lawyer plays. You will come to understand why you need a probate lawyer and the value they provide. The alternative is that your family is left to deal with a difficult situation on your own, and you can face many potential pitfalls and stressors.
It is difficult to give an exact number as to what a probate lawyer will cost your family. Numerous factors are at play when determining how much your legal representation will cost you.
There are two primary ways that a probate attorney might charge for a case. Some attorneys will work on a flat-fee basis. They will give you one estimate upfront for your legal matter. The attorney generally knows how much time it will take to manage probate. Their experience has taught them which cases are complex and may require more work.
Flat Fee Legal Representation for a Probate Case
With flat fee representation, you pay one price, regardless of the number of hours your lawyer spends on the matter. If the probate attorney ends up spending more time on your case, you will not have to pay more. If the probate lawyer spends less time on the case than anticipated, they will still receive the same flat fee. The positive for you is that you do not have an open-ended risk of higher legal fees if your case gets bogged down in the system. In a flat-fee arrangement, your lawyer also takes a risk that your case does not present additional difficulties. Of course, the flat fee arrangement may not apply if your case ends up in litigation in probate court.
There is another variation on the flat-fee arrangement. The probate lawyer may charge a flat fee based on the value of the estate. Larger estates typically involve more work because there are more assets. Accordingly, you can expect to pay more to a probate lawyer when you are dealing with a bigger estate. The exact percentage will vary based on the individual attorney.
Hourly Charges for a Probate Attorney
A majority of probate lawyers will charge you on an hourly basis. It is difficult to give you an exact amount you might pay per hour. Much depends on the experience and skill level of the attorney. You may need a more experienced attorney if you have a case that may be challenging. The attorney may give you a ballpark estimate of how much they think your probate case will cost, but they will not be held to it. Your case might take a fewer number of hours, or it may take more. You pay for only the amount of the probate attorney’s time that you actually use.
If you hire a probate lawyer on an hourly basis, the amount you pay per hour will be in the representation agreement you sign when you hire the attorney. You may also be responsible for certain expenses related to your case, including court costs. The probate attorney can only charge you fees specified in the representation agreement. They cannot go back and add fees that are not covered after you have signed.
You will pay a probate lawyer an upfront retainer fee against the time and expenses they will likely incur as your case progresses. This is a type of advance, and your lawyer will take their fees from the retainer as they expended time on your case. If the retainer gets depleted or the balance runs low, you will pay an additional retainer. After your case, you will receive the remaining balance of the retainer, if there is any.
A Probate Lawyer’s Fees Must Be Reasonable
There is one constraint on fixed fee arrangements and attorney’s fees in general. Under the Rules of Professional Conduct that each attorney must follow, all fees that the attorney charges must be reasonable. One factor involved in determining whether a fee is reasonable is “the time and labor required, the novelty and difficulty of the questions involved, and the skill requisite to perform the legal service properly.” A probate lawyer cannot charge you a fixed fee of $10,000 for a matter that they expect to take no more than a few hours because that is unreasonable. Another factor determining whether a fee is reasonable is “the fee customarily charged in the locality for similar legal services.” If you have been quoted a fixed fee that seems very high, you are encouraged to shop around and speak with several lawyers. The lowest-priced attorney is not always the best option, but nothing says you should hire a lawyer who costs much more than the others in the field and area.
Speak to a Probate Lawyer During an Initial Consultation
Some probate attorneys may offer you a free initial consultation, where you can learn more about them and the legal process. Even if the attorney charges a small fee for the initial consultation, it may still be worthwhile to sit down with them for a little time to learn what they have to say and gain a greater understanding of the probate process. It never hurts to learn everything possible about what to expect and be as prepared as possible. Before you hire a probate lawyer, you should hear from them in their own words what they think about your case and what it may take to get the estate through the probate process.
How Much Your Case Costs Depends on Your Circumstances
The total bill for your family depends on the facts and circumstances of your case. Usually, the money you pay a probate lawyer is money well spent. Your probate lawyer performs valuable services that can take the burden off your family during a difficult time in your life. You are already dealing with grief and transition, and the last thing that you want is to have to deal with a frustrating and archaic process where every filing must be correct. There is too much room for error and other pitfalls that can delay the process and leave your family in a difficult situation.
Why You Need a Probate Lawyer to Help Your Family
The probate process involves paperwork and potentially lots of it. The overall process can be slow, as you are at the mercy of the courts and the docket. In many cases, it may take as long as a year for the estate to be closed and the assets to be distributed to the beneficiaries.
Probate involves a number of technical steps, and not everything may go smoothly. At the outset, you must file with the court to open the probate process. Your attorney provides a copy of the will that names the executor. Once the executor is appointed, they need to perform numerous tasks. The executor has a difficult job, and they are bound by the terms of fiduciary duty. If the executor makes a careless mistake or acts in their own interests, they might even be personally liable if they face a lawsuit.
What Happens During the Probate Process
The steps of the probate process are as follows:
- The death certificate is filed with the court to begin the probate process.
- The will is filed with the court, and it must be authenticated. The court will review the witnesses’ signatures, and they may even call witnesses to testify about the will. Here, there may be family members who challenge the validity of the will in a contest, which is the worst-case scenario for your family.
- Once the will is validated, the court appoints a personal representative to administer the estate. This person is also known as the executor. The representative performs tasks like gathering the estate’s property, dealing with creditors, and selling property.
- The executor would create a list of all of the assets and debts of the estate. In some cases, the executor must appraise certain property if it is valuable.
- The executor must contact the beneficiaries to inform them about the will, and they must communicate with creditors who have made claims against the estate. The creditors have the right to be paid back before the beneficiaries receive anything because it is their last chance to recoup any money from the deceased person. The executor must pay debts from the assets of the estate.
- After the debts are paid, the estate can be closed, and the assets can be distributed to the beneficiaries. They may receive the actual physical property, or they can receive money.
If the deceased person died without a will, the estate definitely needs to go through probate. The court will appoint a personal representative to handle many of these tasks. The key difference is that the actual division of the property and the percentages the beneficiaries receive will be in accordance with state law. Each state has its own intestacy laws that give percentages of the estate to certain family members. You still need a probate lawyer to oversee and manage this process.
Court Filings Must Be Done Correctly the First Time
Along the way, your family may need to make various filings with the court. These filings must be handled correctly, or your case may have further delays. Probate is already a lengthy enough process without making life harder on your family by trying to do things yourself. A probate lawyer can relieve that burden on your family by handling the details and providing legal counsel to the executor or individual family members (they cannot usually represent both at the same time).
Hiring a Probate Lawyer Early in Your Case
It is better to hire a probate lawyer at the outset of the process so they can handle all the individual steps for you. A probate lawyer is most effective when they can start from scratch at the beginning of the process. Moreover, you can begin to take some of the strain off your family as soon as possible and hand all the details of your matter over to the experienced probate attorney.
Further, hiring a probate lawyer early can also reduce the chances that your family ends up in litigation. There may be disagreements between family members or between beneficiaries and the executor that can spiral out of control. Probate litigation can be a nightmare scenario for your family due to the time, cost, and rifts within your family.
You can minimize the difficulties and future issues by seeking professional representation and assistance from an experienced probate litigator. A probate lawyer can help negotiate a solution to any disagreements, and they can work directly with the other party’s attorney to reach a settlement agreement.
If you have not already contacted a probate attorney, now is the time to do so. You are already dealing with enough at this time. Consider reaching out to several attorneys to learn about the process and how they can support you. Since you have time, speaking to attorneys in advance can help you become more prepared for when you need to go through the probate process.
Schedule Your Consultation with a Probate Lawyer
When you schedule a consultation with a probate lawyer at The Lopez Law Group, you are taking a crucial step towards ensuring a smooth probate process. During your consultation, you can expect the attorney to carefully listen to your concerns and gather important information about your case. They will answer your questions, provide guidance, and develop a personalized strategy to meet your needs.
Your consultation with a probate lawyer is an opportunity to gather information and make an informed decision. It also allows you to assess whether the attorney is the right fit for your needs. By working with a qualified and experienced probate lawyer, you can face the probate process with confidence and peace of mind.