estates

[mulitweed]

Sometimes a trust can simplify things or sometimes it can complicate things leading to more expense. I'd want to know the number of hours, the rate, and what work needed to be done. If it's a $12,500 bill for a $12,500,000 estate....

A little over a million in assets

 

[paulsharvey]

A little over a million in assets

1% of the value doesn't seem too bad.

 

[mulitweed]

What was the hourly rate compared to what other lawyers charge in your area?

not sure this lawyer is where the trust was done , I know if they call u talk for 3 mins its a half hour charge

 

[2manyrocks]

Whether the fee is in line with the work actually needed and a reasonable hourly rate in your community means looking into what you were charged and what others would have charged for the same work in your community.

Generally, the fee will be whatever the heirs don't object to, but if you have reason to believe the fee is excessive, you could discuss it with the lawyer and/or ask the probate court to review it if you aren't satisfied with the answers you get.

 

[paulsharvey]

$12,500 over 3 heirs, and a good sized estate, I wouldn't consider that high.

 

[2manyrocks]

Maybe okay, but IMPO, much depends on whether everything was already in the trust and set for easy distribution with no infighting among the heirs and only minimal attorney work required.

 

[ultrarunner]

I learned quick when dropping off mom's and the trust tax return when I asked few questions...

The CPA is also a Tax Lawyer.

He has done tax service for over 20 years for mom.

Several weeks later received a bill for $400 tagged estate consult.

I was surprised as no discussion on rates or billing... lawyer was having lunch at his desk and said ask your questions.

I say inexpensive lesson for me...

So far I prepared my own deeds and shuttled documents to the recorder, etc. and distributed assets according to the trust...

If I understand your question I think the charge arrived as a surprise as billing details had not been discussed?

 

[hslogger]

maybe off topic , my mom passed away a year ago , she had some land and a house all in a trust , i have two siblings the will said divide everything equally , went to settle everything yesterday at the law office , bill was $12,500 seems high but i dont know its done i guess

A trust is a document that is supposed to consolidate all the assets. All the owners of the trust are, owners. What ever is spelled out in the trust makings should include the WILL, which is separate.
Maybe you had an attorney to just keep the peace amongst all concerned. My only input is to take notes every day on ALL things related to the disbursement of the proceeds. Notes and notes and notes. These things can be as pleasant or unpleasant as the participants. Keeping precise written notes on everything will simplify it all in the end.

 

[mulitweed]

I learned quick when dropping off mom's and the trust tax return when I asked few questions...

The CPA is also a Tax Lawyer.

He has done tax service for over 20 years for mom.

Several weeks later received a bill for $400 tagged estate consult.

I was surprised as no discussion on rates or billing... lawyer was having lunch at his desk and said ask your questions.

I say inexpensive lesson for me...

So far I prepared my own deeds and shuttled documents to the recorder, etc. and distributed assets according to the trust...

If I understand your question I think the charge arrived as a surprise as billing details had not been discussed?

correct , seemed like they wanted to drag it out $$$ done now I know I'll never hire them again

 

[mulitweed]

correct , seemed like they wanted to drag it out $$$ done now I know I'll never hire them again