Most adults know that it’s best to stay out of probate court, but don’t know why. There are two main issues with probate court: it ties up inheritances for months or even years, and up to five percent of the estate’s value can go toward fees for an Estate Attorney Tipp City OH.
Probate: The Process
Of all the things that happen during the probate process, most are clerical in nature. Most probate cases end without conflict, and rarely call for legal drafting, research, or a lawyer’s skills in the courtroom. The attorney or their administrative assistant fills out the necessary forms, keeping track of deadlines and other technicalities until the case is resolved.
Fees
Estate executors and probate lawyers both receive fees in exchange for their services. Most executors waive their fees, especially if they are receiving a substantial inheritance. In most places, attorneys receive ‘reasonable’ fees as determined by the court, but in some places attorneys’ fees are based on a percentage of the estate’s value.
Saving on Probate Fees
The easiest way to save on probate fees is to ask the executor of your estate to handle everything without involving an attorney. There are do-it-yourself kits, and some states have procedures in place for those who don’t hire an Estate Attorney Tipp City OH. However, a lawyer’s help and expertise can be a great help in probate court.
To hire a lawyer without the expense, you can negotiate with them, asking them to lower their fees, but such arrangements cannot be made legally binding. When setting up an estate, remember that you don’t get to select the attorney that will handle the case–that job falls to the executor of the estate.
Staying out of Probate
With all the factors listed above, it usually makes sense to keep your estate out of probate court. At the least, think about putting less of your property into probate; this will lower your fees and allow beneficiaries to access their inheritances faster. The lawyers at Shipman Dixon & Livingston Co. L.P.A can advise you as to additional ways to keep your estate out of a lengthy probate proceeding.
