What You Need to Know About Probate Fees. If you live in Santa Clarita California, you know that probate is not free of charge. According to California law, the price of probate can be determined by the value of the estate. However, this is not all that you should deliberate. You should also find out about the kinds of fee arrangements with regard to probate.
You can hire a lawyer to help you out or handle the complete probate case. Just remember that as an executor, you do not have to pay your probate lawyer. It is not your duty to spend on the process. You can actually use the estate assets to pay for the fees involved. You should do this before the assets are distributed to the heirs and beneficiaries.
Probate lawyers generally charge probate by the hour, with a flat rate, or with a certain percentage. Your attorney may let you choose how you want to pay for his services. Hence, you should be aware of these kinds of fee arrangements. You have to find out which one is most suitable for your case.
Sometimes, hourly billing is preferred by a lot of probate lawyers. Their hourly rate should generally depend on how much training and experience they have. If you get a prominent well-known lawyer, you can expect to pay a higher fee.
Furthermore, you should consider your area, the size of the firm, and other crucial factors. Where you live and how large the size of the firm is can affect the fees involved. If you live in a big city, you can expect law firms to charge higher fees.
Likewise, prominent lawyers generally charge higher than those who are not as prominent. In addition, a lawyer who does not specialize in other fields except for probate and estate planning, is more likely to charge a higher hourly rate compared to a universal practitioner.
Nevertheless, it is more beneficial to hire a specialist since he has more knowledge of the local rules as well as how to file and prepare documents for the court. If you hire less experienced legal assistants and lawyers, you can be billed with a lower hourly rate. Just take note that most lawyers bill in a minimum of six minutes in increments.
Furthermore, flat rates are also commonly charged by probate lawyers. Flat rates enable lawyers to go on with their duties without having to track their work by the hour. Since they already have an idea of how long an average probate process takes place, they can charge a flat rate that is reasonable and close to what they could make by the hour.
It could be said that the worse way on how you can pay your attorney is with a percentage of the value of your estate. Although customary in certain states, this method is still not advisable. As much as possible, you have to negotiate an hourly fee or a flat rate with your lawyer.
Mortensen Law
Trust & Probate Attorneys, P.C.
22807 Lyons Avenue
Newhall, CA 91321
www.mortensenlaw.com
Santa Clarita Trust Attorney
