How Much Does Probate/Estate Administration Generally Cost in Legal Fees?
April 16th, 2020 in Estate Planning, Probate, and Working with NC Planning
Probate Cost Estimation
It’s the question that’s often dreaded, but we would be lying if we said it’s one we hope to never hear. In fact, it’s one we always encourage everyone to ask. The only thing to bear in mind when asking this question is that probate/estate administration is not a cheap process, for the simple fact that it is a process, so the answer will almost always be unpleasant to hear. Are you curious about Probate Cost Estimation?
Attorney Billing Structures
Regardless of how you ask the question, the answers should always be transparent; even if it doesn’t align with what you’re seeking. With that being said, you’ll also find that no one attorney will bill the same for their service and that’s because there’s no set rule for how each attorney can bill for their time and services. Some billing structures are as follows:
- Hourly
- Percentage of the estate value
- Fixed fee
At NC Planning, we’ve seen legal costs come to $5,000.00 at minimum when billing hourly for legal services. We will work diligently and professionally to get you the outcome you are seeking, at a rate you can afford.
Why can’t the vehicle pass to the other owner listed on the title? 07-26-2019
There are many assets that can be listed as jointly owned, but to have it transferred upon the death of one owner are the magic words, “with rights of survivorship.” Without these words, an asset is simply just jointly owned, meaning you only own half of the asset. So, upon one of the owner’s passing, their half will not and cannot transfer to the other owner. Thus, the terms “with rights of survivorship” will free you from having to file the proper forms with the clerk’s office to gain full ownership of the vehicle.
