Probate is the legal process of administering a deceased person’s estate. This includes identifying and valuing the assets, paying debts and taxes, and distributing the remaining assets to the beneficiaries. In many cases, the executor or administrator of the estate will hire a solicitor to help with the probate process.
Solicitors typically charge for their services in one of three ways: by the hour, a flat fee, or a percentage of the value of the estate assets. The hourly rate will vary depending on the solicitor’s experience, the complexity of the case, and the location of the solicitor’s practice. Flat fees are typically charged for routine probate cases, while percentage fees are more common in complex cases or in states where statutory fees are allowed.
Hourly Rates
The hourly rate for a probate solicitor can range from $150 to $350 or more per hour. The rate will typically be higher for solicitors with more experience or who practice in a large city. In some cases, the solicitor may also charge for the time of their paralegals or other staff.
Flat Fees
Flat fees are typically charged for routine probate cases. The fee will vary depending on the complexity of the case and the value of the estate assets. For example, a flat fee for a simple probate case with a small estate may be $1,500, while a flat fee for a complex case with a large estate may be $10,000 or more.
Percentage Fees
Percentage fees are typically charged in states where statutory fees are allowed. The fee is calculated as a percentage of the value of the estate assets. For example, in California, the statutory fee for an “ordinary” probate case is 4% of the first $100,000 of the gross value of the estate, 3% of the next $100,000, 2% of the next $800,000, 1% of the next $9 million, and ½% of the next $15 million.
Other Fees
In addition to the solicitor’s fees, there may be other costs associated with probate, such as court filing fees, publication fees, and appraisal fees. The executor or administrator of the estate will be responsible for paying these costs.
Tips for Saving Money on Probate Fees
There are a few things you can do to save money on probate fees:
- Shop around for a solicitor. Get quotes from several different solicitors before you choose one.
- Ask about flat fees. Flat fees can be a good option for routine probate cases.
- Do some of the work yourself. You can save money by doing some of the work yourself, such as gathering the necessary documents and contacting the beneficiaries.
- Consider using a non-lawyer probate service. There are non-lawyer probate services that can help you with the probate process for a lower fee than a solicitor.
The cost of probate can vary depending on the complexity of the case, the value of the estate assets, and the location of the solicitor’s practice. By shopping around and asking about flat fees, you can save money on probate fees.
Frequently Asked Questions
What is probate?
Probate is the legal process of administering a deceased person’s estate. This includes identifying and valuing the assets, paying debts and taxes, and distributing the remaining assets to the beneficiaries.
Who is responsible for probate?
The executor or administrator of the estate is responsible for probate. The executor is named in the deceased person’s will, while the administrator is appointed by the court if there is no will.
How long does probate take?
The length of time it takes to probate an estate can vary depending on the complexity of the case. Simple cases can be completed in a few months, while complex cases can take a year or more.
How much does probate cost?
The cost of probate can vary depending on the complexity of the case, the value of the estate assets, and the location of the solicitor’s practice. The solicitor’s fees will typically range from $1,500 to $10,000 or more. There may also be other costs associated with probate, such as court filing fees, publication fees, and appraisal fees.
How can I save money on probate fees?
There are a few things you can do to save money on probate fees:
- Shop around for a solicitor.
- Ask about flat fees.
- Do some of the work yourself.
- Consider using a non-lawyer probate service.
How the estate will pay the probate lawyer.By
The cost of hiring an attorney to handle your probate case varies a lot, but it will likely depend more on the location of the probate case than on the complexity of the legal work.
You can get legal assistance or have a lawyer handle the entire probate case for you. (See “Working With a Probate Lawyer. In any case, remember that you, as the executor, do not have to pay the probate lawyer’s fees out of your own pocket. In order to settle the debt before inheritors receive anything, you can use estate assets.
Kinds of Fee Arrangements
When billing for probate work, attorneys typically choose between three payment options: an hourly rate, a fixed fee, or a percentage of the assets in the estate. Your attorney may allow you to choose the method of payment, such as $250 per hour or a one-time $1,500 flat fee for handling a standard probate case.
Many probate lawyers bill clients by the hour. The attorney’s hourly fee will vary depending on your location, the attorney’s level of experience and education, and whether or not they work for a large or small firm. The hourly rate in a small town could be as low as $150 to $200. A rate of less than $250 per hour would be unusual in a larger city. Large firms typically charge more than solo practitioners or small firms, unless the latter are exclusively composed of hot-shot specialists.
An attorney specializing in estate planning and probate will probably bill more per hour than a general practitioner. You stand to gain from a specialist’s expected increased efficiency. A person who has overseen numerous probates in the local court system is likely well-versed in all local regulations and knows how to properly prepare and submit court-approved documentation.
Your attorney should bill for their time at a reduced hourly rate if they use paralegals and associates who have less experience. It is typical for legal assistants to draft the standard documentation in firms that handle estate work.
A lot of attorneys bill in minimum six-minute increments, or one-tenth of an hour. Thus, you will be charged for six minutes if your attorney (or a legal assistant) speaks for the estate for two minutes on the phone.
Additionally, it’s typical for attorneys to bill a flat fee to their probate clients. In this manner, they can avoid maintaining real-time logs of their activities. (Practicing attorneys dislike recording their “billable hours” just as much as clients dislike having to pay for continuous six-minute blocks.) Additionally, they can charge a fee that is comparable to what they would receive if they charged by the hour because they have a good understanding of how long a typical probate will take.
If you are billed in this manner, you won’t have to worry about incurring additional costs each time you wish to speak with the attorney. It can be a more relaxed experience.
Make sure you are aware of what is and is not covered if you agree to pay a fixed fee for legal work. For instance, you might still be required to pay additional court filing fees, document recording fees, or appraiser fees.