Legal Question in Wills and Trusts in Illinois
I am planning to retain a probate lawyer to handle the Will and Trust of my deceased cousin. I am Exeutor and Trustee of the Will and Trust. My question is this: the lawyer is asking for a $5,000 retainer fee, plus expenses to be paid within 15 days of submitting these costs. HE IS ALSO NAMING ANOTHER LAWYER TO ASSIST HIM in the process. Is it customary for a lawyer to ask for these fees before committing to a contract? The assets in question are approximately the higher end of 6 figures.
2 Answers from Attorneys
It is customary for an attorney to ask for a retainer before that attorney accepts a new case. If this estate matter is unlikely to have any litigation, his retainer seems high, and his demand for immediate payment of costs is a little unusual.
I generally only ask for a retainer which is $5,000 (or higher) if there is a legitimate question as to whether my client will be entitled to any portion of the Estate.
However, some attorneys prefer to have large retainers before they will accept any matter.
As executor and trustee, it is your responsibility to find an attorney you can work with effectively. There are many attorneys in Illinois, maybe you can find someone you can work with and communicate effectively with. Any attorney you consult should be able to explain to you what they will bill for and the hourly rate or flat fee amount to be charged. It is the standard practice to seek an upfront payment before an attorney commences work, and there should be clear communication concerning whether any unearned amounts prepaid will be refunded to the client. Also, the attorney should be able to tell you what actions on his or her part appear necessary to help you administer the estate with a discussion of fees and costs.