Legal Question in Wills and Trusts in Louisiana
Laws concerning percentage attorney will take from estate as fee
Is there a law which prohibits an attorney from taking a certain percentage of money from the estate as a fee? The one I hired wants 1.5% to 3% if not going by the will and 5% if he has to go by the will.
2 Answers from Attorneys
Re: Laws concerning percentage attorney will take from estate as fee
There is no set fee schedule for successions. The old minimum fee schedule was repealed, years ago. If you don't like what your present attorney wants to charge, consult another attorney.
Re: Laws concerning percentage attorney will take from estate as fee
Dear Law Guru Friend,
I do not think there is any such law. I believe an attorney can base his attorney fee for handling the estate on a percentage of the value of the assets of the estate. I know that that has traditonally been done in Louisiana for many, many years. Now, there is nothing that says that a succession representative (administrator or administratrix, or executor) has to agree to pay such a fee. Attorney fees are negotiable; and if you are not satisifed with the fee quoted, then contact other counsel until you find one who quotes a fee that you are agreeable to. Best of luck!
Sincerely,
Hardy Parkerson, Atty.
Lake Charles, LA
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