Legal Question in Product Liability in New York
What's the usual rate for handling an estate?
I'm sorry not even knowing the correct term for what I'm asking. We are about to hire a law firm to handle my mother's estate. They gave us a list of all the things they'll do to locate her assets and find out if an original copy of her will is on file, etc (we only have a copy). Could someone please tell me what the usual rate is for performing these services? This law firm charges 4%.
Thank you very much.
1 Answer from Attorneys
Re: What's the usual rate for handling an estate?
It is usually called "Probating" or "Settling" the Estate.
Lawyers often charge an "fee" equivalent to what the fiduiciary is permitted (by State Law) to charge, for handling an estate matter.
The "Fiduciary" fee is "scheduled" on a percentage basis; and may be found in the Red Lawyer's Diary, which you can probably view in your lawyer's office.
An Estate Fiduciary may be called a Executor/trix; Administrator/trix; Trustee; Guardian, etc..
Good luck,
Phroska L. McAlister,ESQ
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