Legal Question in Wills and Trusts in New York

There can be. Many lawyers will have an initial consult with you and discuss the estate plan. You can map out what needs to be done and when. In order to keep costs down, you can do some of the footwork yourself. However, you have to be completely open and honest about the estate assets, heirs and debts. Sometimes, the attorney will just bill a flat fee to cover the expenses, and other times, they'll charge a retainer (deposit) to cover the number of billable hours the case will take. It's negotiable.

Personally, I suggest you speak with two or three lawyers about your case, and pick the one that you mesh with the best.

Dave

http://nylegaladvisor.com

The commission rate in New York is fixed. For each Executor (there can be two, if more, they share the same amount as two would get) it goes like this:

5% on the first $100,000 in the estate

4% on the next $200,000

3% on the next $700,000

2-1/2 % on the next $4,000,000

2% on any amount above $5,000,000

Many attorneys charge similar rates, and many attorneys do more work than the Executor, so they may be worth it. However, there are experienced attorneys who will only charge for the actual time they spend on the case. An experienced attorney can work faster, especially on a simple estate, and the hourly rate can save a significant amount of fees. I agree that you should interview at few attorneys, checking how they bill and what they estimate, and then select the one who seems most compatable with working with you.

Listen to Walter. He knows what he is talking about.

Mike.