Legal Question in Wills and Trusts in Ohio
Attorney's fees
What would standard attorney's fees be for assisting an executor in settling an estate in Ohio. Is it usually 33 percent or lump sum fee or a much lower or higher percentage. What can I expect to pay. Estate value is about 100,000.
Mike
4 Answers from Attorneys
Re: Attorney's fees
The fees for administrating an estate are negotiable, and will vary with location, that is a large city vs. a small town. Estate administration is typically an hourly engagement. Do not agree to pay anyone a percentage of the estate. If there are no complications, such as a will contest or real estate title problems, you should expect between $3000-$5000. There will also be some miscellaneous filing fees and expenses.
Re: Attorney's fees
Some attorneys in certain Ohio counties still charge by a percentage of the estate, typically in the 2-4% range. Many now charge hourly for actual time incurred. Also depends on the type of matters involved, like litigation would cost extra. Fees are negotiable. Call around.
Re: Attorney's fees
Attorneys fees are negotiable and usually depend on the extent of the services rendered. It would be highly unusual for attys fees to consume 33% of a $100,000 estate. Unless there are some real complications - disputes among beneficiaries and complex title issues, I think you should expect to pay no more than $3,000 - $5,000 - and probably much lower.
Re: Attorney's fees
Such fees are negotiable. A written contract is advised. Re your 33% fee, you may be confusing this fee with a personal injury contingent fee arrangement. For an estate of $100,000 without complications, objections, will contests, real property problems, etc., the fee should range from $2,500 - 5000. Filing fees, costs of appraisals, expert witnesses, tax return preparation, etc., would be extra.