When you need an attorney to help settle the estate of a recently deceased loved one, you need to look for a probate attorney. You may not have heard of them before and be curious about their costs. Here are some of the things that can raise the cost of a probate lawyer.
The base fees are determined by the size of the estate and any assets that the deceased might have. The more there is to work with, the more you can expect to be charged.
You shouldn’t have to pay anything upfront. If you need an executor, they will be paid the same as the probate attorney.
If the sale of a house or business needs to be taken care of, these professionals will be paid for that as well. That is where you can see costs start to add up. There is a formula used to calculate costs based on the value of the estate. This video uses the example of a $500,000 estate with a $13,000 salary for the lawyer.
Talk to your family about how you plan on paying for the lawyer and try to find one within your budget. This is important to eliminate wasting money during this process.