Attorney's Fee's
Is it normal practice for an attorney to base her fee on a percentage of the estates value. She has done both probate work and quite a bit of estate liquidation services.
Re: Attorney's Fee's
The statute covering legal fees for handling estates are not as precise as those covering the fees/commissions for Executors and Trustees, which are specified as percentages. Attorneys are allowed to charge "reasonable" fees. Some charge a percentage of the estate assets while most, like me, charge only for actual time spent at an agreed to hourly rate. The fees cover the services you describe and there may additional fees I charge, such as if I also handle the closing for a sale of real estate. This should be discussed in advance of retaining the attorney, as usually charging a percentage results in a windfall for the attorney, as the percetage usually surpasses the hourly rate. There have been instances, in smaller estates, where I have charged a percentage, as I knew my hourly rate could not be paid.
