Probate fees are a necessary component of estate planning, and they can’t be avoided. How much should families expect to pay in regards to the estate planning? What is fair and how do Estate Planning Attorneys in Saint Charles Missouri play into it all?
The Basic Cost
The costs are hard to organize in “one sheet,” as is said, but families can expect a basic breakdown in the area of 3% of the total estate’s value. This is not a hard fast number and can vary based on factors, such as:
* The number of valuations needed
* The financial place of the family
* The complexity of the real estate inventory (multiple homes, various property types, etc.)
* A will (or no present will)
* The debt allocated on behalf of the deceased
* The familiar disagreements prolonging the estate planning
These are just a few matters that can alter the basic cost. Ultimately, families can expect a range near 3%, and closer to 6% or 8% given the amount of “ticks” they have to deal with in the above list.
How do Attorneys Determine Cost, or Do They?
The attorney will often act as the executor or administrator in estate planning, but they do not have to. Families will sometimes opt a third party individual, separate from the arrangements entirely, to allocate the details of the will. The attorneys though, out of sheer convenience, can be executors. Yet, this does not mean they determine the costs of the estate planning. There are fees involved that go beyond the attorneys. For one, appraisers have to value the physical assets of the estate if it was not done in the recent past. These individuals are paid. There are also extensive taxes and court fees associated with any and all estate planning. These are unavoidable costs that can accumulate over time the longer the estate process is perpetuated.
It is paramount to remember that Estate Planning Attorneys in Saint Charles Missouri do not determine the final cost. Attorney fees can vary, but they are generally modest. The larger costs involved are tied to the courts and taxes. This is typically the case but, again, not always so. Contact Estate Planning Niedner Law for more in this area.
