The law firm of American Wills & Estates has been assisting clients throughout Western Pennsylvania through the probate estate administration process with competency, compassion and care for over 25 years. We handle the majority of the estates that we administer every year on a flat fee basis.
So what will a flat fee basis mean for you? A lot, but most importantly it will mean that you’ll save money and also have the peace of mind of knowing precisely what you’re going to pay.
Downside of Percentage Based Estate Attorney Fees
If you enter into an agreement with an estate attorney on a percentage fee basis, you’re probably going to pay a whole lot more than you should be paying. Why? Think about it. If an attorney tells you that their legal fee is going to based on five percent of the value of the estate, that means on a simple estate worth $300,000 that consists of nothing more than a home and a few bank accounts the legal fees are going to be around $15,000. If that sounds like way too much to pay for what should be a simple matter, it should.
Downside of Hourly Estate Attorney Fees
Likewise, if an attorney tells you that they will handle the estate administration process base on an hourly rate, that type of arrangement can be just as bad. Why? Because you will literally have no idea what your legal fees are going to be until you get to the end of the probate process. You might be in for an unpleasant surprise when you receive the 30 page billing invoice and find out precisely how much you’ve been paying for every letter, phone call and other communication that you’ve had with the attorney.
Benefits of Flat Fee Estate Attorney Fees
When we set a flat fee we typically look at the size of the estate that we’ll be handling, but we also take into consideration the relative ease or complexity that may be involved. Namely, if the only assets in an estate are a house and one or two bank accounts, the matter is going to be pretty straightforward no matter how much the property and the accounts are worth. On the other hand, if the estate consists of multiple properties, stocks, bonds and other of assets, then it’s likely that there will be a lot more time involved in handling the matter. We provide our flat fee agreements in writing so you’ll know in advance exactly how much you’re going to pay and we also do not expect to be paid until the estate administration process has been completed.
So, if you’ve recently lost a loved one and are not sure where to turn to turn to get experienced, trusted and, most importantly, affordable legal help, give us a call today at 412-381-7370 to schedule you free legal consultation or visit us online at http://www.americanwillsandestates.com You’ll be glad you did.
