Attorney

If you find yourself facing a probate situation, you NEED to read this blog.

Potential probate clients, often ask “how much is this going to cost?” We inevitably respond with everyone’s favorite lawyer answer: “IT DEPENDS.”

There are a lot of factors that substantially impact the cost of probate proceedings:

• If the decedent was extremely organized and has a list of all assets
• If the ALL beneficiaries get along and actively agree
• If the will was properly executed and self-proved
• If the will doesn’t have complicated testamentary trust provisions
• If the named executor(s) are qualified to serve

Those are just a few examples of issues that can greatly increase or reduce the time and monetary cost of probate. However, there are three significant factors that have a big affect on the total cost of a probate: the client’s/executor’s responsiveness to attorney communication, the beneficiary’s responsiveness to attorney requests, and the client’s ability to handle certain tasks on their own.

1. Getting ALL beneficiaries to actively agree with the will is harder than it seems. If beneficiaries do not respond to attorney inquiries and required mailings, the time and cost for conducting the probate increases dramatically.
2. An unresponsive client can exponentially increase costs if the attorney must make multiple attempts to get information. It’s standard practice for an attorney to bill at their hourly rate for all voicemails left and all emails sent. A client’s failure to respond to those requests exponentially increases costs because there are multiple billings for the same issue. Further, if the client does not provide the information needed for a statutory court deadline, some courts charge an extra fee for filings that are sent to the court after that deadline.
3. Clients should also let the attorney know how much work they’re willing to take care of on their own. Texas law does not allow a non-attorney to make court appearances and submit filings in the administration of a decedent’s estate. Even though a probate attorney is required for certain aspects of a probate, there are plenty of tasks and responsibilities that a client can take care of themselves. Clients need to discuss with their attorney if they want to take care of certain things themselves or if they’d rather pay to have the attorney complete the menial tasks for them. For example, clients will often take care of things like getting an identification number for the estate from the IRS, but the attorney can take care of it if asked.

The probate process is a frustrating mash-up of “hurry up and wait.” Attorneys and clients hurry and scurry to get needed information to the court; then all parties do A LOT of waiting. Being responsive to attorney and court inquires is key to the hurry up and wait process. Just know the harder it is to get a hold of you (the executor) and the harder it is to get responses from all beneficiaries the longer the case with take and the more money it will cost to complete.

So, to quote a cliché…help us help you - stay in close communication even during the many “hurry up and wait” times found within a probate case.

If you are facing the need to file a probate case, schedule a complimentary consult today. Together, we will discuss the who, what, when, where and why of your situation.

STEP 1: FIND AN ATTORNEY

Establishing an estate plan may seem daunting, but the first step is to locate a competent attorney who can guide you through the entire process and ensure that your assets will pass to the right people with minimal delays and costs. You will get the best estate planning advice from someone who practices exclusively in the area of Estate Planning and Estate Settlement. The law changes every year. You and your family need someone who keeps up with these changes for you. Also, recommendations are often a reliable means of locating an estate planning attorney. You can look for recommendations from others to see if they describe the type of attorney that you are looking for who can complete the work that you are seeking to be done.

STEP 2: MEET WITH THE ATTORNEY

After locating an attorney, set up an appointment to have a conversation about what your estate plan should include. The attorney will likely make certain recommendations to you in order to complete your customized estate plan. Often, people find it most beneficial to work with someone who will consult with them without a fee in order to determine if the attorney and the services they provide are the best fit for them.

STEP 3: BE PREPARED TO DISCUSS YOUR PROPERTY AND FAMILY

For the initial consultation, it is beneficial to provide the attorney with a general list of your assets and their values. The attorney will be able to determine if any special planning will be necessary to reduce potential tax consequences. When you meet with the attorney, also be prepared to answer the following questions:

• If you are married, how do you want to leave assets to your spouse?
•  How do you want to leave assets to your children? Do you want to leave assets to them outright or in a special inheritance trust?
• Who do you want to handle your financial affairs for you during your lifetime in the event that you cannot do it yourself?
• Who do you want to make medical decisions for you if you are unable?

Once you answer these and other questions, your attorney should have the necessary information to draft the appropriate estate planning documents. Meet with Justin or Jacob – schedule your free consult today.