Many executors decide, sometime during the process of winding up an estate, that they could use some legal advice from a lawyer who's familiar with local probate procedure. But if you're handling an estate that's straightforward and not too large, you may find that you can get by just fine without professional help.
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May 24, 2013 · I am frequently asked whether an attorney who is acting as an executor for an estate can receive both an executor’s commission and legal fees for representing the estate. Although this may sound like a conflict of interest, the short answer in New Jersey is yes, it is specifically allowed under New Jersey Statute 3B:18-6.
Many executors decide, sometime during the process of winding up an estate, that they could use some legal advice from a lawyer who's familiar with local probate procedure . But if you're handling an estate that's straightforward and not too large, you may find that you can get by just fine without professional help.
Aug 27, 2012 · 3 attorney answers. You may change attorneys at any time you want. I would first speak with the prospective new attorney you wish to use. Make sure you are comfortable with them, and with their fee arrangement. The new attorney can guide you through the process of obtaining the file from the current attorney, and entering a technical "appearance" at the …
Most clients anticipate that the designated attorney will serve as both the Executor and counsel to the Estate, unless another attorney is needed for any reason, such as counsel to handle the ancillary administration of the Estate in another state, or when a conflict may arise between the Executor and the Estate.
You may change attorneys at any time you want. I would first speak with the prospective new attorney you wish to use. Make sure you are comfortable with them, and with their fee arrangement. The new attorney can guide you through the process of obtaining the file from the current attorney, and entering a technical "appearance" at the courthouse.
You are entitled to switch attorneys anytime you wish except in rare circumstances. You should also request a copy of the file from your current attorney.
You can usually change attorneys any time you want. You would owe the prior attorney for work that has been done by not yet billed/paid. James Frederick...
In addition to potential conflicts over Executor compensation and/or attorney fees, other conflicts may arise from the designation of the attorney as the Executor, including potential conflicts with other family members who may also be clients of the attorney. It is recommended that the attorney send you a written confirmation ...
In order to avoid the appearance of impropriety, the attorney may elect not to be a witness to the Will. In some cases, another attorney may be asked to handle the execution of the Will, or another notary public may be asked to acknowledge your signature.
Whether or not the attorney is designated as the Executor or as a Co-Executor, another attorney may be retained to represent the Estate. Most clients anticipate that the designated attorney will serve as both the Executor and counsel to the Estate, unless another attorney is needed for any reason, such as counsel to handle ...
Although professional fiduciaries generally publish a fee schedule for their services, New Hampshire does not have a standard commission for Executors. You should ask how your attorney will charge for services as the Executor. Under New Hampshire law, Executor compensation is subject to Court approval. If an Estate is closed informally ...
Under New Hampshire law, Executor compensation is subject to Court approval. If an Estate is closed informally through a motion for summary administration, however, these fees will be subject only to the approval of the beneficiaries of the Estate.
Stricter disclosure rules will apply if an attorney solicits a designation as the Executor of your Estate. Attorneys cannot ethically include themselves as an Executor or successor Executor without your informed consent. Similarly, an attorney cannot require you to designate him or her as the Executor. Of course, you may always execute ...
If the executor is submitting an estate accounting, his lawyer’s fees will be paid by the estate because the accounting is assumed to benefit the estate. Defending that accounting is also assumed to be for the benefit of the estate.
If a beneficiary contests the will, the default is that the attorney who defends the estate’s status quo is being paid by estate funds. The executor can apply to the court to have attorney’s fees for work that is done on the executor’s behalf to be paid for by the estate out of the funds that are meant to go to that beneficiary ...
It is important for a beneficiary to know how attorney’s fees are paid out when probating an estate, especially if the beneficiary is contesting a will.
Call the Law Offices of Albert Goodwin at (212) 233-1233, New York estate, guardianship, wills, trust, Medicaid and probate lawyer, and make an appointment to discuss.
In general, executor’s legal fees are paid for out of the estate funds. Additionally, in New York, there is no set amount of attorney’s fees, but rather those fees need to be reasonable. The payment of attorney fees has to take place before gifts are given out to the beneficiaries as with other creditors such as funeral homes or credit cards.
Can an executor pay their attorney with estate funds? It is common for an executor to hire a New York estate attorney to assist in probating an estate. Usually, handling an estate takes work, plus an executor may not know how to deal with every issue that could arise during probate. Many beneficiaries may wonder how attorney’s fees ...
Legal fees are instead considered a cost of administering the estate, not a personal expense that will be expected of the executor to pay. It is important when hiring an attorney that an executor hires a New York estate attorney who is familiar with what is considered a fair legal fee in New York and who can also handle everything from ...
The executor of a deceased person’s estate is a fiduciary, someone legally and ethically bound to manage assets in the best interests of another party. Like most executors, you are probably eager to do a good job and to take care of estate business in a timely fashion. Unfortunately, the obligations that appear urgent may in fact be less important than others you may not yet be aware of.
One example is paying bills. As executor, the deceased’s mail has probably already started coming to you, and that mail likely includes bills: medical bills from the last illness, utilities, credit card bills, and so forth. As a diligent executor, you may think you have to pay these bills immediately to keep the finances ...
If you don’t pay all bills immediately, what do you do? When you receive a bill, you can use the information on it to contact the creditor to notify them of the death. But what about creditors who don’t send monthly bills?
As a fiduciary, you are obligated not only to act in the best interests of the estate and its heirs, but to thoroughly document your actions. This seems obvious in the abstract, but in real life, it is easy to let things slip or to assume that because you have good intentions, everything will work out.
Once creditors are notified of the death, they have a limited amount of time in which to file claims. If they don’t file a claim within that time period, it is barred.
Keeping accurate records and using qualified professionals means that you will have at your fingertips the information that heirs may want and that they deserve to have. If you are open and transparent with heirs, they will be confident in your management of the estate, and legal disputes will be much less likely.
Failing to Communicate with Heirs. As a fiduciary, not only are you obligated to communicate with the estate’s heirs as a business and legal matter, but doing so will also help preserve important relationships.