Can you tell me what percentage an Attorney makes for handling a inheritance?!
Question: The basic legal fees are computed as a % of the value of the estate assets and are intended tver the work involved in estates of average complexity.Estate assets do not include property held in joint tenancy or insurance,annuities or pensions not payable to the estate.Briefly stated,the basic fee is calculated as follows:
3% on the first$10,000.00
2% on the next $90,000.00
1% on the next $200,000.00
over $300,000.00 by agreement or by application to the court.
Only 40% of those fees are payable where the persoal representative is a lawyer,a trust companyor the public trustee.
Answers: The basic legal fees are computed as a % of the value of the estate assets and are intended tver the work involved in estates of average complexity.Estate assets do not include property held in joint tenancy or insurance,annuities or pensions not payable to the estate.Briefly stated,the basic fee is calculated as follows:
3% on the first$10,000.00
2% on the next $90,000.00
1% on the next $200,000.00
over $300,000.00 by agreement or by application to the court.
Only 40% of those fees are payable where the persoal representative is a lawyer,a trust companyor the public trustee.
Well in Missouri, it is 30%.
Six percent (6%) is what's usually specified for the Executor in the wills of which I'm aware - the more duties the higher the percentage, especially if there are continuing oversight responsibilities beyond the final distribution of assets.
The higher the value of the estate, the more likely the fee will be set in a predetermined amount of money or lower percentage with minimums and maximums established according to prevailing hourly rates for attornies with financial expertise.