tractorguy wrote:I'm planning to suggest to the family that we leave everything alone for several months to a year...
tractorguy wrote:The Estate executor is one of his daughters who also has never dealt with this before. We're going to talk to the family lawyer after Thanksgiving. The family is prepared to follow his advice but I am not by nature comfortable with just handing problems over to someone I don't know without some idea of what should happen.
jb9 wrote:Perhaps this doesn't need to be stated, but I would suggest that you use a lawyer that specializes in Probate. When I had to settle an estate in my family, I used an attorney who actually didn't know what he was doing. I regret the decision to this day. I ultimately had to intercede with the courts to get the estate closed. The lawyer was incompetent and I still may end up reporting him to the state bar association. Not all lawyers do probate and understand the state laws that surround it.
Default User BR wrote:A full probate will take a long time regardless...
Rupert wrote:Avoiding probate is the whole point of estate planning after all.
JDCPAEsq wrote:Default User BR wrote:A full probate will take a long time regardless...
A full probate doesn't necessarily have to be long or expensive. I've wound up full probate administrations in a few months at very little cost.
The earliest that an estate may be closed and distribution made to the heirs or beneficiaries is approximately six months and 10 days after the date of first publication.
bsteiner wrote:The lawyer generally handles the estate tax return.
Dale_G wrote:Of note - many states permit lawyers involve to charge "reasonable fees" - often 3% of the estate. Fees are almost always negotiable however.
Stuart01 wrote:Just wanted to stress that, if not a large complex estate, the executor can probably complete the process without the hassle and expense of an attorney. I've done two in Florida for family members and in the middle of one for Maryland. Lawyers like to do these, of course, since they are generally easy and they can make some money, but they are often not needed.
At least here in Maryland, probate for a small estate is nicely defined and generally easy for an individual executor (called the personal representative in MD).
Best of luck to you and your family.
Users browsing this forum: DSInvestor, flyingbison, GoldenFinch, Google [Bot], HoopDiddyDiddy, lckamp, mak1277, MikeWillRetire, Millennial, Minot, mmmodem, OAG, Pixafari, rickberg, Rupert, sunny_socal, Workinghard and 107 guests