From our “Ask a Question” mailbag: I am named the executor of my father’s estate, but know nothing about the probate process nor do I have the time. I want to hire a probate attorney to help me, but how is the probate attorney paid?
As executor you have the right to use estate funds to hire professionals to assist you. Typically, you will hire an attorney to assist with the probate process, the transfer of assets and making sure you are released from liability. Typically, you may also hire an accountant, a realtor and a financial advisor.
You can have any agreement you wish with the lawyer, but we charge an hourly rate rather than a percentage of the estate. You can give a percentage of the estate as a fee, but that amount is typically either too large or too small. I find that the fair answer is to pay my firm for the work done. We provide a detailed, monthly bill of work done which seems better than taking a percentage of the estate up front.
If you have any other questions about Probate, feel free to contact our office for a free consultation.