What is your best estimate of how much time, should an attorney estimate to get an estate settled?

Get Legal Help Today

 Secured with SHA-256 Encryption

What is your best estimate of how much time, should an attorney estimate to get an estate settled?

My father’s estate is valued at roughly $1.5mm. It’s not an especially complex estate – one home, one investment account, a few life insurance policies, a couple of retirement accounts but no other complex or exotic investments. What is a reasonable “blended” (attorney and paralegal combined) rate the attorney should charge? How long (in months) should it take to settle this type of estate (general estimate)?

Asked on December 9, 2014 under Estate Planning, North Carolina

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

The fee for an attorney to assist in he settling of an estate is statutory in North Carolina. They must be "reasonable" and not exceed 5% of the estate, and they will offset the executor’s commission (meaning that if the attorney does more then the executor's commission is less).  As for time, that is not easy to say.  You must publish and allow creditors the statutory time to file claims and tax returns must be filed within 9 months of the date of death (if required by law).  Speak with the attorney you interview about this.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption