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Originally Posted by goneil2024
I am currently going through settling my mom’s estate in RI. I am using an elder attorney and over two decades ago created and periodically update all the necessary documents for mom, dad and other senior family members that also resided on the same property. [Trusts, wills, POA, POD, health directives, etc.] I thought i knew what should be done and must be prepared for when the inevitable day would arrive.
There were five seniors and each passed between 2 - 10 years apart, however as all the documents were in place and with limited guidance from the attorney I was able to administer and close out each estate through small estate probate. However, the last senior to pass has been a bit more challenging, so the decision to have counsel and others assist has been valuable.
I also negotiated a hourly fee for the legal services so was able to keep costs modest. In addition to the elder care/estate attorney, a CPA, appraisers and others were consulted. State tax and mandated fees I have no control over, however all other expenses are manageable and appear to be reasonable.
I recommend using trained, licensed professionals to handle such matters for a number of reasons:
1. To be sure all required forms and filings are made
2. I would seriously reconsider an DIY approach unless you are trained in such matters
3. In my case there are multiple beneficiaries involved so having independent 3rd party professionals involved adds transparency and objectivity to the process
Just my opinion based on experience over the past 25 years. This is not financial or legal advice only my opinion, you should consult professionals when making such important decisions.
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In my case, I had a will, signed by my mother, leaving everything she owned to me. The only asset to be probated was her house. There were no other heirs. The only reason for probate was that a title company would not prepare a clear title to a buyer, based on a will. I thought it was outrageous for an attorney to ask for a $4,500 fee for less than an hour of work by a legal assistant. That is why I did it myself.
I will also add that negotiating an "hourly" fee with an attorney is not good enough. You need to negotiate the total fee, or you may be shocked by the bill.