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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 34293
Experience:  16 yrs estate law, real estate. Wills/Trusts/Probate
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Estate Law

New York State probate of a will: how is attorney fees det

ermined
Submitted: 6 years ago.
Category: Estate Law
Ask Your Own Estate Law Question
replied 6 years ago.

Hello,

 

Are you asking how the Executor's fees are determined?

 

Or how the attorney's fees for assisting the Executor are determined?

 

thanks

Lawpro

 

 

Customer reply replied 6 years ago.
No, I am asking how are attorney fees fixed or determined. Is there a fee schedule, such as 2% for the first $100,000 and/or 3% for anything above $100,000. Or is the attorney paid by the hour? Or does the court fixed the fee based upon the number of attorney hours.
Barrister, Attorney replied 6 years ago.

Ok, well this would depend on the attorney. Some attorneys will charge a flat rate per hour, normally $200-300 or higher. Others will enter into an agreement to charge a flat percentage of the estate gross value, normally 2-3%. Some will charge a tiered rate, similar to what the Executor will charge (5% on the first $100,000 in the estate, 4% on the next $200,000, 3% on the next $700,000, 2-1/2 % on the next $4,000,000 and 2% on any amount above $5,000,000). In New York, there is no mandatory legal fee schedule to be followed

.

But no, whatever fee the attorney charges is set by the attorney unless the court appoints an attorney to oversee the estate. If the court appoints the attorney, the court sets what it believes to be a reasonable per hour rate.

.

.

thanks

Lawpro

 

 

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