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I am a trustee of a living trust as my mother just passed…

I am a trustee of...
I am a trustee of a living trust as my mother just passed away. I met with the Estate Law attorney who prepared my parents living trust yesterday and felt comfortable with their knowledge and 30+ years experience.It's a fairly simple trust which consists of a $1M home less the outstanding mortgage.The beneficiaries consists of their church, me and 2 of my nephews of which I am the largest beneficiary. The two nephews will not receive their payouts for another 6 years as they have not yet reached the minimum age set forth in the trust. It all seems very simple and clean cut to me.My question to you is, what rates are customary for an estate lawyer to charge to help settle and estate which I have described?P.S. I was anticipating an hourly rate and they quoted me a % rate of the estates' value for Year #1, and then a much higher rate for Years #2-6. In both cases the total rate was much higher than I would have anticipated for what seems to be a fairly simple probate. What's reasonable/traditional rate?
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Answered in 2 minutes by:
12/7/2017
Roy Hadavi
Category: Estate Law
Satisfied Customers: 1,107
Experience: Attorney at Law Offices of Rosenstein & Associates
Verified

Hi. My name is ***** ***** I am a licensed California attorney with extensive estate planning and administration experience. I would be happy to provide assistance. Please keep in mind that our conversation does not include an attorney-client relationship and this is for general information purposes only.

I am sorry to hear of your mother's passing. It is never easy to lose a loved one.

To clarify: you mention a trust throughout your question and then you mentioned probate at the end. Does any of the estate need to be probated or are all your mother's assets in a trust?

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Customer reply replied 2 months ago
Sorry, sloppy language on my part. It's a living trust. Please ignore the reference to the word "probate" as her only asset (the house) is already in the trust and has been there for nearly 30 years).What I was referring to is the settlement and payout to to the beneficiaries from the sale of the the house already in the the living trust.Sorry for any confusion.

No problem, I want to answer accurately.

Answer: A trustee generally charges a percentage fee based on the assets of the estate for their services. However, an attorney should not be charging a percentage of the estate for assisting in closing out the estate and distributing the assets of the trust. The normal fee for an attorney for this type of matter would be an hourly rate. The hourly rates in California have a wide range, but are generally between $250 to $600 depending on the prestige of the firm handling the matter, where you are located in California, and the experience of the attorney.

If you are located in Southern California, I would be happy to provide a referral that can give you a quote on assisting with this matter.

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Roy Hadavi
Category: Estate Law
Satisfied Customers: 1,107
Experience: Attorney at Law Offices of Rosenstein & Associates
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