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Can attorney for estate charge executors an additional fee for questions they asked about selling property above 2% estate fee
Elkader, IA
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Posted 20 days ago in Estate Planning
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We hired an attorney for an estate with a trust that could not be closed until real estate had only one owner as it was held by 8 siblings with undivided interest. The executors asked the attorney how to go about selling the property. The attorney gave advice and said to include statement "Executors and trustee reserve the right to reject all bids" Executors thought they were acting on behalf of the estate/trust so it could be closed. The attorney charged 2% to handle the estate. She also charged $200/hr. for the consultations on selling the property although the executors thought they were acting on behalf of the estate. The attorney did not disclose her fees or her intentions of when she began charging separately to handle the sale of the property. Are the executors required to pay.
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Answers (2)
Steve Fromm
This attorney is licensed in Pennsylvania.
Posted 12 days ago.
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The attorney should have put in writing any additional terms of compensation. You have two options. One, you could discuss this with the attorney to attempt to resolve this matter amicably. Two you could challenge the amount when a formal accounting is rendered.
Hope this helps. LEGAL DISCLAIMER Mr. Fromm is licensed to practice law in PA. The response herein is not legal advice and does not create an attorney/ client relationship. The response is only in the form of legal education and is intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make such reply unsuitable. Mr. Fromm strongly advises the questioner to confer with an attorney in their state in order to ensure proper advice is received. By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your jurisdiction and with whom you have an attorney client relationship. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question. Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency. 
Dennis Daniel Duffy
This attorney is licensed in Iowa and 1 other state.
Posted 3 days ago.
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I agree with attorney Fromm onn your next step to propoerly resolve this matter. Iowa probate allows an attorney 2% for ordinary fees. In addition there are extraordinary fees that can be granted upon approval by the court for extraordinary services and real estate matters are a a type of matter that is handled often that way.
Meet with the attorney and insist that the fee arrengements be dislcosed in writitng to elimate surprises or problems. |
