Anyone here an Estate Atty?

[buddy]

Need some advice on what questions to ask.

Need to settle an investment account of a deceased parent. Actually, both parents are deceased and 5 adult children remain. Unfortunately, there was no beneficiary, no will or no executor.

Monies involved are $40 K plus.

What kind of fee should I expect to pay the atty?

Thanks.

 

[Eddie Haskell]

Don' t know about e state attorneys Buddy. Personally, I am an ohio state and kentucky state attorney.

Sorry, Buddy:

Just an old ambulance chasing, scumball, storefront mouthpiece, here (according to some).

Eddie

 

[buddy]

Ed,

You're entitled to the same reply you probably hear from most of your clients...

Thanks for nuthin'!!!

:moon:

 

[djv]

Buddy do you need toget one? Can your local probate court handle. I believe if all five of you can agree on must everything. Then ask the court. And if you need one at least some work will be done. Then maybe the cost will be a lesser %%. In fact ask the attorney if he will work for a negotated fee upfront inplace of a %%. I Hope any of this helps you some how.

 

[buddy]

Found out most attorneys handle probate / estate matters.

Spoke with a local attorney I found in the yellow pages.

Said normal fee is 5% of the gross amount or I could pay his hourly rate which is $175...

Called my church.

Asked if there was an estate attorney listed in the congregation.

Got a name.

Called.

Fee is 3% of the gross or $90 per hour.

Praise God.

 

[Eddie Haskell]

Buddy:

I didn't know you were Jewish.

Ed

 

[DOGS THAT BARK]

Buddy Sorry to here of death in your family.Here is some reading that may help you. While being familiar with laws here, Pn is different matter. Here is link to Pn EPIC (Estate and Protected Individual Codes. Towards the botton you will find area about when person dies intestate(without a will)

http://www.pacode.com/secure/data/055/chapter258/chap258toc.html

 

[djv]

Good for you Buddy. Great idea you had. I must remember that.
Good Luck hope all goes well. Losing someone is hard enough.

 

[buddy]

Hey guys,

Thanks for the condolences, but my wife's mother died 4 years ago. We just recently discovered, much by accident and to my wife's benefit, this financial matter was left unattended.

So now we're just trying to have someone appointed as the executor so we can have the money released and divvied up among the rightful heirs.

And by the way Ed, I'm not Jewish but if I had two pennies I could turn them into 100 ft' of copper wire faster'n anyone you know !!!



PS. Dogs, thanks for the link. I very much appreciate your effort in trying to help. Thanks again.

 

[Eddie Haskell]

Don't worry Buddy. Dogs often misreads posts.

Ed

 

[buddy]

The other day I saw two dogs walk over to a parking meter. One of them says to the other, "How do you like that? Pay toilets!"
--Dave Starr

 

[djv]

:lol2 :nutkick :hitwithro :142smilie

 

[cooz3]

buddy ...not sure exactly why you need to pay for an attorney...

a famile member dies intestate (without a will)...there has to be a default statute in your state....the interpretatio of that statute is most likely straight forward...you will probably need a few things interpreted ..legalese shit...

so maybe the hourly rate may be better...you may only need an attorney to explain the procees and language the statute calls for...which wll take far less than the 3% of the estate's liquidated funds...

especially if the process is by "per stirpes" ..which is a very easy concept and would take me about three paragraphs to explain to you...

i understand the court process can be confusing and intimidating to some...but honestly if you look into what your state statute calls for ..it may save you a bundle..in addition you did not mention any real property...if all the assets are liquid it may be very simple..

more than happy to help you if i can ..

cooz

 

[buddy]

Cooz,

Thanks for the reply.

There is no real property involved.

Assets are liquid (mutual fund account).

I just looked up the meaning of "per stirpes" on Ask Jeeves and was encouraged. Didn't realize the layman could handle any of these matters by just knowing what to look for and why (much like handicapping!).

Cooz, if possible could you tell me where to look in order learn what the Pennsyvania statute calls for in this matter.

That would be a tremendous help.

Thanks for your advice and concern.

 

[buddy]

PER STIRPES - Lat. Term used to designate a system of inheritance under which children take among them the share which their parent would have taken had he survived the decedent. Thus the children are said to claim their shares by representing their parent.

 

[cooz3]

BUDDY IM IN BOSTON SO ILL CAN GIVE A GENERAL IDEA....

I WOULD START WITH YOUR STATE GENERAL LAWS...USE THE SEARCH WORD INTESTATE...OR PER STIRPES SOMETHING RELATING TO YOUR SITUATION

ALSO CHECK THE PROBATE COURTS WEBSITE...THEY MAY HAVE A SERACH ENGINE OF THIER OWN ALSO...IN ADDITION THEY MAY HAVE A SECTION ON FREQUENTLY ASKED QUESTIONS ..WHICH MAY APPLY TO YOUR SCENARIO...

AND TRY THE AGE OLD METHOD OF PICKING UP THE PHONE..LOL

CALL THE PROBATE COURT ..SPEAK TO THE CLERK..AND ASK WHAT STATUTE APPLIES TO DYING WITHOUT A WILL...OR TRUST IN PLACE..HE/SHE SHOULD BE ABLE TO HELP YOU...

PRETTY GENERAL STUFF.....HOPE IT HELPS..

COOZ

 

[cooz3]

BUDDY I FOUND THE STATUTE..

I TYPED IN PENNSYLVANIA STATE STATUTES..

FOUND THE PENN. CONSILIDATED STATUTES

WENT TO TITLE 20

WENT TO CHAPTER 21 "INTESTATE SUCCESSION"

I HAVE TO HEAD TO A MEETING...I WILL BE BACK ONLINE TOM. IF YOU WNAT TO ASK ANY QUESTIONS REGARDING THE LANGUAGE IN THE STATUTE..

GOOD LUCK

COOZ

 

[buddy]

Cooz,

I found the Pennsylvania Consolidated Statutes / Decedents, Estates and Fiduciaries (Title 20).

I read Chapter 21 titled, "Intestate Succession".

My question is this:

I've been told I need an attorney to initiate a Petition For Probate and Grant of Letters. Is this something I can do myself?

In addition, since there are several adult children involved, I've been told a Letter of Renunciation will have to be signed by those not wanting to be the executor. Seems to me, A Letter of Renunciation is just a fancy way of having someone scribble a note saying, "I ain't interested in bein' the executor. Let someone else handle that crap. Just send me the cash."

Since the adult children are scattered across the country, expediency and common sense would have my wife be the executor (The investment company has been sending the info to our address, anyway).

Where can I find a Letter of Renunciation or is this something I can design myself?

Thanks much,
buddy