DGAA bLAWg

Attorneys Stand to Collect Two Million in Prince Estate - A Matter of Probate, or Excessive Attorney Fees?

Web Admin - Thursday, August 18, 2016

Just days after the announcement of Prince’s death, media coverage revealed that the pop icon had died without a will. It seems strangely out of character, given how obsessively he controlled everything else in his life – copyrights, creative oversight, and releases – but all too true. His estate, his alleged vault of unreleased music, and all that he had worked so hard to build over the course of his life would have to go to probate (a legal process is used to identify, value, and divvy up a person’s assets in the absence of a will).

Attorneys, who have been designated by the estate’s executor, are currently sorting through the estate, trying to determine the value of his assets and determine how they should be divided, and the fees are adding up. As of right now, they are slated to collect around two million dollars (and the cost is still rising). Are these fees justified – simply the cost of having to go to probate – or are they excessive? The following will examine this point and will provide tips on controlling attorney’s fees during the probate process.

Are the Fees Justified?

Without looking directly at the work that needs to be done on the Prince estate, it is difficult to say for certain whether or not the costs are justified. However, the idea of paying out two million for probate on any estate – even one as complex and vast as Prince’s – does seem a little excessive. Unfortunately, now that the attorneys have already done the work, controlling the fees may now be difficult. If the executor had done a little due diligence, things might have turned out differently.

Controlling Attorney’s Fees During Probate

Some states let attorneys charge a percentage fee on the amount of the estate. Illinois is not one of these states. This does not mean that fees do not spiral out of control here; it simply means that you will generally face one of two fee schedules for a probate case: a flat fee, or an hourly one. Each has its own advantages and disadvantages, and you must understand them in order to avoid overcharging on your probate case.

Hourly fees can quickly get out of control, especially if they are following a commonly used minimum increments. For example, if your attorney spends two minutes on a phone call on behalf of the estate, they may charge you for six minutes (one-tenth of an hour). This makes it critical that you take the time to review the minutes you are charged for, and that you inquire about anything that does not make sense to you.

Flat fee attorneys do not charge hourly, so you do not have to worry as much about the “billable hours.” This can make for a more relaxed experience, but you might also be surprised to learn that certain elements are not covered in your fee. Make sure you understand what expenses are covered and which might be considered “extras” in your case (i.e. postage, filing fees, appraiser fees, etc.).

Regardless of which type of attorney you decide is most appropriate for your probate case, you should always request a fee agreement that outlines when and how you will be billed for services rendered. This agreement should cover:

- The type (hourly or flat) and the amount;
- An estimate of the overall cost for your case or number of hours );
- Who your contact will be with the law firm;
- How costs and expenses will be described in the billing process;
- How frequently you will be billed; and
- When payments will be due.

Our Attorneys Offer Affordable, Quality Legal Representation

At Drost, Gilbert, Andrew & Apicella, LLC, we understand how frustrating it can be to watch attorney’s fees rack up. That is why we offer skilled but affordable estate planning services to our clients in Arlington Heights, Long Grove, Barrington, and the surrounding areas. Dedicated to your interests, and to ensuring that your case is handled with the utmost level of care, we use creative and innovative solutions to improve the outcome of your case. Contact our Kenilworth estate planning attorneys today for more information.


About the Author: Attorney Jay Andrew is a founding partner of Drost, Gilbert, Andrew & Apicella, LLC. He is a graduate of the University of Dayton School of Law and has been practicing in estate planning, probate, trust administration, real estate law, residential/ commercial leasing, contracts, and civil litigation. Since 2005, Jay has been a Chair of the Mock Trial Committee for the Annual Northwest Suburban Bar Association High School Mock Trial Invitation which serves over 240 local Illinois students each year.



Source:
http://minnesota.cbslocal.com/2016/08/01/legal-bills-prince-estate/




Recent Posts


Tags

insurance dispute attorney Des Plaines DUI attorney personal injury, auto accident injuries, delayed injuries, serious injuries, Des Plaines personal injury attorneys workers compensation insurance disputes, Illinois insurance disputes, Illinois insurance dispute attorneys, denied insurance claims, Arlington Heights insurance dispute attorneys anesthesia errors Rolling Meadows Attorney Arlington Heights accident attorney Palatine insurance lawyer capital gains tax Illinois construction accident attorney liability Long Grove estate planning Schaumburg insurance lawyers food poisoning Buffalo Grove criminal defense lawyer ObamaCare Rolling Meadows Traffic Lawyer Schaumburg personal injury lawyers loss of consortium Deer Park DUI lawyer Long Grove real estate lawyer estate planning for college students Palatine corporate law attorneys Illinois tax attorney nursing home negligence startup company Buffalo Grove employment lawyer Crystal Lake insurance lawyer rest breaks speeding Palatine traffic lawyer Crystal Lake medical malpractice law firm Chicago biking tips Illinois estate planning law firm traffic laws medical malpractice claims deadly crashes Home Remodeling Repair Act clemency Chicago insurance claim attorneys dram shop law Chicago attorney dynasty trusts Rolling Meadows business lawyer life insurance policy Buffalo Grove traffic lawyers dealing with problem employees premises liability Barrington estate planning lawyer Schaumburg elder law lawyer employees Barrington drug crime attorney Des Plaines real estate lawyer fatal car accidents DUI attorney real estate attorney criminal defense Chicago will attorney criminal record Barrington workers compensation attorney living wills FMLA back injuries breach of contract Arlington Heights trucking lawyer disability benefits Illinois job attorney cell phone accidents operating agreements employment law, meal breaks, rest breaks, hotel employees, Des Plaines employment law attorneys ACA Illinois insurance disputes personal injury lawyer automated cars Rolling Meadows Rolling Meadows traffic attorney South Barrington real estate attorney Rolling Meadows real estate attorney filing a medical malpractice claim Schaumburg car accident attorney unauthorized overtime spinal cord injury gift taxes Deer Park criminal attorney living trust pedestrian accident Landlord Tenant Ordinance Inverness DUI lawyer Rolling Meadows insurance dispute lawyers estate planning lawyer murder Des Plaines injury law firm landlord tenant law probate fees insurance claim dispute attorney Illinois jet ski accident lawyer real estate lawyer workers comp Arlington Heights real estate lawyer privacy laws LLCs Arlington Heights estate planning attorney insurance claim denial manufacturing Rolling Meadows employment law attorneys construction accidents Schaumburg estate planning lawyer meal breaks Palatine injury attorney denied insurance claims insurance dispute traffic deaths car crashes vacation home elder abuse Rolling Meadows insurance lawyer Chicago lawyer owner responsibility Chicago estate planning Des Plaines collections attorney Rolling Meadows car accident lawyers Arlington Heights injury attorney controlled substance Illinois employment laws insurance claim delay TBI Chicago estate planning lawyer Liquor Control Act Arlington Heights Attorney Long Grove estate planning attorneys products liability rollover car crashes Rolling Meadows criminal lawyer insurance claim Illinois injury lawyer financial advisors revenge porn Inverness corporate attorney Illinois pedestrian accident attorney defective products car accident estate planning trusts boating accidents bicycle dooring accidents Arlington Heights wills and trusts lawyers Crystal Lake employment lawyer Des Plaines criminal attorney Chicago insurance law firm car accidents Illinois car accident attorney real estate Arlington Heights criminal lawyer Illinois wills and trusts attorneys personal injury attorney involuntary manslaughter federal crimes Arlington Heights employment attorney Illinois wrongful termination lawyer Palatine Attorney Mount Prospect wills and trusts lawyers hiring employees minimum wage Palatine civil litigation lawyer probate claims Barrington litigation attorney IRA trust transfer drunk driving Crystal Lake employment attorney Palatine employment law lawyer Illinois civil litigation lawyer commercial real estate Deer Park motorcycle accident lawyer Palatine punch death liability claims Fourth of July Schaumburg traffic lawyer insurance denials compensatory time Crystal Lake car accident lawyer power of attorney for healthcare insurance denial appeals texting and driving llinois Real Estate Lawyers Association defective products lawyer School Visitation Rights Act Barrington personal injury attorney college kids estate planning bike accident probate claims process Des Plaines real estate attorney Riverwoods estate planning lawyer Des Plaines Rolling Meadows traffic law firm Illinois workplace discrimination attorney Buffalo Grove corporate attorney Inverness real estate attorney homestead rights mortgage investment property slip and fall accidents Barrington business law firm employment lawyer independent contractor life insurance claims traffic violations denial of life insurance Rolling Meadows marijuana attorney pedestrian accidents Des Plaines drug lawyer Illinois employment law attorneys home inspection lawyer Illinois insurance claims lawyers insurance adjusters DGAA eluding a police officer underfunded trust car collision Des Plaines pet law attorney Kenilworth estate planning lawyer rent to own real estate contracts Illinois employment law pedestrian injuries, pedestrian fatality Illinois trucking safety medical research truck collisions pedestrian-automobile accident Chicago car accident lawyer Buffalo Grove personal injury lawyer medical marijuana Crystal Lake medical malpractice attorneys Inverness accident lawyer IRS bad faith insurance claims trust payments rumble strips Inverness traffic law firm insurance attorney Schaumburg real estate lawyer Barrington criminal lawyer attorney fees Crystal Lake injury attorney Self-Directed IRA Accounts boating DUI wrongful termination, employment law, whistleblower protections, Illinois employment laws, discrimination in the workplace Employment Discrimination Law unpaid assessment Schaumburg corporate attorney brain injury digital evidence trucking accidents Legal Info sole proprietorship Home Sale Contingencies reckless homicide Arlington Heights medical malpractice lawyer Buffalo Grove probate lawyer car accident lawyer Rolling Meadows criminal attorney Long Grove estate planning attorney overtime violations Rolling Meadows personal injury lawyers Palatine employment lawyer Crystal Lake car accident attorney modern family estate planning Barrington employment law firm slip and fall Schaumburg personal injury attorney small business Crystal Lake business law attorneys Illinois insurance lawyer health insurance dispute Attorney Ken Apicella new real estate form Illinois medical malpractice claim real estate attorneys Schaumburg drug defense lawyer estate planning attorney Kenilworth estate planning attorney Illinois collections attorney employment law, Illinois employment laws Illinois workers compensation attorney Illinois estate planning attorney underage DUI Schaumburg injury lawyer swimming pools Des Plaines claims law firm drug crimes lawyer Palatine law firm Arlington Heights Traffic Lawyer Illinois defective products attorney Illinois LLC creation Mount Prospect real estate lawyer denied insurance claim Illinois will lawyer Illinois Smoke Detector Act Retaliatory Discharge Schaumburg probate attorney Rolling Meadows tax attorney South Barrington real estate lawyer first degree murder Arlington Heights car accident lawyer Schaumburg employment attorney medical malpractice Schaumburg criminal attorney motorcycle accident lawyer Arlington Heights wills and trusts lawyer blood alcohol content Deer Park real estate law firm wrongful termination low-ball insurance settlement PTSD Illinois personal injury lawyers real estate zoning Illinois registered agent murder charges Illinois speeding lawyer Inverness estate planning lawyer Illinois personal injury Rolling Meadows personal injury lawyer residential real estate Illinois estate planning life insurance lawyer Affordable Care Act hit and run accident Des Plaines tax law firm Illinois traffic attorney deed transfer Deer Park personal injury lawyer traffic accidents taxes commercial leases BAIID Illinois insurance claim dispute lawyers foreclosed rental property real estate closing Rolling Meadows insurance attorney unpaid overtime Illinois law Palatine employment attorney Illinois criminal defense attorney criminal law drug possession workers compensation benefits digital assets, digital fiduciary, estate planning, digital content, Long Grove estate planning lawyers Illinois trusts attorney creditors Long Grove wills and trusts attorneys Crystal Lake accident attorney Illinois medical malpractice lawyers Deer Park workers compensation lawyer personal injury dog bites condo association trauma after an accident Crystal Lake medical malpractice lawyer blended families loopholes Schaumburg wrongful death attorney Crystal Lake pet attorney Forcible Entry Illinois medical malpractice case Barrington attorney Colin Gilbert Chicago traffic lawyer traffic offenses probate lawyer estate planning, digital assets, Revised Uniform Fiduciary Access to Digital Assets Act, Illinois digital assets, Illinois estate planning, Des Plaines personal injury lawyer Barrington civil litigation attorney Palatine trusts lawyer Crystal Lake traffic lawyer fault based insurance Rolling Meadows probate lawyer traffic tickets Rolling Meadows estate planning attorney Des Plaines motorcycle accident attorney Crystal Lake will lawyer BUI Illinois insurance attorney digital media accounts, estate planning, Arlington Heights estate planning attorney, Illinois Human Rights Act Illinois business lawyer Rolling Meadows drug defense attorney Illinois workplace lawyer rollover accidents Mt Prospect Attorney Jay Andrew drunk driving statistics trench injuries drugs Palatine drug lawyer Rolling Meadows insurance dispute lawyers, insurance dispute Barrington employment law attorney Illinois rollover accident lawyers spinal cord injuries Whistleblower Claims Arlington Heights pedestrian accidents natural gas Inverness probate lawyer bicycle accidents Barrington estate planning attorney sexual images Barrington criminal defense lawyer pizza emoji landlord trustee IRA benefits Arlington Heights employment law attorneys foreclosure Crystal Lake traffic attorney healthcare claims living trust benefits forming a corporation in Illinois pet bites Rolling Meadows employment attorney healthcare Illinois probate lawyer advance healthcare directive Buffalo Grove real estate attorney Kenilworth estate planning attorneys driving Des Plaines accident attorney Barrington injury attorney insurance claims golf accidents Arlington Heights car crash attorneys insurance negligence estate planning, death tax, succession plans, business estate plans, Barrington estate planning lawyers liens Deer Park employment law attorney Buffalo Grove insurance claim dispute lawyers Colin H. Gilbert Long Grove real estate attorney Illinois attorney Chicago employment attorney institutional trustee guardianship attorney Schaumburg Attorney Joliet general practice lawyers Rolling Meadows litigation lawyer Barrington Traffic Lawyer income distribution deducation unfunded trust fiduciary rule Illinois business law atorneys installment contracts trucking accident lawyers caretaker rights Illinois bicycle safety head on collisions Illinois driving without license Illinois employee rights attorney. gift tax exemption, estate planning, estate planning strategies, Illinois estate planning, South Barrington estate planning attorneys Arlington Heights wills and trusts attorneys Schaumburg estate attorney Crystal Lake estate planning lawyer Illinois lawyer suspended license preventable medical errors Illinois DUI attorney Illinois insurance claim attorney Schaumburg civil litigation attorney special needs trust distracted driving accident victims Barrington personal injury lawyer Arlington Heights insurance attorney work unions Illinois real estate Barrington medical malpractice lawyers pain and suffering crossover accidents Barrington Illinois estate planning lawyer Schaumburg criminal law attorney Crystal Lake bike accident lawyer Super Mario wage theft jet ski accidents Schaumburg personal injury claim Des Plaines drug crimes lawyer whistleblower protections Illinois insurance dispute lawyers Family Medical Leave Act Arlington Heights lawyer Illinois mortgages probate process cell phone Mount Prospect elder law attorney Buffalo Grove traffic attorney Des Plaines personal injury attorney Illinois preventing accidents social media after death privacy car crash injuries Des Plaines insurance attorney insurance disputes Chicago corporate attorney distracted driving accidents Crystal Lake personal injury attorney Crystal Lake employment law attorney Deer Park traffic accident attorney Palatine corporate attorney insurance claim denials appealing an insurance claim Des Plaines medical malpractice attorney Palatine personal injury lawyer commercial leasing workplace sexual harassment Crystal lake insurance dispute attorney civil litigation attorney pet law Illinois red light cameras Illinois motorcycle accident lawyer Illinois Sales Representative Act Palatine business attorney Arlington Heights tax lawyer Crystal Lake pedestrian accident lawyer power of attorney Rolling Meadows employment law attorney Illinois pet lawyer hands free device agent holiday statistics Thanksgiving Do Not Resuscitate Illinois living will child safety Illinois employment law attorney wills and trusts employment contract pregnant women living trust vs will insurance agents traumatic brain injuries personal injury claims sexual harassment tax attorney drug crimes Barrington employment attorney DNR jet ski auto accidents employment law Rolling Meadows DUI lawyer Arlington Heights wills and trusts attorney murder defense Deer Park medical malpractice attorney comp time employment contract, employment law, employment at-will, Deer Park employment law attorneys, contract, Rolling Meadows boating crash lawyer elder law Arlington Heights personal injury attorney breathalyzer test Illinois traffic ticket lawyer Illinois wills and trusts Schaumburg estate planning attorney Palatine construction attorney Crystal Lake law firm Palatine probate lawyer fiduciary rule delay Illinois Workers’ Compensation Commission Inverness elder law lawyer internet insurance dispute, insurance dispute lawyers, insurance claim denial, insurance claim delays, Rolling Meadows insurance dispute attorneys Inverness insurance attorney Illinois employment lawyer Illinois small business Deer Park accident attorney Exclusions Chicago trucking accident attorney license reinstatement medical malpractice compensation Chicago employment lawyer license suspension condo traumatic brain injury field sobriety test boating under the influence Palatine traffic accidents Illinois employment law firm irrevocable trust CAM employment attorney employee discrimination Illinois insurance claim dispute lawyer real estate contract Des Plaines civil attorney caregiver employee misclassification Illinois elder law attorney BAC Illinois real estate lawyer Fair Labor Standards Act Buffalo Grove injury lawyer severance agreements DMV expungement probate Policy Cancellation Arlington Heights traffic attorney changes to mortgage law estate attorney icy parking lots civil litigation DUI defense Deer Park traffic lawyer life insurance Buffalo Grove law firm Palatine civil attorney insurance agent negligence criminal Illinois traffic laws personal injury accidents Buffalo Grove car accident lawyer surgical mistakes IRELA Inverness injury lawyer mass shooting uninsured motorist Illinois boating accident lawyer Buffalo Grove personal injury attorney POA DUI Palatine criminal defense lawyer Detainer Actions Rolling Meadows medical malpractice lawyers Des Plaines personal injury lawyers natural gas explosion Federal Food Drug and Cosmetic Act Palatine estate planning lawyer personal injury law firm medication errors Rolling Meadows corporate lawyer traffic crimes Inverness personal injury attorney Palatine real estate lawyer product liability Crystal Lake tax lawyer Illinois workers compensation lawyer Arlington Heights TBI attorney Crystal Lake civil litigation lawyer Crystal Lake criminal defense attorney FSLA digital assets Buffalo Grove medical malpractice lawyers in terrorem provision estate tax marijuana accidental death benefits drug crime Inverness real estate lawyer traffic violations defense Rolling Meadows personal injury attorney Barrington boating accident attorney job lawyers wrongful death federal regulations for LLCs Des Plaines Traffic Lawyer overtime pay Inverness civil lawyer license revocation Illinois Wage Payment and Collection Act Crystal Lake personal injury lawyer cell phone tower data underinsured motorist Schaumburg medical malpractice lawyer Barrington real estate lawyer Illinois traffic accident lawyer car crash digital information Schaumburg employment law attorneys Illinois employment attorneys Arlington Heights personal injury lawyer consent to a search ken apicella Palatine workers compensation lawyer Schaumburg personal injury lawyer marijuana crimes attorney problem employees paid sick leave GM ignition switches Illinois Transfer on Death Instrument motorcycle accident Palatine elder law attorney Schaumburg construction accident lawyer car accident lawyers trusts wills Chicago will attorney, social media platforms, Illinois estate planning lawyer, construction accidents, personal injury, wrongful death, Arlington Heights personal injury attorneys, workers' compensation Illinois personal injury lawyer employee rights civil rights violation estate plan right to work vacation home fines Illinois traffic attorneys Illinois home inspection Illinois Probate Act of 1975 real estate leasing Class A misdemeanor Transfer on Death Instrument business litigation Rolling Meadows accident lawyer texting while driving medical malpractice, missed diagnosis, delayed diagnosis, medical mistake, Deer Creek medical malpractice lawyers Food and Drug Administration's Food Safety Modernization Act senior citizens DUI penalities Illinois corporate lawyer corporate law license no contest clauses insurance claim dispute Illinois medical malpractice attorney Illinois personal injury attorney

Archive