Estate administration typically requires knowledge in three areas of the law. That’s why a law firm that focuses only on all three areas should be used to assist the executor or administrator.
First, it requires experience in completing the forms used by the Register of Wills and Orphans’ Court. Having handled hundreds of estates, completing the proper forms is routine for us, and most often handled by an experienced paralegal, with a billing rate much lower than an attorney’s.
Most importantly, a background in income, estate and inheritance taxes is crucial. With proper tax planning, thousands in income and estate taxes could be saved. In addition, typical estates own real estate. Since we are also real estate attorneys, developers and investors, there is no one more suited to the task of helping with a real estate transaction.
Finally, almost any law firm will agree to handle an estate, taking a percentage of the value of the estate as their fee. This bears no correlation whatsoever to the work required; in fact, it’s rather unfair. Consequently, by choosing a well-rounded, experienced firm that charges hourly, your heirs will save taxes, time, and therefore, a great deal of money.
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