How much can a lawyer charge for looking after an estate?
There are rules that set out how much lawyers can charge for representing an estate. The fees allowed depend on the value of the estate. For an estate of average complexity, the fees can’t be more than:
* 3% of the first $10,000, (subject to a minimum fee $1,500)
* 1.25% of the next $400,000
* 1% of the next $500,000
* .5% of the amount over 1,000,000
In some more complicated cases, more fees can be charged. If the lawyer is also the Executor or Administrator of the estate, then only 40% of the above amounts can be charged as legal fees, subject to a minimum fee $1,500.
Lawyers can also charge for additional services like finding a purchaser for an asset, acting on the sale of an asset.