The attorneys at Krause Donovan Estate Law Partners, LLC know the timelines of the probate process. They are able to work on matters so that as soon as one timeline is met, they start working on the next timeline. That allows them to get a probate done in the minimum amount of time because of their familiarity with the process. Additionally, in order to make the probate process go as smoothly and quickly as possible, the attorneys at Krause Donovan Estate Law Partners, LLC always encourage the Personal Representative to be open and honest and with all beneficiaries so there is not anyone who is out there suspicious and worried. By just simply opening up the books and being very communicative, delays can sometimes be avoided that could be caused by people contacting the court and asking for information or creating a will contest because of a distrust. Additionally, the lawyers at Krause Donovan Estate Law Partners, LLC act as a buffer sometimes between factions of the family that don’t get along. If people who don’t really trust the Personal Representative can contact their firm instead sometimes that can make things go faster than if they are trying to get in touch with the Personal Representative who may be personally not a friend. Experienced attorneys can also help resolve disputes when they arise. Being able to calmly deal with family members as a person without a bias or history is often useful. Therefore, there are a lot of ways that an experienced attorney can speed up the probate process and make it less painful for those involved.
What Are The Common Costs Involved In A Probate Case?
The costs involved in a probate case are fairly typical. The claims against the estate including any debts of the person who passed away are one major cost. Another cost is the Personal Representative’s fee and in a medium to a large sized estate that is generally the biggest cost. A Personal Representative’s fee is usually 2% of the value of a probate estate. Krause Donovan Estate Law Partners, LLC always encourages the Personal Representative to take this fee. It’s well-earned and they do a lot of work especially if they are following up on construction and giving feedback to the beneficiaries as well as cooperating in the sale of real estate, etc. The attorney’s fee can also be rather high especially in cases where there are contests such as a will contest or disputes as to who should get what in the estate. The court also has a fee based on the inventory amount. It is $2 per $1000 that goes through probate. For example, if you have $100,000 going through probate, you have to pay a $200 court fee.
Could Someone Navigate Through The Probate Process On Their Own?
We have seen people navigate through the probate process on their own and it can be done successfully. However, those are typically people who are good with paperwork, are familiar with the workings of a court and are familiar with the type of bureaucracy that happens in the probate cases. However, more often when someone tries to do these things they end up skipping a step or making a mistake. For example, I have seen people distribute money and later decide that they needed that money to pay off debts that should have been paid. This can cause a Personal Representative who makes a mistake to be held personally liable to pay the money that was supposed to go somewhere else. Therefore we come across many more people who have hired an attorney, are happy with that decision and are better off for it. There are fewer issues, the process generally goes faster and in the end, it is sometimes actually less expensive to hire a professional. When the Personal Representative hires an estate attorney, the expense all comes from the estate, and nothing comes from the pocket of the Personal Representative.
What Outcome Should Someone Expect Once The Probate Process Is Over?
The outcome of a probate case depends on what role the person had. If someone is a beneficiary then they should expect to receive an accurate inventory as well as an accurate accounting showing where all the money in an estate went. Then, if they are lucky, they are going to have either a check or a new piece of real estate, car, other assets or a combination of any of those things. For a Personal Representative, when it is all over, the individual is usually very pleased to receive the piece of paper from the court saying he or she is released as Personal Representative now that the job is done. This release gives them legal protection if someone tries to come after them for what they did as a Personal Representative.
Additional Information Regarding Probate Matters In Wisconsin
People who don’t have any type of planning typically will end up going through probate or their family members will. For more information on Expediting The Probate Process, a initial consultation is your next best step.
The estate lawyers of Krause Donovan Estate Law Partners, LLC practice law in the areas of Probate, Wills, Estate Planning, and Trusts. We assist clients in and around Madison, Wisconsin with all matters related to estate planning, trusts, and probate matters. Our dedicated attorneys will even make house calls if you are unable to come to our office.
Contact our office by calling (608) 268-5751 to schedule a consultation or use our online contact form.