Build your estate plan online! MyAdvocate is the online solution for creating and maintaining your Will and all other legally-valid estate planning documents. Click the link below to get started! -- The attorney and court involved probate process can be difficult. And heirs are sometimes misled by the attorney who wrote the will. Estate attorneys know that the real money in writing wills is not in the writing in the will, but in the probate of the will after the testator dies. Legal fees for probate typically far exceed the legal fees for the creation of the last will and testament. Some lawyer offer "as a courtesy" to their clients, to keep the client's original will. Lawyers know thta the original will must be produced upon the death of the testator. But by keeping the will, the attorney knows that the executor and heirs must "come through the attorney" to get access to any inheritance after the testator dies. Other lawyers, when drafting wills, include a provision that the attorney is appointed as the attorney for the executor or the estate. While the provision is nonbinding. the provision misleads executors and heirs into thinking that the heirs are "stuck" using the legal services of the attorney who wrote the will, and thus stuck with whatever arrangements the attorney makes up. Probate can be hard enough. Those in charge of completing it should not have to feel misled that they are forced to use the legal services of a particular attorney. For prospective law firm clients who want to schedule a free 15 minute initial phone call with Paul Rabalais, go to: This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship. Paul Rabalais Estate Planning Attorney...(read more)
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Probate is a legal process that takes place after someone's death, where their assets are distributed to their heirs or beneficiaries. Unfortunately, because of the complexity of probate laws and the vulnerability of grieving individuals, some unscrupulous probate attorneys have devised shady ploys to take advantage of their clients and manipulate the system for personal gain. In this article, we will shed light on two common probate attorney ploys that you should be aware of. 1. Overcharging for services: One of the most prevalent ploys employed by shady probate attorneys is overcharging for their services. Since most people are unfamiliar with the intricacies of probate laws, they often rely heavily on their attorney's guidance throughout the process. This puts them in a vulnerable position, susceptible to being overcharged. These attorneys may pad their bills with exorbitant fees, billing for unnecessary tasks, or inflating the time spent on the case. To avoid falling victim to this ploy, it is crucial to set clear expectations with your attorney from the outset. Ensure you have a written agreement detailing the attorney's fees and the services they will provide. It is also recommended to consult multiple attorneys to compare their rates and services before making a decision. Additionally, regularly review the itemized billing statements provided by your attorney to identify any irregularities or unjustified charges. 2. Undervaluing assets: Another shady ploy employed by some probate attorneys is undervaluing assets in order to reduce estate taxes or increase their fees. Manipulating the value of assets can have significant financial implications for the beneficiaries and the overall distribution of the estate. This could result in beneficiaries receiving less than what they are entitled to, while the attorney benefits from higher fees based on the undervalued assets. To protect yourself from this ploy, it is advisable to conduct thorough research on the value of assets independently. Seek appraisals from professionals in relevant fields to ensure accuracy. It is also recommended to involve multiple beneficiaries in the valuation process to prevent any conflicts of interest or manipulation by an attorney. If you suspect undervaluation, consult another attorney or seek legal advice to rectify the situation. In conclusion, it is unfortunate that there are probate attorneys who engage in shady ploys to exploit their clients during an already difficult time. Overcharging for services and undervaluing assets are just two common examples of these unethical practices. To protect yourself, it is crucial to be informed, set clear expectations with your attorney, and conduct independent research when necessary. Remember, probate is meant to ensure a fair distribution of assets, not an opportunity for attorneys to take advantage of vulnerable clients. https://inflationprotection.org/two-deceptive-tactics-employed-by-probate-attorneys/?feed_id=124370&_unique_id=64ce186671631 #Inflation #Retirement #GoldIRA #Wealth #Investing #Attorneyappointedasattorneyforexecutor #Attorneyappointshimselfasattorneyforestate #Findingoriginallastwillandtestament #Isattorneynamedinlastwillbindingonexecutor. #Isattorneynamedinwillbinding #Lawyerkeepsoriginalwill #Shouldattorneykeepyourwill #Shouldlawyerkeeporiginalwill #Shouldyougiveyourwilltoyourexecutor #Whereshouldyoukeepyourlastwillandtestament #Wheretokeeporiginalwill #SpousalIRA #Attorneyappointedasattorneyforexecutor #Attorneyappointshimselfasattorneyforestate #Findingoriginallastwillandtestament #Isattorneynamedinlastwillbindingonexecutor. #Isattorneynamedinwillbinding #Lawyerkeepsoriginalwill #Shouldattorneykeepyourwill #Shouldlawyerkeeporiginalwill #Shouldyougiveyourwilltoyourexecutor #Whereshouldyoukeepyourlastwillandtestament #Wheretokeeporiginalwill
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