Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Changing attorneys when handling an estate
Old 06-18-2018, 12:44 PM   #1
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: No. California
Posts: 1,632
Changing attorneys when handling an estate

My Father just passed away last week and I am the executor of his estate, and also a Trustee on his two financial accounts. I do not live in the county where he lived, so the attorney who wrote the trust and settled my Mothers estate 4 years ago is not convenient to me since he is where my Dad lived. It's only a 3 hors drive though....

My parents had an AB trust. The B (Mom's) trust has not been distributed so will be part of what I am distributing when the time comes.

My questions is whether it would be smarter to stick with the attorney that wrote the trust and settled my Mom's part of the trust or take it all to an attorney closer to me. I'm not sure how long it would take for a new attorney to get familiar with all the details they need to advise me.

If anyone has thoughts on this, I would appreciate them. Thanks.
__________________

KB is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-18-2018, 12:55 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Mar 2010
Location: Kerrville,Tx
Posts: 3,107
Quote:
Originally Posted by KB View Post
My Father just passed away last week and I am the executor of his estate, and also a Trustee on his two financial accounts. I do not live in the county where he lived, so the attorney who wrote the trust and settled my Mothers estate 4 years ago is not convenient to me since he is where my Dad lived. It's only a 3 hors drive though....

My parents had an AB trust. The B (Mom's) trust has not been distributed so will be part of what I am distributing when the time comes.

My questions is whether it would be smarter to stick with the attorney that wrote the trust and settled my Mom's part of the trust or take it all to an attorney closer to me. I'm not sure how long it would take for a new attorney to get familiar with all the details they need to advise me.

If anyone has thoughts on this, I would appreciate them. Thanks.

Recall that the estate probate will have to be done in the county where your dad lived. So a local attorney may know better how things in the local probate court are handled. How much face to face is really needed. In my parents case it was perhaps 2-3 meetings in total. The attorney handled the court appearance etc. (Since I lived 5 hours away). Most of the rest could be handled by phone and by forwarding documents as needed.
__________________

meierlde is offline   Reply With Quote
Old 06-18-2018, 01:14 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: No. California
Posts: 1,632
Since it is a trust, it will not need to be probated, but that is a good suggestion about different county requirements. It is in the same state, just a different county.
KB is offline   Reply With Quote
Old 06-18-2018, 01:19 PM   #4
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: On the road again
Posts: 26,414
Trusts are not subject to probate. Will the trust now be closed and all the assets distributed? If so, the trustee doesn't really need an attorney for anything. The attorney who wrote the trust should answer simple questions about the trust without charge (my experience).

Probate is only needed if there are assets outside the trust. In that case, any qualified probate attorney will do, but agree with meierlde that a local is a better choice, and you don't need to be there.
MichaelB is offline   Reply With Quote
Old 06-18-2018, 01:52 PM   #5
Thinks s/he gets paid by the post
OldShooter's Avatar
 
Join Date: Mar 2017
Location: City
Posts: 1,734
What difference does it make that he is not close to you?
OldShooter is offline   Reply With Quote
Old 06-18-2018, 04:55 PM   #6
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Location: Florence, AL/Helen, GA
Posts: 2,518
If you really get down to it, probate is where a judge gives you the executor the authority to sign for the deceased in financial matfers. Of course the probate court will want to make sure all creditors have been paid and especially that all local, state and federal taxes have been paid. If there is any real estate to be transferred or liquidated and there is no living spouse, many estates then require going through probate.

I had to probate my mother's estate only because of a lake house I inherited. We had to probate an aunt's estate (with no real estate) because of an investment partnership, and we negotiated a buyout with other partners. I just prefer to keep probate matters as simple as possible.
Bamaman is offline   Reply With Quote
Old 06-18-2018, 05:04 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 6,449
I think the local atty would be the first to tell you if he/she actually needed you there. Worth a phone call to find out. I would not change attys unless you dislike/mistrust the local one.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success Ė to be able to spend your life in your own way.í Christopher Morley.
Amethyst is offline   Reply With Quote
Old 06-18-2018, 05:35 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 14,166
I would vote to keep the attorney since I would assume the plan is to liquidate... why pay someone else to get up to speed on something that is going away soon...


You might never actually need to be in front of him/her to get the job done...
Texas Proud is offline   Reply With Quote
Old 06-18-2018, 05:56 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: No. California
Posts: 1,632
Thanks for all the responses. I will contact the existing attorney and see what he suggests.
KB is offline   Reply With Quote
Old 06-18-2018, 07:51 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 18,324
Sounds like the trust is independent of executor duties. So you don’t necessarily need to use the same attorney for both?
__________________

__________________
Retired since summer 1999. Gosh - is it really closing in on two decades?!?!
audreyh1 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Wills, MPOAs, DNRs and attorneys Amethyst Other topics 15 06-27-2016 11:22 AM
Question about handling an estate David1961 Other topics 1 03-11-2011 07:48 AM
Avoid attorneys in ER John Galt FIRE and Money 11 02-09-2005 11:14 AM
FIREcalc's handling of TIPS wabmester FIRE and Money 7 04-02-2004 01:55 AM

 

 
All times are GMT -6. The time now is 04:33 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.