Often referred to as Probate, the Succession is the process of transferring property of a deceased person to the heirs, or in the case that the deceased left a Last Will and Testament, to the legatees.
There are several ways that the succession process can be handled. The attorneys here at Bethard & Bethard, L.L.P. have almost a century of experience which will help to determine the best route for your situation.
What is an estate plan? Typically people who talk about an estate plan are talking about preparations for late life matters and/or at the time of death. The plan will be made up of a series of documents, each designed to perform a certain function, and all of them together to create the ultimate goal of the individual or family. A typical estate plan will involve a Power of Attorney, to prepare for asset management and/or medical decisions, a Living Will, a Last Will and Testament, a Trust, and/or an entity such as a Limited Liability Company (L.L.C.). The appropriate combination of documents needed will depend entirely on your current situation and your desires. We have years of experience helping set clients up with perfectly understandable and functional estate plans. Please contact an attorney at Bethard & Bethard, L.L.P. to ask how an estate plan might be beneficial for you.
- Small Succession$900.00A Small Succession is a more economical tool that is available for those who died without a will whose entire estate (assets minus liabilities) is valued at less than $120,000.00.
- Succession (non administered)$2,800.00A Succession or Probate consisting of property valued at more than $120,000, where all of the heirs are known, available, get along and are agreeable.
- Succession (administered)hourlyA Succession or Probate consisting of property valued at more than $120,000, which requires administration, whether it’s to sell property in order to satisfy debts, or where the heirs can not be found or do not get along and are not agreeable with each other, or a host of other reasons.
- Last Will and Testament$500.00This dollar value is given for what we call a “simple will” wherein the testator/testatrix (the man or woman signing the will) gives all of his/her belongings to his/her spouse or children. A more complicated will may result in an increased fee.
- Trust$750.00Simple Trust
- Limited Liability Company$350.00Sometimes a Limited Liability Company (LLC) is a perfect vehicle to carry out all or a part of an estate plan. The price given here is for what we call a “simple LLC” which is normally a family or single member LLC containing simple Articles of Organization and a simple Operating Agreement. A more complicated LLC may call for an increased fee.