The High Cost of "Low Probate Fees"May 26, 2022
“Probate fees in our state are not that high.” Unfortunately, I hear this from some attorneys who focus their practice on handling probate, and probate is exactly what you get when you rely on a Last Will and Testament for your estate plan. Considering the massive attorney's fees involved in handling full-blown probate cases, there is a huge financial incentive for attorneys to just "go with the flow" of drafting Wills if it means getting more money down the road.
In this outtake from my webinar “Estate Planning… Bigger Than Beyonce” I review the costs of probate, particularly in regard to lawyer fees as opposed to court costs. Here are the startling statistics:
- An AARP study pegged attorney fees for probate at about $25 billion annually back in 1990, which would be over $50 billion in today's dollars
- Beyonce's net worth is only $500 Million
- All of Live Nation's concert revenue for 2019 (before the bug hit) was only $9.43 Billion in comparison
For the full FREE webinar, sign up at https://www.estatecrashcoursewebinar.com
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