What do professional executors, including lawyers and trust companies, charge to settle estates?

July 11th, 2018

Legal fees vary, depending on the method of billing the lawyer uses; some bill by the hour and others bill in a lump sum. Today, experienced estate lawyers charge $500/hour. They may use a paralegal for a lot of the administrative work and bill their time at a lower rate.

The fees of trust companies vary, […]

What is a testator?

July 11th, 2018

“Testator” is the legal term for the person who is disposing of their assets in a Will or codicil(s) at death. The word “testator” has been replaced with the word “deceased” throughout the QuickEstate™ Toolkit.

 

©QuickEstate Administrators Inc.

What do the words “dying intestate“ and “intestacy“ mean?

July 11th, 2018

The legal term for dying without a Will is “dying intestate”. The word “intestacy” means that the deceased died without a Will.

 

©QuickEstate Administrators Inc.

What is a formal Will?

July 11th, 2018

A formal Will is typewritten and formally executed, usually by a lawyer.

There are specific rules of execution for formal Wills and codicils that may vary amongst jurisdictions. Most commonly, the deceased must sign at the end of the Will and initial each page of the document in the presence of two competent witnesses. Once the […]

What is a simple Will?

July 11th, 2018

A simple Will provides for immediate distribution of all the deceased’s net assets to the beneficiaries. There is no requirement for assets to be held in ongoing trusts.

 

©QuickEstate Administrators Inc.