How much does a probate attorney cost?
Updated: March 7, 2024
While grieving the loss of a loved one, the last thing you need is stress and confusion about the cost of hiring a probate attorney. As an estate planning attorney with extensive probate experience, I am upfront about my fees, and I want all my clients to make an informed decision before hiring me.
Although it takes time and effort, I recommend shopping around and obtaining information from a few different attorneys before you make your final decision. That way you’ll find an attorney who fits your budget and work style.
If you’ve been appointed executor of an estate, you should know what kind of fees to expect. This article provides an overview of what probate attorneys in Iowa charge for fees. Check out the final section for a list of questions you should ask the probate attorneys you’re considering for Iowa probate.
Why attorneys are vague about fees
Attorneys who represent the executor of an estate are paid a fee for legal services. An attorney may not provide the exact cost upfront for fear of underestimating their time and being undercompensated for their work. On the flip side, they don’t want to overestimate their time and scare away a potential client with a high estimate. The result is vagueness about Iowa attorney fees in probate.
Probate statutory fees in Iowa
Iowa law states the following requirements for attorney fees, based on the size of the estate. (Not sure what qualifies as a small estate? I explain the difference in this recent article.)
Small estate ($200,000 or less): Attorneys are able to bill either (1) reasonable fees as approved by the court; or (2) as agreed to in writing by the personal representative prior to filing the inventory. Source: Iowa Code Section 635.8(4)
If you file an objection with the court before the estate closes, you can contest the fees. But if you don’t learn what you’ll be charged until after the estate closes, you have no recourse to negotiate.
Regular estate (greater than $200,000): Attorneys are able to bill up to two percent (2%) of the gross assets of the estate (not including life insurance proceeds, unless payable to the estate). Sources: Iowa Code Section 633.197 and 633.198.
Note that the gross assets used for this calculation do not take into account the debts of the deceased individual. For example, if the homestead is valued at $250,000 but has a mortgage of $200,000, the amount used to calculate attorney fees is still $250,000.
In addition to the two percent, an attorney can apply for extraordinary fees under Iowa Code Section 633.199. The fees for extraordinary services may include, but are not limited to: real estate sales, tax issues, non-probate assets, disputed matters, and the disposition of unusual assets.
Does that make your stomach turn? It should, because it can mean open season on your loved one’s assets.
Average hourly rates for attorneys in Iowa
Lawyers in Iowa may charge up to $431 per hour, depending on the type of law. For estate law, the average hourly rate in Iowa is $238. Source: Clio
Calculate Iowa probate attorney fees (Iowa Code 633.197)
Determine the total value of the probate assets
Subtract $5,000
Multiply by .02
Add $220
For example, if the estate’s gross value was $250,000, the statutory fee would be $5,120. If the attorney’s hourly rate is $225, it would take 23 hours of work to account for that $5,120 fee. However, an estate with one or two assets rarely requires that much time.
Unfortunately, the statutory fee that the attorney charges may be significantly higher than their hourly rate. Plus, remember that the attorney can also apply for extraordinary fees, as mentioned above.
My commitment to transparency
When I started my practice, I promised I would always be transparent about my fees. From opening day in 2013 until today, I have posted my attorney fees on my webpage.
As of 2023, Hope Wood JD has flat fees for Iowa probate cases. Prior to signing a fee agreement, you will know the exact amount that will be charged for the case. After you meet with Hope Wood JD for a probate consultation, you will receive a fee agreement that includes a scope of work for legal services. The scope of work is specific to the facts of your case and each legal service is itemized so you know the exact cost for each legal service.
Free consultations
As an executor or potential executor, the consultation is complimentary. Start the process with Hope Wood JD by completing the pre-consultation intake form at this link. There are circumstances when an intake is not approved for a consultation. This is often when there is a Will contest, disagreement among heirs or if court-supervised probate is not needed. You will receive a response to your intake about whether you are approved for a consutlation.
Questions to ask an Iowa probate attorney
As you do your research, make sure to ask your potential attorney these questions during your interview/consultation:
When are you available to file the petition for probate?
How long did your last three estates take from open to close?
When do estates take longer to close?
How many years have you been practicing in probate?
How do you charge for your services? Hourly? Percentage of the estate? Does it depend?
Do you provide an itemization for your services, even if you are paid a percentage of the estate?
Do you offer a flat fee for your services?
Can I have an agreement in writing about fees before appointing you as my attorney?
What to do next
Have additional questions? Contact Hope
