While a living trust may avoid the expense of guardianship in case of your future incapacity, a durable power of attorney is a more simple and less costly alternative to achieve the same goal. Attorneys charge from 3 percent to 10 percent or more to probate your estate. If your family wishes to hire the services of an attorney to as sist with a probate, your family may agree upon a reasonable attorney fee. That fee may be based upon an hourly charge or upon a percentage of your estate. Re cent studies by the University of Montana indicate that an average fee, if measured by a percentage, is less than three percent of the estate.
Probate takes years to complete.
Misleading and very unlikely. There are rare circumstances where families and others clash for an extended period of time after a death. Such disputes can cause delays in the administration of either a probate or a living trust. In o ther circumstances, disputes with the Internal Revenue Service can cause delays. However, in most circumstances the administration of a living trust is no more time efficient than the administration of a living trust.