Random Thoughts XII - This Thread Delivers
- Thread starter stormchaser2014
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Careful, only a psychopath would put a space before and after their periods like that.
I realize that may be your strong suit. It's Lew's also. But sometimes an unobjective eye and the right computer modeling tools can pinpoint areas of improvement and/or reinforce what you're doing already.
And by "local" I meant close by - you live on a farm, don't you?
She has no desire to learn or look at any of that stuff. I tried to work a budget, but she wouldn't even write stuff down so I could try to see where things are spent. She says its my job, so I just make it work. We have been blessed to not have major financial problems so far so it has worked. We should be fine, but I despise surprises. I have contingency plans for my contingency plans.
When they say finances are learned at an early age family wise, I can see it with her family. Her folks didn't teach any financial planning to any of the kids and they love to spend money.
I live in town 29 miles south of the farm. We used to have farmground kiddy cornered from our house but they made that new development.
No woman by the time they graduate college or at least mid 20s has any idea what their real hair color is.
There I was, driving to work this morning. I found myself behind a car that was consistently driving 5 miles less than the speed limit, swerving all over the road, and generally making the drive a pain in the ass. I looked up and the rear glass/hatchback area was festooned with collegiate decals. On the right side, one above the other, were two Tigerhawks. At the top center was a "University of Iowa". On the left side at the top was a K-State decal, and immediately below it was a damn Jayhawk. "That figures" was my conclusion.
Also, what the hell. It was as if Surly, Tuco, and Yeahbuddy had all gathered together to create some monstrous lovechild.
Also, what the hell. It was as if Surly, Tuco, and Yeahbuddy had all gathered together to create some monstrous lovechild.
Those tavern hawks start drinking early. Best to hit the roads around 10 if you can, they have usually passed out and are sleeping it off at that time.
Go to work at 10? What do you think I am, a farmer in North-Central Iowa?
No, he thinks you're a lawyer.
Yeah, I know. And maybe some lawyers get by with banker's hours somehow. This lawyer never has. I billed 22 hours one day (legitimately) during a nasty stretch. That's not to say that many other professions don't work just as hard, including many farmers in North Central Iowa.
My dear Athos, I was only rattling your cage in the finest RTT tradition. Methinks you are hard worker, indeed.
No offense was taken. I'm like anyone else. Sometimes I work damn hard. Other times, eh.
At clinic for mom. Some lady comes in all wound up because a smoker is not far enough away from the property line. I don’t care for smoke but being butt hurt because you had to come within 25 foot of one outside is a little over board.
BTW, lawman. What is normal procedure for estates. Seems most charge by the hour but one in town goes by percent value of estate. Tells people it is normal and then song and dances them. Routine for him collecting 25-30k off basic estates that involve some farm ground.
https://www.iowalegalaid.org/resource/probate-questions-and-answers
Iowa law says that attorneys and Executors can each receive $220 for estates less than $5000. For estates over $5,000, they can each receive $220 plus 2% of the amount over $5000. If the estate is complicated, a judge can order higher fees. You can also negotiate the fees to pay an attorney. If you negotiate a fee, you should do so at the time you hire the attorney. All fee arrangements should be in writing.
Like most good legal advice, the answer is "it depends". Porthos's blurb above is relevant, but not dispositive.
Are you speaking of an estate where only a will is being probated with present administration (the decedent only has a will), or a situation where there are also Living Trusts set up as part of the estate plan?
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Most of the time it’s just the will. Whether passing to spouse or kids.
Is there a charge difference in ones with trusts? I would guess there would be more hours. Not sure what the percentage one would be.
Masses question: When you talk about people your age, what range do you consider to be "your age"? Do you say +/- 1, 5, 10? I feel the older you get the range gets a little wider. I use about 7-8 years on either side of my age. Basically someone who wouldn't have kids closer to my age or be closer to the next generation down.
Well, if a Will is involved and is being probated with full administration and the estate is a regular estate (not a "small estate") then there are the statutory caps for ordinary fees mentioned in Porthos' blurb. But, first and foremost, any fees have to be approved by the Court and the overriding principle is that the Court must find that they are "reasonable".
Some attorneys take the approach saying they will charge the full "2%" amount, and then leave that open to be increased if "extraordinary services" are required. Extraordinary services might include a Will contest, sale of significant real estate assets, preparation of tax returns, etc. I take the approach that I will keep track of my time, bill at my agreed upon rate and charge what that amounts to if it is less than the applicable caps and has been approved by the Court. If the amount is more than the caps and there aren't extraordinary services involved then I charge the statutory fee.
Some folks have things set up where everything can be administered through a trust without any court involvement at all. That saves on court costs and plays well to the people who have been indoctrinated with "Avoid probate at all costs because it is an evil process set up for lawyers to make lots of money". There are some clients for whom such a Trust is definitely the better way to do things, and some for whom it is not. The statutory fee caps DO NOT apply to attorney fees for helping administer a Trust that is not subject to court supervision. Those are entirely negotiable between the lawyer and client. Some will refer to the probate fee caps as a method of determining fees for such trusts, but that is not required.
And then there are some folks who don't have a Trust, but who have things planned out where it isn't necessary to probate the Will at all. If I assist persons in those positions then the billing is an agreed upon and usually at an hourly rate. In Iowa, ownership of real estate (outside of a Trust) is one of the primary reasons why probating a Will becomes necessary.
Clear as mud?
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