Frequently Asked Questions

Estate Planning

Do I really need an estate plan?

If you own property, have children, or operate a business, an estate plan ensures your wishes are followed. Without one, state law determines how assets are distributed, it may lead to disputes, unnecessary legal costs, uncertainty, and undesirable results.

Do I need a will or a trust?

It depends on your goals, but most people should have the base documents of a will, a power of attorney, and healthcare directives. Higher net worth individuals over $1 MM should consider having what is called a pour-over will and a revocable trust and fund the revocable trust with certain assets for the ease of transition upon the grantor's incompetency or death vs. having to probate the same assets. Beyond that, trusts are necessary if they fulfill certain client goals, but they are not necessary for everyone the same way the base documents are.

How often should I update my plan?

An estate should be updated every time a major life change happens such as death, disability, divorce, birth of a child, changes in wealth, changes in philosophy, moving out of state,.... as these life changes may necessitate profound changes on your estate. That being said, it is good to review your plan every 3-5 years to make sure it is up to date or to catch costly issues before it is too late.

Probate & Estate Administration

Does every estate go through probate?

No. Assets held in trust or with designated beneficiaries may pass outside probate. Proper planning can reduce court involvement.

How long does probate take?

Probate itself to appoint an executor or administrator can be anything from a day or two to months. Most you can walk in with the right documents and walk out with Letters of Administration or Letters Testamentary, but, for example, during COVID Philadelphia County took three months minimum due to restrictions. NYC was taking even longer. In PA or NJ probate is relatively harmless and quick outside of extenuating circumstances.

How long does it take to administer an estate from start to finish?

It depends on the complexity of the estate, the assets, and any other factors. Most estates take at least nine months even if any death tax returns are filed immediately as it takes a couple of months for the taxing authorities to review the returns. Most take about one to two years, but I have seen some drag on for years especially if it is high net worth with complex assets, there is a pending IRS issue, or a pending issue with a beneficiary.

Business Transactional Law

When should I consult a business attorney?

Ideally before forming an entity, signing contracts, admitting partners, or making structural changes. Proactive legal planning reduces risk and prevents costly disputes.

What type of business entity is best?

The appropriate structure depends on tax considerations, liability concerns, ownership structure, and long-term goals. I evaluate your business objectives before recommending an entity. Usually it is an LLC taxed as a disregarded entity (one owner), a partnership (two owners), or an S-Corporation, but it largely depends on the circumstances as some entities need C-Corporation status for regulatory reasons, even though I would not usually recommend them.

Do you assist with business succession planning?

Yes, this is actually one of the areas I excel in with both a business transactional law and estate background as they go hand in hand.

Fees & Consultation

How much does an estate plan cost?

Costs vary depending on complexity, assets, and planning goals. Many estate planning matters are handled on a flat-fee basis. More complex matters may require hourly billing. We provide a clear explanation of fees before beginning work.

Do you offer flat fees?

For certain services which are more predictable like basic estate documents, deeds, and opening a simple LLC I can do a flat fee. However, matters which are more complex and less predictable are usually done on a per-hour basis.

How much is a consultation?

I usually do not charge a consultation fee. The initial consultation is for you to evaluate me and me to evaluate whether it is a matter I can or should handle. Charging for that seems excessive.

What happens during a consultation?

As stated, a consultation is for you to evaluate me, me to evaluate whether I can or should handle the matter, and to get a feel for the appropriate fee structure. I can meet in person, but many initial consultations are handled over video call and take anywhere from 15 minutes to an hour for more complex issues.