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Attorney fees for estate settlement in new york

Rev. But whenever your damages are taxable you are allowed to deduct your attorney fees. Cooperative Policy Statement #11 This new CPS permits owners of residential rental buildings in New York to test the market prior to submitting an offering plan to the Department of Law in limited The same rule would apply to attorney fees arising from settlement payments. An attorneys' contingent fee in a  10 Jul 2019 Though you might be tempted by a Hudson Valley lawyer charging a lower fee, it is important to find a lawyer with experience in New York City  Getting Awarded Legal Fees in Landlord and Tenant (or Other Types of) Litigation The Real Estate Board of New York (“REBNY”) Standard Form of Store Lease typically allows landlords' attorneys' fees as part of a settlement agreement. Each estate can face unique problems that the estate fiduciary needs to anticipate and address. The decision to accept or reject a settlement offer is for the client, not the lawyer  For all other individuals, New York State charges an Index Number Fee of $210. H. Lawyers usually use one of three methods to charge for  The cost and expense of probate in New York State creditors, a judicial settlement of the estate will likely be the estate's attorney decide whether and how to. What Fees Do Estate and Trust Attorneys Charge? Estates and trust attorneys typically charge clients in one of three ways: hourly fee, flat fee, or contingency fee. Luke's — Roosevelt Hospital Center (in re Goldstein) 430 F 3d 106, 108 (2d Circuit, 2005). 8303-a: Section 8303-a of the New York Civil Practice Law and Rules empowers a court to award costs and reasonable attorneys’ fees not exceeding $10,000 against any litigant found to have interposed a frivolous claim or defense either (1) in a lawsuit to recover damages for personal injury, property damage, or wrongful death or (a) No decree of final settlement of an executor's or administrator's account or of the discharge of an executor or administrator shall be signed unless the petition is accompanied or preceded by a copy of the letter from the Estate and Gift Tax Section of the New York Department of Taxation and Finance captioned "New York Estate Tax Discharge This is a new CPS which allows for distribution of electronic copies of offering plans after the sponsor has applied and at a purchaser's election. If you don't have an estate plan or a Revocable Living Trust, then your loved ones will be faced with An attorney can also ask for "extraordinary fees" for services rendered above and beyond those Find out about the Cost to Settle a Trust after the Trustmaker Dies What You Need to Know About New York State Taxes. Ann. right to the legal representative of the estate to bring an action for wrongful death. New York has a statuary hold‐harmless provision. Jan 17, 2020 · The official home page of the New York State Unified Court System. Either party is free to hire their own non-neutral attorney to As such, attorney fees in estate administration are perhaps some of the most strictly regulated. 4% of all sums of the next $200,000 of the estate (for an estate up to $300,000 add A + B) C. of dollars, Mr. If the court appoints the attorney, the court sets what it believes to be a reasonable per hour rate. of a case may be uncertain and the cost and time expenditure for the parties may be excessive. The New York Probate Lawyer Blog has discussed many issues concerning estate settlement. An attorney's fee not meeting this test is not deductible as an administration expense under Jun 30, 2015 · New York Court of Appeals Grapples with Attorneys’ Fees In Two Recent Cases By Daniel E. Y. Clearly, in entering the order for settlement of this case, the District Court intended to apply and comply with New York statute and rules, including provisions relevant to attorney fees. , an easement or encroachment), or your mortgage (e. Although attorneys typically charge a flat fee for a bankruptcy, some will charge an hourly rate for more complex cases, which can be as much as $500. You can use estate assets to pay the bill, before inheritors get anything. Stipulation Of Settlement Form. For estates over $500,000, the filing fee is $1,250. The attorney’s fees can be Similarly, if the losing side is ordered by the court to pay your attorney fees and costs, the amount must be included in your taxable income. Contact us for home sale, purchase or commercial deals. This role can also be filled by non-attorneys called Settlement or Title Officers. R. For example, if you received $100,000 as a settlement and then paid $40,000 in attorney’s fees, you will need to report the $100,000 as income even though you only received $60,000. New York Rules for Calculating Executor Fees or Commissions The rules regarding executor fees are somewhat complex and are presented here in a simplified manner. If your money is taxable, you will be taxed on the gross amount of the settlement. Use FindLaw to hire a local real estate lawyer near you to help you when you have real estate problems like a dispute with the homeowner's association or noise from neighbors, recording issues involving your deed (e. My brother, the estate executor, hired a lawyer to navigate the process. Dec 24, 2019 · Estate lawyers typically charge for their work in one of three ways: by the hour, a flat overall fee or a percentage of the estate. In New York, for instance, executors earn 5% of the estate if it’s below $100,000, 4% of estates between $100,000 and $300,000, 3% on estates between $300,000 and $1,000,000, 2 Oct 15, 2017 · What is a Real Estate Settlement Attorney’s Role. The lawyer will receive 40% of the settlement amount as lawyer’s fees, which is $12,000. Legal Fees. Costs start at $100 per hour for new attorneys, but standard attorney fees for an expert lawyer to handle a complex case can average $225 an hour or more. Most of the estate is cds and savings accounts with a few stocks and life insurance policies and a paid off house. We hear more than three million cases a year involving almost every type of endeavor. Katz Given the steadily rising costs of attorneys’ fees, it is not surprising that the awarding of fees has recently been the focus of numerous judicial opinions. The record revealed that the services performed by counsel over a two year period resulted in its client in receiving emergency and regular distributions from the estate, loans against her legacy, and Nov 03, 2010 · In New York, there is no mandatory legal fee schedule to be followed But no, whatever fee the attorney charges is set by the attorney unless the court appoints an attorney to oversee the estate. Mar 24, 2011 · N. Value of Estate or Subject Matter Fee Rate; Less than $10,000: $45. There were various costs and expenses that your lawyer covered totaling $4,000. New York courts are wary of deviating from the American … (3) Attorneys' fees incurred by beneficiaries incident to litigation as to their respective interests are not deductible if the litigation is not essential to the proper settlement of the estate within the meaning of paragraph (a) of this section. Some attorneys charge hourly, ranging from $150 to $350 per hour. Each option comes with pros and cons, but the percentage method can rack up quite a bill. New York estate probate attorney Bonnie Lawston,legal services focused on estate,probate, estate administration, litigation and taxation issues. Contracts will typically have cancellation rights relating to financing, title issues, engineering issues and termites, all Pennsylvania Probate Fee Schedule – Attorney Fees For Estate Settlement In PA Estate attorneys are entitled to “reasonable compensation” for their services. Would you like to sign up to an email alert when a new Moneyologist column has been  This was the highest wrongful death verdict listed in New York State in 2017. Probate lawyer fees in New York can be around $400 per hour, around $20,000 flat fee, or one-third of the estate. A new lawyer who charges $100 an hour might end up costing more than an experienced attorney who charges $300 an hour if the more expensive lawyer provides efficient service and gets better results. It’s important to know that the legal fees are charged to the estate and not the executor or administrator personally. It’s required by law in some Jun 07, 2015 · Settlement Awards Free Rent for Tenants Living in Construction. 00. 00 per $1,000 of the sale price (. These fees are often high under the circumstances because they are calculated based on the gross value of the probate assets, not the net value. Newcastle must also cover legal fees: $350,000 to the attorney general’s office and more than $6,000 to tenants who fought to Attorney fees for estate settlement will vary for  20 Aug 2016 Are you looking for something like a New York probate attorney fee It's often better to settle while you have the chance as opposed to pushing  A second arrangement for legal fees concerning legal representation on an estate is based on a percentage basis. * $40 million - structured settlement total payout, ** $15 million - final settlement $7. All fees for actions resulting in a settlement or judgment of $ 200,000 or more are subject to court approval ( N. 4 Aug 2016 The bulk of the estate has been settled to everyone's relief. Unfortunately, New York leads the nation in closing costs. If he quotes you a $5,000 flat fee and he bills his time at $200 an hour, he expects that he and his firm will spend about 20 to 25 hours on your case. Contact us to see what we can do for your legal needs. , points out that if your late relative was bad at keeping track of his or her money, you'll probably spend more in fees Under New York law, a court can direct either spouse to pay attorney’s fees, and expenses for expert fees to enable the other spouse to maintain and defend the divorce action. We hear family matters, personal injury claims, commercial disputes, trust and estates issues, criminal cases, and landlord-tenant cases. trust. Bakshlaw has thousands of satisfied customers in New York which and growing every day. According to Bankrate. 00: 20,000 but under 50,000: $215. For example, suppose you settle your personal injury case for $30,000 after the lawsuit was filed. Probate "Costs" or "Expenses" vs. Attorney fees typically range from $100 to $300 per hour based on experience and specialization. CALL (631) 425-7299. , 166 A. Therefore, should the amount of the attorney s fee calculated under subdivision (e) be less than $60, the amount reimbursed by ABC for attorney s fees would have to be $60. 3% of all sums of the next $700,000 of the estate (for an estate up to $1,000,000 add A Average Attorney Fees. Apr 12, 2020 · In addition to reading and summarizing the information in the Revocable Living Trust, review the decedent's financial documents, and make a list of what the decedent owned and owed, how each asset is titled (in the name of the trust, in the Trustmaker's individual name, as tenants in common, or in joint names with someone else), and, for assets and debts that have a statement, the value of the How much you’ll pay for real estate attorney fees depends on your market and how involved they are in the transaction, but they typically charge a flat rate of $800 to $1,200 per transaction. 3d 31 (2018) inspires us to re-examine New York’s doctrine about recovering attorney fees in litigation. Initial Consultations Are Free. The fee arrangement might be negotiable, however. D. Kaplan, by their settlement of post-judgment issues, to avoid an interim fee award to the In May 2015, the ex-wife moved for interim appellate attorney's fees and costs. In addition to the attorney’s regular fees, you should expect to be billed for miscellaneous disbursements. Private real estate attorneys, or borrower’s attorneys, are an additional and optional cost for buyers who want a specialist to assist them with contract-related issues or Albert Goodwin, Esq. This week’s New York Business Divorce has the story. The legal fee can be a set fee such as 5% of the estate or it can be a percentage based on the amount of assets collected. estate litigation, arbitration, lawyer-assisted mediation and Collaborative Law. 4% of sale price) Apr 30, 2014 · Court Rules on Mother’s Motion for Attorney Fees by Stephen Bilkis A New York Family Lawyer said in a child support proceeding, a father appeals from an order of the court, which denied his objection and granted the mother’s motion for an award of an attorney’s fee. In the end, it'll be worth every penny. Attorney's fee is a chiefly United States term for compensation for legal services performed by A contingent fee is a percentage of the monetary judgment or settlement. The Appellate Division, Second Department, last week decided three appeals in the same business divorce case, addressing important issues concerning claims for LLC dissolution, equitable buyout, and use of company monies for legal fees defending dissolution proceedings. Jun 01, 2018 · The Supreme Court erred in granting attorney fees for L. Free executor fee calculator app. Expect to pay a minimum fee of $3,000 for a lawyer to help you obtain your letters testamentary. 00 or more; Real Estate Broker Commission: 5-6% of the selling price; The outstanding mortgage payoff; County clerk fee; New York State Transfer Tax: $4. New York law therefore unambiguously holds that an attorney’s lien, once attached to the client’s cause of action, also attaches to a subsequent settlement, whether or not the attorney is Standard New York Seller Closing Costs Descriptions Real Estate Commissions – this is the obvious cost that everyone knows about but hates paying for it. Aug 21, 2018 · “If the real estate attorney is retained and involved early enough, the attorney may be able to prevent a larger dispute that could develop later in the transaction and cost all parties far more Probate attorney's fees in New Jersey are paid out of the estate's funds. Assets  12 Jun 2019 Read this article to learn more about probate lawyers fee. Browse more than one million listings, covering everything from criminal defense to personal injury to estate planning. The lower court, New York County Supreme Court Justice Deborah A. L. Such determina deals with the allocation of legal fees to nonprobate assets. 25 Sep 2003 If the claimant is a minor or incompetent, no fee may exceed 25 percent of any pre-trial settlement. May 29, 2016 · In New York, the filing fee for Surrogate’s Court also varies with size of the estate. Oct 18, 2017 · Nationwide, the general cost for a bankruptcy attorney is $1,200. 5% of all sums of money not exceeding $100,000 B. Real estate conflicts . 97, 256 N. Kinds of Fee Arrangements. Amalgamated Dwellings, Inc. This is not an uncommon scenario for many homeowners. § 508: 4-e). New York attorneys shall neither be liable in damages nor held to answer for a charge of professional misconduct because of a deposit of moneys into an IOLA account, pursuant to the attorney's good‐faith Jul 27, 2012 · What are the average lawyers fees for a New York estate valued around $1,000,000? My grandfather passed away and my mother and her only sibling are the co-executors. The court, in awarding such fees must consider the circumstances of the case and of the spouses with an eye toward making sure each spouse is properly represented. C. For further information you may contact Associate Attorney Barbara Kluger at the New York City Office. estate, and inheritance taxes, as well as attorney and court fees. consider such property in order to settle the estate properly. a $60 million offer to settle the case, and her attorneys had internally  6 Apr 2014 Reasonable attorney fees for representing estate fiduciaries as well as executors' in which the estate has been settled and the time and service required, and any An award of fees based on New York's fee statute may not  7 Sep 2018 Many websites offer services to create estate plans for little or no money. One thing I always tell people, never agree on a percentage fee. Aug 09, 2019 · In some parts of the U. In New York estate executors and administrators are entitled to fees or commissions set by law. Simkovic, Why the New York Times Should Correct Remaining Factual Errors in Its Law School Coverage, Brian Leiter's Law School Reports; ^ " Attorney  I am a NY lawyer. The probate  The estate is handled by either an executor named in the deceased person's will Probate lawyer fees, also called estate lawyer fees, are monies paid directly to consultations on new legal matters, including estate planning and other legal  Commencement of a legal action to recover a fee. New York Trust and Estate attorney Jules Martin Haas, Esq. Today’s settlement would allow the OAG to begin distribution of the nearly $3. the cost of care, and many other monetary costs as well as pain and suffering. The legislature doesn't set probate attorney's fees in PA but some Orphan's Court judges have supplied helpful precedent on what is "fair & reasonable". Expensive isn't necessarily best, either. , such as New York City and Chicago, a real estate attorney takes over the due diligence phase once a contract is signed for a property. W. Sep 30, 2013 · The executor of the estate did not oppose the application provided that the fees were charged to the beneficiary’s interest in the estate. If you are involved in a New York probate administration, you should contact a New York probate and estate attorney to help you with the process. 3d 412, 88 N. Stipulation Of Settlement. Real Estate brokers in NY will typically want to charge a commission of about 6% of the selling price of your home. S. 1) Escrow Funds of Missing Clients and Deceased Lawyers (22 NYCRR 1. Percentage of the Estate. is a New York estate lawyer who consistently achieves superior results, is widely praised by his clients and is respected in the legal community. has been representing clients in New York Guardianship Proceedings, throughout the past 30 years in New York, including Queens and Nassau Counties. Attorney Advertising | Prior results do not guarantee a similar outcome. Therefore, if an individual receives a settlement or award payment that is includible in income, any amounts allocated to attorney fees are also includible in the individual’s income. Otherwise, the cost is taken from the estate before assets are distributed to the people who inherit them. 20 Feb 2014 When settling an estate, you should anticipate costs beyond standard expenses such as attorneys' fees, commissions paid to the executor and says Harold Bollaci, an elder law estate planning attorney in Garden City, N. Attorneys Baltimore · Attorneys Washington · Attorneys New York · Attorneys Boston  1 Jan 2020 NYC & New York State Transfer Taxes: Transfer taxes are paid by Real estate attorneys in NYC typically charge you a flat fee upon the  Never settle, always hire the best legal representation you can afford. For example, if you’re handling an estate that includes a house worth $300,000, with $175,000 left on the mortgage, the lawyer’s fee would be based on $300,000—not the $125,000 of equity the estate actually owns. When you hire an attorney on behalf of the estate, get a fee agreement in writing. P. I was admitted to the New York State Bar in 1979 and opened my own law office in 1985. Learn how judges decide if fees are reasonable, and how you can object to your lawyer's request for fees. This is the case even if the defendant pays the legal fees directly to the attorney. Mar 10, 2015 · The attorney hired by the designated executor will have his or her fees paid from the underlying probate estate if said fees are approved by the Surrogate's Court. 75 percent interest rate, terms of up to 40 Feb 20, 2014 · Steve Smith, an attorney at the law firm Horack Talley in Charlotte, N. St. $22 million in legal fees on an hourly fee basis for the estate litigation. 6 million in restitution directly to the more than 8,000 New York consumers deceived by the company. … Mar 05, 2014 · New York Guardianship Attorney Jules Martin Haas, Esq. It’s no fun having to pay taxes on a damages award or settlement. 00: 10,000 but under 20,000: $75. After testing out various online sites, she settled on FreeWill because as a fund- raiser Still, he understands the reluctance to pay lawyers' fees. Estate attorneys typically charge an hourly rate, or they will charge a percentage fee based on the value of the Estate and the types of assets in the Estate. If you were paying by the hour, you could get a lot of hours of the attorney’s work for that much money. com's 2010 Closing Costs Study, New York closing costs are a little less than 3 percent of a $200,000 mortgage, or $5,623. Call and speak to an attorney: Short answer: $3,000 to $10,000, typically around $4,000. A court has held that a court review of arrangement for attorney's fees is constitutional (Prendergast v. Stat. COVID-19 FAQs - Long Island, New York Estate Planning Lawyer Apr 15, 2019 · Taxable settlements include attorney’s fees. This is a New York form and can be use in Attorneys Statewide. The legal fee can be a set fee such as 5% of  16 Mar 2014 A New York Probate Lawyer said that, submitted for decision in this responsibility for approving legal fees that are charged to an estate and has and the petition for judicial settlement of account; (k) arranging for service of  As an experienced executor fees attorney in New York will explain, a common of assets, the executor must pay estate debts, pay expenses, and settle claims. We are a Veteran Owned Business, providing 20% discounts for Veterans and First Responders. Call Law Office of Affar Baksh now and setup appointment for free Some states, like California and New York, have fee schedules written into state probate code that dictate what percentage of the estate’s assets to pay an executor. 2d 657 (1977)). The best real estate attorney in Queens, New York. Settlement costs for using a closing attorney or escrow company to handle the closing of a transaction can range from $500 to $1,500 depending on your location. For estates more than $250,000 but less than $500,000, the filing fee is $625. Mar 16, 2014 · A New York Will Lawyer said with respect to the issue of attorneys’ fees, the court bears the ultimate responsibility for approving legal fees that are charged to an estate and has the discretion to determine what constitutes reasonable compensation for legal services rendered in the course of an estate. Under a percentage fee agreement, the attorney's fees are equal to a percentage of the value of the estate. The court said that the award of witness fees in a divorce action is up to the discretion of the court and should be awarded with the showing of the services rendered and the time involved. g. In some matters the decedent may have incurred a lot of debt or other monetary obligations that must be paid out of estate funds. 18 Apr 2018 Estate litigation in the Surrogate's Court is common. The people who are contesting the will must pay their own legal fees. Need an attorney in Brooklyn, New York? FindLaw's Lawyer Directory is the largest online directory of attorneys. If you or someone you know is involved with or has questions about a New York Guardianship matter, please contact me at (212) 355-2575 or email Aug 23, 2019 · Building on sexual harassment reforms, New York State recently expanded its protections against workplace discrimination, harassment and retaliation by amending various New York laws, including the New York State Human Rights Law (NYSHRL), the New York General Obligations Law and the Civil Practice Law. Compare top New York lawyers' fees, client reviews, lawyer rating, case results, education, awards, publications, social media and work history. 15 (f), (g)) New York State Bar Association Selected Ethics Opinions Attorney Fees: ~$1,250. A probate estate with a gross value of $500,000 would generate $13,000 in legal fees. Nelson, 199 Neb. Mar 28, 2017 · You’re hit with unanticipated fees at closing. Mar 13, 2020 · Opioid Settlement Offer Provokes Clash Between States and Cities The contours of the deal, absent the new leverage controls and extra money for lawyers’ fees, the New York attorney Most residential real estate contracts in New York allow the seller to keep the down-payment as “ liquidated damages ” if the buyer decides to back out of the contract for a reason that is not allowed by the contract. Ultimately, a probate attorney's fee must be "reasonable" based on these factors; We are a Veteran Owned Business, providing 20% discounts for Veterans and First Responders. 00 to In order to avoid legal costs and fees, some divorcing couples settle their  In other words, attorneys rarely charge a fee on any settlement for damage to the Thus, I had to hire a personal representative to keep his probate estate open. While some states have laws that set the attorney’s fees, New York does not and it’s up to the client and the attorney to agree on what the fees will be. For personalized attentive estate settlement services and a free case evaluation with a New York City estate settlement attorney, you can contact me by telephone: (212) 355-2575, fax: (212) 751-5911 or e-mail 1 day ago · Under the settlement, all of Caliber’s customers in New York with an interest-only or short-term modification will automatically be considered for a 3. DWI Attorney Fees in New York State. Free Consultation - Call (212) 355-2575 - Jules Haas is dedicated to serving our clients with a range of legal services including Estate Planning and Probate cases. . 12 The New York. The title search, appraisal and any other assessments of the property are overseen by the attorney, rather than an escrow or title insurance representative. Goldstein v. New Hampshire. The attorney presiding over the settlement is a neutral role, even though in most cases the Settlement Attorney or Company is chosen by the buyer. New York. $9,000,000 settlement for the wrongful death of a man who died at a hospital as  5 Jan 2018 Willingness to settle – New York courts generally encourage the settlement of Therefore, when deciding how to divide legal fees, it's not uncommon for courts to favor the Estate Planning for Business Owners in New York. G. Get help now. Mike Saint Pre, Esq. Costs start at $100 per hour for new attorneys, but standard attorney fees for an expert lawyer to handle Simple Estate Plan, $300 – $1,500 in these situations to average around a third of the total legal settlement fees paid to the client. Our firm offers a variety of fee arrangements including  29 May 2016 Fees that are usually coupled with a NY probate case include court filing fees, The executor may be taking too long to settle the estate. 00: 50 000 but under 100,000 The Empire State has some stringent requirements on what functions a non-attorney can perform, thanks to a 2009 ruling by a New York Appellate Court. It ranges from $700 in Dallas, Texas, to $2,000 in New York City. Estate administration of large estate or tiny estates with the  19 Jan 2020 Probate can easily cost from 3% to 7% or more of the total estate value. (2) All attorneys fees approved by the court for the prosecution of the action for and distribution in the surrogate's court on behalf of the decedent's estate. Last Updated June, 2020. They are not allowed to receive direct or indirect compensation for preparing deeds, mortgages, assignments, discharges, leases or any instrument that affects real estate. A second arrangement for legal fees concerning legal representation on an estate is based on a percentage basis. Find the best real estate attorney serving Lynbrook. We also deal in mortgage refinancing and real estate litigations. , a lien or mortgage fraud). We are the best real state residential & commercial law firm. has been  28 May 2013 New York Law Journal article here; New York Appellate Division opinion here. Learn which side pays attorneys’ fees—the winner or the loser. Creditors of the Estate & Other Professionals; The decedent may have owned a co-op or a condo in which they are monthly This is especially true when there is litigation involved in the estate. represents estates, personal representatives, beneficiaries, heirs and other parties to an estate regarding estate litigation and routine estate probate matters. Section 2307 of the New York Surrogate’s Court Procedure Act sets estate fiduciary commisions are as follows: A. Protecting Yourself: Fee Agreements. A small estate can cost around $3,000. This is the “American Rule,” and it is engrained in our legal system. 940 million *** Case settled pursuant to stipulated amount of $5,000,000 The information on this website is for general information purposes only. Nov 20, 2019 · This will give you an idea of how many hours the attorney expects the firm to spend on your estate plan. In New York, your attorney will be paid out of your worker’s comp settlement or award, and a judge will have to approve the amount of fees. Generally, fees are calculated on the combined value of the assets of the estate plus income. How much  19 Jan 2020 Probate can easily cost from 3% to 7% or more of the total estate value. The other lawyer JG however, did comply with the rules (Matter of Felix v Felix 110 AD3d 805, 806). Although attorney fees are paid out of the estate, Ohio case law has established that it is the personal representative, rather than the estate itself, who is the attorney's client. Download Free Print-Only PDF OR Purchase Interactive PDF Version of this Form. on the value of the estate, the executor fees and attorney fees in New York can be  (1) Upon collection of the settlement funds and creation of an interest bearing estate. As a general rule, a party cannot recover attorney’s fees for successfully prosecuting or defending a lawsuit. Ellis, 56, turned to an online service and created a new will himself. C. Attorney Registration New York Lawyers’ Fund for Client Protection Interest On Lawyer Account (IOLA) Program Dishonored Check Reporting Rule (22 NYCRR Part 1300. This is a common question from clients involved in litigation – – especially estate litigation. attorney fees for estate settlement in new york

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