REAL ESTATE

What needs to be done:

Purchase of Real Estate - consultation regarding transaction, review or preparation of offer; assistance with clearing of contingencies; examination of abtract; supervise curing of title objections; preparing for closing; attending closing; final title opinion after closing.

Sale of real estate - review of offer; coordination of abstract; resolution of title objections; preparing for closing; preparing deed; attending closing.

Landlord/Tenant - advising both landlords and tenants regarding residential and/or commercial leases; preparing leases; evictions; defense of eviction; farm leases.

Real estate development - advise regarding procedures; coordination with owner; engineer and government agencies; preparation of legal documents; resolution of problems; coordination of lot sales.

What it usually costs:

Title Opinions - Iowa City and Coralville city lots - $150 to $200; condominiums - $200 to $225; new subdivisions and rural areas - $300 to $500;

Purchase Agreements - $200 to $250; Deeds: $40 to $60. Full representation for sale by owner, buyer or seller: $300 to $600.

Simple leases, real estate contracts, etc. - $100 to $200.

Tax-deferred Section 1031 exchanges - direct - $300 to $400; three party - $500 to $700; deferral with trust - $400 to $900; review of others - $200 to $500

Farmstead split - $500 to $700

Other: negotiating leases, resolving land disputes, farms sales/purchases, etc. - call for fee estimate.

CORPORATIONS AND BUSINESS

What needs to be done:

Consultation regarding choice of entity among sole proprietorship, partnership, limited partnership, limited liability company, subchapter-S corporation, subchapter-C corporation.

Formation of entity chosen.

Agreements regarding ownership, lifetime transfer and death transfer of interest in entities.

Buying and selling new businesses and assets.

Tax elections and filings. Organizational minutes, documentation and annual maintenance of the entity.

Business contracts, commercial leases, etc.

What it usually costs:

Basic business entity setup - $500 to $1,000.

Buy-Sell Agreements - add $300 to $500.

Simple business purchase or sale - will usually cost less than $1,000.00.

Annual legal fee maintenance - around $100.

Other business representations - call for fee estimate.

PROBATE, WILLS AND ESTATE PLANNING

What needs to be done:

Probate during life - guardianships and conservatorships for the elderly, disabled or minors; powers of attorney; filing claims in probate.

Probate after death - assist survivor to handle probate process; serve as attorney to estate, litigate probate claims, prepare tax returns and assist in disposition of assets.

Estate Planning and Will Preparation - consultation regarding disposition of property, both during life and after death; preparation of trusts, wills and other transfer documents to carry out intended action; prepare living wills; health care powers of attorney.

Tax Planning - provide tax advice on forms of disposition of property.

What it usually costs:

Simple Will- $100 to $300; trust for children - $150 to $350; non-tax detailed disposition - $150 to $300;

Will requiring tax planning - $500 to $1,000;

Revocable Living Trust with minimum tax planning l- $750 to $2,000; complicated estate plan - $1,000 to ?

Guardianships and conservatorships - uncontested - $500 to $900; standby - $200 to $400; contested - $750 to $2,000; power of attorney - $50 to $100.

Probate administration - non-probate consultation with surviving spouse - $300 to $600; estate under $675,000 - usually statutory fee of approximately 2% of gross estate; over $1,000,000 - agreed upon fee of 1% to 2% of gross estate.