How Much Does an Estate Planning Lawyer Charge?

There is no set fee for the services of an estate planning lawyer. Sometimes, an attorney will only charge a flat rate for a basic package that includes a will, trust, and power of attorney. However, this can vary. These services may not be offered by all attorneys. Others may require a retainer to start work. It's best to ask about the fees before signing any contracts.

The fee for an estate planning lawyer is based on the number of documents he or she needs to create an estate plan. The amount of time the lawyer spends with a client is deducted from the billable hours, so the cost will be higher in more complex cases. If you need a more basic plan, an estate planning attorney might recommend a more basic living trust. A lawyer may charge less if you need a more comprehensive plan.

In addition to hourly rates, an estate planning lawyer may offer a flat fee. These flat fees are advantageous because they give clients certainty. Some flat fee agreements may include a specific number of meetings or the number of changes to important documents. Some attorneys will charge a flat fee based on how many of those documents you require. Depending on your needs, you may have a flat fee that includes everything you need to create an estate plan.

Estate planning attorneys may charge for the time spent drafting your plan in some cases. You should expect to pay anywhere from $200 to $5,000, although this amount could be much more depending on the complexity of your situation. A retainer may be required by some attorneys before they begin work. A retainer may cover all costs associated with creating an estate plan. Some retainers are half the cost or more. Some firms offer free consultations.

Flat fees are the standard fee for estate administration and planning. An attorney might quote one price for a simple will or a typical probate proceeding. If you hire an estate planning firm, you'll also need to choose a flat-fee option. Most lawyers have a flat-fee plan, which means the fee will be the same whether you have a few or many questions.

A flat fee or an hourly rate may be charged by estate planning lawyers. A flat fee is usually cheaper than an hourly rate, but the more experience the lawyer has, the more likely he'll charge. A flat fee can be a good option if you don't have a large estate, but an hourly rate can be a good deal for a simple will. However, it will be well worth the extra cost.