How Much Does an Estate Planning Lawyer Charge?

An estate planning lawyer does not charge a set fee. In some cases, attorneys will only charge a flat fee for a basic package, including a will, trust, and power of attorney. This can change. Some attorneys don't offer these services, and others may ask for a partial retainer before starting work. Before signing any contracts, it is best to inquire about the fees.

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. An estate planning attorney may recommend a basic living trust if you require a simpler plan. A lawyer may charge less if you need a more comprehensive plan.

An estate planning lawyer might offer a flat fee in addition to hourly rates. Flat fees offer clients certainty and are advantageous. 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 can cover the full cost of creating an estate plan. Some retainers are half the cost or more. Some firms offer free consultations.

A flat fee is the standard fee for estate planning and administration. An attorney may quote a single price for a simple will and 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. If you have a small estate, a flat fee may be an option. However, an hourly rate is a good choice for simple wills. However, it will be well worth the extra cost.