How Much Does an Estate Planning Lawyer Charge?

An estate planning lawyer does not charge a set fee. 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.

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.

In some cases, estate planning attorneys charge based on the time they spend drafting your plan. 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. Retainers can be half or more of the original cost. Some firms offer free consultations.

Flat fees are the standard fee for estate administration and planning. An attorney may quote a single price for a simple will and a typical probate proceeding. You will need to select a flat-fee option if you are looking for an estate planning company. 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. Flat fees are usually less expensive than hourly rates, but the more experience a lawyer has, the higher the fee. If you have a small estate, a flat fee may be an option. However, an hourly rate is a good choice for simple wills. It will be worth the extra money, though.