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. These services may not be offered by all attorneys. Others may require a retainer to start work. Before signing any contracts, it is best to inquire about the fees.

The fee for an estate planning lawyer is determined by the number of documents required 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. If you're looking for a more detailed plan, a lawyer can charge a lower hourly rate.

An estate planning lawyer might offer a flat fee in addition to hourly rates. 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. You may be charged a flat fee depending on what you need.

In some cases, estate planning attorneys charge based on the time they spend drafting your plan. The average cost of an estate planning attorney's services is $200 to $5,000. However, this can vary depending on your specific 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 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. 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. However, it will be well worth the extra cost.