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. 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. These flat fees are advantageous because they give clients certainty. Flat fee agreements can include a fixed number of meetings, or the number required to amend important documents. Some lawyers will charge a flat rate based on the number of documents that you need. 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. The average cost of an estate planning attorney's services is $200 to $5,000. However, this can vary depending on your specific situation. Some attorneys may require a retainer before beginning 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.

A flat fee is the standard fee for estate planning and administration. 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. Flat-fee plans are the norm for most lawyers. This means that the fee will not change if you have multiple 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. 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. It will be worth the extra money, though.