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. This can change. Some attorneys don't offer these services, and others may ask for a partial retainer before starting work. It's best to ask about the fees before signing any contracts.

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. 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. 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. Retainers can be half or more of the original cost. Free consultations are offered by some firms.

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. Flat-fee plans are the norm for most lawyers. This means that the fee will not change if you have multiple questions.

An estate planning lawyer may charge an hourly rate or a flat fee. 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.