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. 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. 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. Flat fees offer clients certainty and are advantageous. Flat fee agreements can include a fixed number of meetings, or the number required to amend 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.

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 may cover all costs associated with creating an estate plan. Some retainers are half the cost or more. Free consultations are offered by some firms.

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. 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.