Estate plan costs can vary greatly depending on the individual's needs. It is important to understand the different costs associated with estate planning in order to make an informed decision. Using a worksheet to get an instant quote for estate planning services is a great way to get an idea of the cost. It is also important to review and update your estate plan regularly in order to avoid costly mistakes and ensure that your assets are distributed according to your wishes.
Your lawyer may request an advance payment equivalent to the total expected cost of drafting your estate plan. When considering the cost of estate planning, it is important to remember that it is not limited to just drafting a will. Other legal documents such as a financial power of attorney and health care proxy may also be necessary. Estate planning is a set of legal documents that detail what happens if you become incapacitated and, eventually, when you die.
Generally, you and your attorney must sign this agreement before starting to work on your estate plan. In addition to attorney fees, there are other charges associated with estate planning services such as hourly rates, fixed rates, and contingency fees. These fees are not typically included in estate planning costs. Once you have discussed the options available, interviewed an attorney, decided what legal documents are necessary for your particular family circumstances, and talked about the costs, you will be ready to get your estate plan in order.
Estate planning can be expensive but it is a worthwhile investment that can help ensure that your wishes are met and that your estate plan is properly structured and meets all necessary legal requirements. Don't hesitate to ask how much an estate planning lawyer in your area charges to create legal documents.
