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When it comes to protecting your legacy and ensuring your wishes are honored, estate planning is essential. But one common concern people have is: How much does estate planning cost?
Estate planning costs can vary widely depending on the complexity of your plan, the attorney you choose, and their billing method. Understanding the billing options and what each covers will help you make the best choice for your needs — and your budget.
Fixed Fees vs. Hourly Fees: What’s the Difference?
Fixed-Fee Estate Planning
With a fixed fee, you pay one upfront price for the entire estate planning service or package. This means no surprises—just one clear, agreed-upon cost covering all the essential work.
Why Choose Fixed Fees?
- Budget-friendly: Know exactly what you’ll pay before the work begins.
- Peace of mind: No unexpected bills or hours adding up behind the scenes.
- Efficiency: Encourages focused, comprehensive planning without concern for billable hours.
Our firm specializes in offering transparent fixed-fee estate planning packages starting at $2,500. This allows you to plan your estate confidently, knowing the costs won’t escalate unexpectedly.
Hourly (Non-Fixed) Estate Planning
Alternatively, some attorneys charge by the hour. With this approach, you pay for the actual time the lawyer spends on your case.
What to Expect With Hourly Billing:
- Flexibility: Useful for very complex estates or ongoing legal services.
- Variable costs: Final charges depend on how much time your plan requires.
- Potential for surprises: Without clear estimates, bills can add up quickly.
Hourly billing may be appropriate for complicated estates or when ongoing legal work, like trust funding or administration, is expected.
What Does an Estate Plan Include? And How Much Does It Cost?
Estate plans vary in complexity and features, which directly affects cost. Here’s a breakdown of typical components and their average fixed-fee cost ranges:
1. Basic Estate Planning
What it is:
This includes essential legal documents that ensure your wishes are followed if you become incapacitated or pass away.
- Will: A legal document specifying how your assets and property will be distributed after your death. It can also name guardians for minor children.
- Power of Attorney for Property and Healthcare: Grants someone you trust the authority to manage your financial and medical decisions if you become unable to do so yourself.
- Advance Healthcare Directive: Sometimes called a living will, it details your preferences for medical treatment and end-of-life care.
Average Fixed Fee: $800 – $3,000 for individuals, $1,000 – $4,000 for couples.
Ideal if you want to cover the essentials and protect against incapacity without trust or complex arrangements.
2. Trust-Based Estate Plans
What it is:
Trusts are legal arrangements where assets are transferred to a trustee to manage on behalf of beneficiaries. Trusts can help avoid probate, provide control over when and how assets are distributed, and protect assets from creditors or taxes.
- Outright Distribution Trust: Transfers assets directly to beneficiaries without conditions.
- Structured Distribution Trust: Allows you to set conditions or schedules on how and when beneficiaries receive their inheritance.
- Advanced Planning & Creditor Protection: Includes strategies to shield assets from creditors, lawsuits, or minimize estate taxes.
Average Fixed Fee: $3,500 – $8,000 depending on complexity and whether it’s for an individual or couple.
Trust plans may require some additional hourly fees for trust funding after drafting.
3. Complex & Taxable Estate Plans
What it is:
These plans serve clients with large estates that may be subject to federal or state estate taxes, involve complex family or charitable giving arrangements, or require sophisticated tax planning. They often include multiple trusts and specialized documents tailored to protect wealth and reduce tax burdens.
Average Fixed Fee: Starting at $12,000 plus hourly charges for trust funding and ongoing administration.
4. Special Needs Trusts
What it is:
Special needs trusts are designed to provide financial support to a beneficiary with disabilities without jeopardizing their eligibility for government assistance programs like Medicaid or Supplemental Security Income (SSI).
- Standalone Special Needs Trust: A trust created solely to benefit the disabled individual.
- Special Needs Trust with full estate plan: A trust included as part of a comprehensive estate plan covering all your estate planning needs.
- Standalone: $4,000
- With full estate plan: $2,000
Why Fixed Fees Make Sense for Estate Planning
Families prefer fixed fees because they:
- Remove financial guesswork from the estate planning process
- Encourage thorough planning without concerns about rising hourly costs
- Offer transparent, upfront pricing tailored to your needs
Our firm is proud to offer fixed-fee estate plans that cover everything from basic wills to advanced trusts. We work closely with you to ensure your plan matches your wishes and budget.
What’s Next? How to Get Started with Your Estate Plan
- Assess your needs: Consider your family, assets, and goals.
- Choose the right plan: Basic will, trust-based, or advanced plan.
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- Read our latest estate planning blogs for more insight into the right path forward: {Read}
- Talk to us: We’ll explain your fixed-fee options and help you find the best fit.
Contact Us Today for Transparent, Fixed-Fee Estate Planning
Don’t let uncertainty about costs delay protecting your legacy. With our fixed-fee estate plans, you get clear pricing, expert guidance, and peace of mind.
Reach out today to schedule your consultation and take the first step toward a secure future for you and your loved ones.
