How Much Does an Estate Planning Attorney Cost? A Closer Look
Are you wondering about the estate planning attorney cost but don't know where to learn more? Keep reading and learn more here.
How much should estate planning cost in Arizona? There is no doubt that talking about afterlife plans is a conversation many people try to avoid. Not only it is a difficult subject but most people are also concerned about the cost of an estate planning attorney and other legal fees. Some attorneys will have an estate planning fee sheet. Many people hesitate to create an estate plan, especially when we are young because we assume we have time to take care of these plans later.
Unfortunately, tragedies happen every day. So why put off something so important? How much should estate planning cost is the main question and why a lot of people put off this process.
If you want to learn more about estate planning and the costs associated with the service, then you came to the right place. This brief estate planning guide will go over estate planning attorney costs and who you can reach out to for more information. We talk about revocable living trust cost, and irrevocable. If you want to hire an estate lawyer we can help you as well.
Citadel Law Firm
Our prices (all prices are subject to change without notice)
- Revocable Living Trust (to avoid probate) -> $2,000;
- Incapacity Protection Plan (powers of attorney) -> $1,500;
- Last Will and Testament (with estate tax planning provisions) -> $1,500;
- Dynasty Trust Package -> starts at $5,500;
- Deed -> $500 (Arizona, North Dakota, or Colorado);
- Probate -> $3,000 to get Personal Representative (PR), hourly after PR is appointed;
Every case is unique. We recommend scheduling a free consultation below to discuss which options are best for you with one of our attorneys, even if it for your own will or just a will. We offer the free consultation because we also believe that find the right attorney for you and your family matters, price is important but it is not everything.
What Is an Estate Planning Attorney?
An estate planning attorney specializes in helping clients create important documents such as trusts, power of attorney, and wills. An estate planning lawyer will also help the deceased's family administer the trust and will and ensure that their final wishes are properly carried out, like distributing assets and taking care of minor children (using a trust). Many lawyers offer this service, but it is best to partner with an attorney who specializes in estate planning. Probate attorneys that also do estate planning are also a good option. An probate lawyer will make sure your estate planning avoids the probate process altogether.
Estate Planning Attorney Cost
Estate planning attorney costs vary based on their experience, pay structure, and geographic location. The size of the estate in question may also play a factor in the final cost of service. For example, a younger adult with an average-sized estate will require less work than an older individual with a more significant estate.
Many reputable estate planning lawyers provide free consultations because everyone's case is different. During the consultation, the attorney will ask essential questions about your goals for when you pass away. At that point, they will then be able to provide you with a more accurate quote for their estate planning services and create a strategy that is perfect for your family.
Attorney fees for estate settlement are also a very different history. Estate lawyers specialized in contested litigation are busy and expensive. Legal fees for contested matters are usually between $25,000 to $50,000. There is not such thing as cheap trust packages if you end up with a big litigation bill because your family end up fighting at the end.
Working with an estate planning attorney will cost you more than just a few hundred dollars. An experienced attorney will not just fill in the blank forms, they will design an estate planning strategy to protect you and your family, as well as your life savings and all your assets. They will also help you stay away from probate court.
How Attorneys Charge for Their Services
Estate planning lawyers do not all follow the same guidelines when it comes to setting their prices for the services they offer. One lawyer may charge a flat fee while others bill you per hour worked.
It is very common for an attorney to charge a flat fee to draft up a will and other essential estate planning documents in estate planning. A simple lawyer drafted will cost around $500 to $1,000. It is not uncommon to see a lawyer charge between $1,000 to $1,500 for a Last Will and Testament. A comprehensive estate planning package, with all the documents included, usually start at $2,500.
In this case, it won't take the lawyer too long to create the necessary estate documents, saving the lawyer and the client a lot of time. It is important to remember that an estate lawyer may not charge the same flat rate fee for each client. If one client has a smaller estate than the other, the one with the smaller estate may have a lesser flat-rate fee. Bigger estates that require strategies to protect the estate will usually require more tailor made work, so they will be more expensive.
Some estate planning attorneys bill their clients by the hour. The hourly rate will depend on the attorney's region, expertise, and training.
Lawyers in larger firms tend to charge more per hour than smaller law firms. The average hourly rate for an estate planning lawyer ranges between $300 to $700. Also estate planning litigation is usually on the higher side of the range.
It is best to obtain a free consultation from an attorney you wish to work with to see which lawyer works best for you and your financial situation.
The Importance of Estate Planning
Estate planning is vital for everyone, not just those entering their retirement age or who already have children and grandchildren. Unfortunate events happen every single day, and a tremendous disservice you could do to your family is to not prepare for the unexpected.
Creating an estate plan is the best way to let your family know of your wishes and to prepare for the unexpected. If you were to pass away suddenly, your estate plan documents would provide your family with your final wishes, which can take a huge burden off your loved ones. Estate planning is not only crucial for your afterlife wishes, but it also helps your family if you are left incapable of communicating your wishes due to an illness or injury. In case you become incapacitated it will also give your loved ones the power to make decisions for you.
Asset protection planning done by an asset protection lawyer is usually more expensive as well but it will same you a lot of money, specially if you are a lot of assets and want to do asset protection for multiple generations.
Benefits of an Estate Planning Lawyer
While there are many online resources to create your own estate planning documents, it is best to still reach out to an estate planning lawyer for help. There is nothing worse than creating your own estate plan with several errors. Estate planning documents poorly drafted may cost you less in the short term but they will open the door for estate litigation, which can cost you much more in the long term. It will also open the door for fights between family members, which we always try to avoid at all costs.
Errors in your plan could create additional challenges, such as voiding your estate planning documents. This would force your family to pursue alternative methods of settling your estate.
Accurate Legal Advice
Regardless of if it is your first time drafting an estate plan or if you want to update an existing document, you will probably have a lot of questions. When you work with an estate planning attorney, they can help you work through the legal jargon and help you focus on what is most important.
They will also make sure that your document is error-free and valid. There will be no question about the validity of your records. Your attorney will also be able to ensure that your plan is customized to your unique needs, and they can also reduce any estate taxes your family may incur when it comes time to settle.
Creating your estate plan is not only something that your family will appreciate you for, but it also enables a way for you to live out your final wishes. Partnering with a reputable estate planning attorney in Chandler is an excellent way to ensure that your family understands your last wishes. Citadel Law Firm is a local law firm, our attorneys will be pleased to help you. Call us today if you need to hire an estate lawyer.
Looking for an estate attorney near me, or an estate law attorney near me, or estate planners near me? Look no further. We can offer you an affordable estate lawyers near me, we only have an experienced lawyer. The typical attorney hourly rate at our estate law firm is $395/hour. We prefer to work on a fixed rate if we can and we are upfront about our costs. Our estate attorney are here to help you.
Contact us now if you are looking to update an existing estate plan or need help creating one. We will be your prospective attorneys. We offer affordable estate planning attorney costs and free consultations! Call (480) 565-8020 or click here to schedule your free consultation today.
Are you curious to know how much does a POA cost? A POA, or Power of Attorney, is usually part of your estate planning. The cost of POA will be part of your estate planning package. Schedule your consultation today to learn more.
Do you want to know what is an attorney fee for will preparation or the cost for will preparation? Read our article about it (click here). We can also help you with other estate planning documents.
Citadel Law Firm is was elected a "top estate planning attorneys near me" in Chandler, Arizona. Call today if you need an "estate planner near me" or an "inheritance lawyers near me". We can also help you with beneficiary lawyer near me, estate administration attorney near me, and different estate planning packages like for incapacity planning. We can help you with probate in Arizona as well. Our wills attorney and wills attorneys will be pleased to help you. If you are looking for "estate planning attorney in my area" look no further, we can help you.
Some people have questions about the difference between a trust attorney vs estate attorney. We will be happy to answer your question if you schedule a consultation. We can provide professional legal counsel to our clients only.
If you want to learn more about power of attorney cost or how much a will cost, click here. A financial power can save you a lot of money if you became incapacitated. It is probably one of the most important legal document when you are alive.