How Much Does an Estate Planning Attorney Cost? A Closer Look

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.

Flat Fees

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.

Hourly Billing

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.