Estate Planning Cost

How much does estate planning cost?

An attorney who is well versed in estate planning is essential when considering this vital part of life, and anyone with a serious amount of assets or a decent estate will want to consider an estate planning service. The procedure is to analyse all of your assets in order to deduce the value and worth of such, and to work out how to use the equity involved to make sure you live a comfortable life and that those who survive you are met with the least costs and taxes on inheritance. Costs for estate planning can differ considerably with the size and complexity of each case.

General Cost

• As each individual case will be considerably different there is no way of saying what setting up your estate planning procedure.
• For a general idea you could be looking at a basic fee of between $1000 to $5000 for the process of sorting out the value of estate and preparing all the required legal papers and advice.
• The above costs are for a simple case and include all the required paperwork, yet for more comprehensive assets the cost could be considerably higher.
• The process should also appoint a power of attorney to administer your estate, determining who is responsible for the administration of the estate or assets involved.
• Estate planning can be used to ensure that you are covered for your health in the future, how your assets can be best used to provide a comfortable life for you in old age and a number of other considerations that you may wish to include.

Extra Cost

• Business and extensive assets may be subject to complex legal procedures that will need to be added to the overall cost.
• Additional consultations with your attorney will also be charged at their given hourly rate.

Tips

• There is plenty of information on the subject on the internet – check www.findlaw.com for example.
• You can purchase books and online guides to creating a do it yourself estate planning procedure for a few dollars.
• Make sure your attorney is up to date with recent changes – which happen all the time – in the law.

Shopping

• Check a number of attorneys for their fixed rates.
• Visit www.aaepa.com/attorney_listing.aspx to find qualified and licensed attorneys in your area.
• Ask around friends and family for advice and ideas.

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