If you are concerned about how your money and property will be handled when you pass away, or if you have children who you want to make plans for just in case something happens, then you might have already decided to work with an estate planning attorney. If you're curious about how much it will cost, you should know that there are a few different factors that go into the pricing of these types of legal services. These are some of the things that impact the cost of estate planning.
How Complicated Your Estate Plan Is
First of all, be aware that some people's estate plans are a lot more complicated than others. If you have a lot of assets and a lot of money in the bank, then your case might be a bit more complicated. If you want to designate multiple beneficiaries, then your case might be more complicated and more time-consuming. If you have minimal assets, on the other hand, your estate plan might be pretty simple for an experienced attorney. In many cases, the complexity of a person's estate plan can have a big impact on the legal fees that they are charged. This makes sense since an attorney will have to put a lot more time and effort into drawing up a complicated estate plan for a client.
How Much Work You Have Already Done
You might have already done some of your estate planning work. You might already have a life insurance policy in place, and you might have already named your beneficiary for it. You might have already done a will, and you might just simply need to have it looked over by a legal professional. If this is the case, then your legal fees might not be too expensive. If you need to have your estate plan drawn up from scratch, on the other hand, you will probably have to pay a little more for services.
The Attorney That You Hire
As is the case with many services, the cost of your estate planning attorney's services will depend on the attorney and their law firm. Some lawyers do offer affordable estate planning services, while others charge much more. Some attorneys charge by the hours, while others charge a flat fee for performing certain services. Luckily, many estate planning lawyers do offer free consultations, so it's possible for you to compare pricing before selecting an attorney.
Reach out to an estate planning attorney today for more information.
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