Often, before we even get started on discussing their estate plan, clients want to know how much does estate planning cost? They want to be able to budget for it, and want to know if it is an investment they are able to make at this time.
Unfortunately, until I discuss your specific situation with you, it is very difficult to tell you what your estate plan will cost. This is because your estate plan is yours – it is individually crafted to meet your needs and goals.
When I initially meet with you as a potential client to discuss your estate plan, I will ask questions to understand you and your wishes. I will ask questions about your assets, your debts, and what you wish to happen to your assets when you pass away. I also ask about healthcare surrogates and who you want to appoint as your power of attorney. It is a fact-finding meeting. We are both getting to know each other.
Once I understand what you have and what you want to happen upon your passing, I can create a plan that will help meet those goals. At that time, I also present you with the cost of each option. After you have been presented with the options and costs, you consider them and are able to make an educated decision about which option you choose.
Most attorneys who handle estate planning matters operate in a similar way. It is difficult to share and explain investment costs with clients before everyone fully understands what is at stake. When you meet with an attorney, know that they will need some information from you before they can share what to expect for the estate planning cost in your situation.
If you need to create your estate plan, or revise your current estate plan, contact a local attorney to help you today.