There are a lot of options out there when it comes to estate planning and they cover the entire spectrum when it comes to price. Most people do not know how to evaluate the cost of an estate plan other than on the quoted price which may range for a less than $100 to many thousands.
One of the more frequent questions that we receive from new or prospective clients, is how much do we charge for an estate plan. It is a question that I have thought a great deal about because the truth is that the price ultimately charged is a reflection of the choices the client makes during the planning process.
It’s something like a steak dinner. We could make a trip to the local butcher and ask for a steak. The butcher will ask us what cut we want. A New York strip? A filet mignon? How about skirt steak? The butcher might ask whether we want USDA prime beef or a lesser quality cut. That is a lot of choices for just a steak. We could choose to go out and order our steak at a restaurant but even then the price will vary wildly depending upon whether we are eating at a family-style restaurant or a high-end steak house that specializes in dry-aging their USDA prime beef.
How Much Does an Estate Plan Cost?
So many prospective clients have asked us about the cost of estate planning that we wrote a report – “What Should an Estate Plan Cost?” In that report we explain something about our process and why it will take a little longer and cost a little more to plan with us as opposed to having a will drafted by an online service. One of the key differences is that many of these companies and offices are in the business of selling documents. If you want a will they will sell you a will.
Nolo Press has an article on their site entitled “How Much Will a Lawyer Charge to Write Your Will?” The article focuses on the cost of the document or document “packages.” One of the drawbacks of buying documents in this manner is that the client needs to know what documents they need and how to implement them to effectively address their needs.
We do things differently. We are not in the business of selling documents. Rather, we are in the business of counseling and advising our clients and helping them make informed and empowered decisions concerning a number of complex topics. Once the client has identified what they want to happen during their life and at times of death or incapacity, we then design and assemble a complete plan, not just a document.
Download the Report Now
Download a copy of our report. In it, you will discover some of the reasons why estate plans fail and how those failed plan contribute to a growing collection in California’s Department of Unclaimed Property which currently exceeds $9 Billion Dollars! We explain why form documents and “one size fits all” planning does not work. Most importantly, we will provide you with insight on how to value estate planning services on more than just price.
