"It is unwise to pay too much, but it is also unwise to pay too little. When you pay too much you lose a little money, that is all. When you pay too little you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do.
The common law of business balance prohibits paying a little and getting a lot -- it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run. And if you do that, you will have enough to pay for something better."
If you are shopping for estate planning services solely based on price, then I am not the estate planning attorney for you. My legal fees are higher than many attorneys, and lower than many attorneys, but they represent exceptional value. All of the estate plans that I draft are customized for the particular clients' needs. Several hours are personally spent by me meeting with my clients and creating their estate plans.
FOUNDATIONAL ESTATE PLANNING:
For individuals, my planning fees for living trust based estate plans run from $1,800 to $3,300. The actual cost will be determined by the following factors:
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The wishes and desires of the individual
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The planning objectives the individual has for his or her property and family, including any desire for asset protection planning for the inheritance that is being passed on
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If the individual has minor children, any special planning that is desired for the minor children
For married couples, my planning fees for living trust based estate plans run from $2,500 to $4,000. The actual cost will be determined by the following factors:
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The wishes and desires of the couple
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The planning objectives the couple has for their property and family, including any desire for asset protection planning for the inheritance that is being passed on
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Income and estate tax planning, including planning for the current repeal of the federal estate tax and the likely return of the tax later in 2010
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If the couple has minor children, any special planning that is desired for the minor children
For registered domestic partners, my planning fees for living trust based estate plans run from $3,000 to $4,500, which represents the preparation of two individual coordinated estate plans for the couple. The actual cost will be determined by the following factors:
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The wishes and desires of the couple
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The planning objectives the couple has for their property and family, including any desire for asset protection planning for the inheritance that is being passed on
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If the couple has minor children, any special planning that is desired for the minor children
ADVANCED ESTATE PLANNING:
Advanced estate planning options also exist, such as irrevocable life insurance trusts (ILIT), charitable trusts (CRT), suppplemental or special needs trusts for disabled persons (SNT), and the IRA Inheritance Trust for retirement plan assets (IRA Trust).
For ILIT, CRT, and SNT, my flat fee is $2,000 for each trust.
For the IRA Inheritance Trust, my flat fee is $3,000 to $3,500 for individuals, married couples, registered domestic partners, or gay/lesbian married couples. Separate IRA Inheritance Trusts are drafted for each spouse or partner.
Those who attend my living trust seminars can qualify for a substantial discount on the above fees. Also, those who belong to a legal service plan such as ARAG, CLC Incorporated, Hyatt (MetLife), AARP or AMAC can also qualify for substantial discounts on the above fees.
You can read about what is contained in each of the estate planning options that I offer on other sections of this website.
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