Estate Planning Fees

By Jennifer Lane

Hi,
I am from Freetown, Ma. I was wondering what is the ballpark fee for a lawyer to prepare the documents you spoke about estate planning.
Thank you,
P. Carvalho

Hi Paulette — thanks for watching and for your question. I’m not sure about the Freetown area, but it’s completely fair to call a local attorney and ask them that question right over the phone. Most lawyers provide estate plans for a project fee rather than hourly, so they should be able to give you a ballpark over the phone. Its important to go in and meet with them though. You want to be sure you and the lawyer communicate well and you’re comfortable before retaining them.

Many of my clients have worked with lawyers around Rt. 128 that are charging $1,000 to $1,500 for the basics I talked about in tonight’s segment on NECN’s Business Day. Lawyers in Boston charge more. More complex estate plans cost more, too.

I realize this is not an inexpensive fee. Remember how important your estate plan is though and that it will last you many years. Lawyers tell me that most plans only need small (less expensive) updates every 5 years or so.

If you think your situation is straightforward start by talking to a general practice attorney. They will be able to help you or may refer you to an estate planning attorney if your situation is more complex. FindLaw.com is a helpful web site for info and a list of lawyers in your area.

Best
Jenn

Jennifer is the founder of Compass Planning, and a weekly commentator on NECN’s Business Day at 6:30 p.m. Look for her every Tuesday, or check out her blog, Jennifer’s Compass.