How Much It Costs to Make a Will and Estate Planning Documents?

Depending on where you live and how complicated your family and financial circumstances are, a lawyer might charge anything from a few hundred to several thousand dollars for a will and other basic estate planning documents.

Estate planning lawyers generally use flat fees or charge by the hour. When hiring an attorney, ask upfront how they charge.

All Estate Plans Aren't Created Equal

The cost of your estate plan varies depending on the documents you need and the complexity of each document. These documents are the estate planner's tools. A good estate planning attorney will recommend a combination of those tools and help you prepare a strategy to make the tools work together.

Example 1: A young couple of average wealth with small children will need an estate plan that focuses on guardianship and maximizing financial security in the event the parents pass away at a young age. This plan requires straightforward documents like a will, appointment of guardianship, and perhaps a basic living trust.

Example 2: In contrast, a wealthy individual with children from multiple relationships will need a plan that focuses on wealth management and legacy planning with careful consideration of family dynamics. This plan requires more skill in both strategic planning and document drafting, potentially involving multiple types of trusts, powers of appointment, and powers of attorney.

Keep in mind that fees for estate planning aren't just a function of the time your attorney spends drafting documents. Good estate planning attorneys use their skills, knowledge, and expertise to construct a holistic plan that will help you accomplish your unique estate planning goals. You will pay more for the work of a more experienced estate planning attorney who can provide a complex plan. If you don't need a complex plan, consider finding an attorney who focuses on plans for simpler estates.

How Lawyers Charge: Flat Fees

It's very common for a lawyer to charge a flat fee to write a will and other basic estate planning documents. The low end for a simple lawyer-drafted will is around $300. A price of closer to $1,000 is more common, and it's not unusual to find a $1,200 price tag. If you pay for additional documents, like a trust or a power of attorney, the price will be higher (see estate planning packages, below). Lawyers' fees depend on their experience level and the going rate where you live. An inexperienced lawyer in a small town generally will charge much less than an experienced lawyer in a big city.

Lawyers like flat fees for several reasons. First, they can use forms that they've already written. Most estate planning lawyers have a set of standard clauses that they have written for different situations, which they assemble into estate planning documents that fit a new client's wishes. It won't take a lawyer much time to put your documents together, but with a flat fee, lawyers can charge for their expertise and experience. A flat fee means they don't have to keep detailed records of how they spend their time, either.

Finally, some lawyers feel that a flat fee arrangement lets everyone relax and makes for a better attorney-client relationship. You won't feel reluctant to call or email with a question, and the lawyer can take the time necessary to listen to your concerns and explain things to you without feeling like the meter is running.

That said, lawyers don't charge all of their clients the same flat fee. You'll have to talk to a lawyer to find out what the cost will be for you—don't expect to find a list of prices on the lawyer's website. A conscientious lawyer does this not to hide the ball, but because it's impossible to know what you need without a conversation about your situation and wishes. A good lawyer will talk to you (on the phone or in person) before quoting you a price.

How Lawyers Charge: Hourly Billing

Some estate planning lawyers bill clients by the hour. Hourly rates generally run between $250 and $500 per hour. As with flat fees, the hourly rate will depend primarily on the lawyer's experience and training, and where you live. In a small town, you might find someone who bills at $150/hour, but in a city, you might pay more than $500/hour. Lawyers in big firms generally charge higher rates than sole practitioners or small firms, unless a small firm is made up of lawyers who specialize in sophisticated estate planning and tax matters. A lawyer who does nothing but estate planning will probably charge more than a general practitioner, but should also be more knowledgeable and efficient.

If your attorney employs less experienced lawyers (associates) or legal assistants (paralegals), their time should be billed at a lower hourly rate.

Many lawyers keep track of their time in six-minute increments (one-tenth of an hour). That means that you'll never be billed for less than six minutes of the lawyer's time, even if the lawyer spends just two minutes on the phone with you.

Get the Fee In Writing

No matter which type of fee arrangement your attorney uses, make sure you get it in writing! Your attorney should offer you an engagement letter that details:

• fees and payment terms
• the scope of work your attorney will do (i.e., what estate planning documents are included in your plan)
• confidentiality requirements, and
• any agreements about conflict resolution.

This is the contract between you and your attorney. If your attorney doesn't provide an engagement letter like this, ask for one. You and your attorney should sign the agreement before work begins.

More Than a Will: Estate Planning Packages

Most people end up paying a lawyer for more than a simple will. Many lawyers correctly advise clients to make a few other estate planning documents in addition to a will, including:

• Durable power of attorney for finances
• Advance directive (durable power of attorney for health care and living will—these might be combined into one document, depending on state law)

This is good advice because every adult should have these documents. They give someone the power to act on your behalf (always in your best interests) if you should become incapacitated—for example, because of an accident or unexpected serious illness. These aren't complicated documents, and many states have their own forms for the advance directive. But they'll probably add a few hundred dollars to the bill.

A lawyer might also recommend a living trust, which will let your family avoid the expense and delay of probate court proceedings after your death. Not everyone needs a living trust, though. It depends on where you live (probate is more expensive in some states than others), how you own your assets (if you own everything jointly with your spouse, you might not need a trust now), and your age (younger people, generally, don't need trusts).

Lawyers typically charge much more for a living trust than for a will, even though a simple living trust is a fairly standard document. It's rare to see a price of less than $1200 or $1500 for a trust. If a lawyer makes you an estate planning package, it could cost $2,000 to $3,000 (or more). Again, the price will depend on several factors, like the lawyer's experience, the number of documents, and the going rate in your area.

One caveat about trusts: After your will has been properly signed and witnessed, you're done. But after a living trust is drawn up and signed, you must change the title to the assets that you want to leave through the trust. Make sure you know whether the lawyer's fee includes doing this work (called funding the trust) or not; if not, you're responsible for getting this crucial step done.

Make Your Own Will and Estate Planning Documents

If you want to avoid legal fees or can't afford an attorney, you can try making your own estate planning documents. Several states offer a form "statutory will" that allows you to fill in blanks with your instructions for leaving your property and appointing an executor and guardian for your children. States also might have other forms, like powers of attorney, that you can easily fill out. The problem with these documents, especially the statutory will, is that they are basic and don't give you much flexibility.

A better approach than using statutory forms is to try Nolo's Quicken WillMaker & Trust. WillMaker allows you to create a customized and comprehensive estate plan for your entire family.