How Much Does an Estate Plan Cost?
While we can’t quote you an exact rate for an estate plan without knowledge of your situation, most plans range from $1,500 – $5,000 depending on the complexity of your assets. Owning several properties, having several investment accounts or having ownership in a business are just a few things that may cause an estate plan to cost more. Basically, each asset must be clearly defined, along with beneficiaries and your wishes as to how it’s to be divided.
What Does an Estate Plan Include?
Generally speaking, an estate plan typically includes a will and/or a living trust, Advanced Health Care Directive (AHCD), healthcare power of attorney, beneficiary designations, guardianship designations and a durable power of attorney. This is not a comprehensive list as every family’s needs and situations are unique, but these are some of the most common documents. Additionally, if real property is placed in a living trust, the attorney usually files a change of Deed with the County Recorders office to properly move the property into the trust and makes it accessible to the beneficiary.
How Long Does it Take to Make an Estate Plan?
The process to make an estate plan is usually fairly straightforward. Our listed attorneys start with an initial consultation where they’ll explore your wants & needs, goals and assets. Once they collect and understand everything, they can create an outline of what they recommend for your unique situation and provide you with some options. As long as you come prepared to this initial meeting it will usually take 1 – 2 hours. Typically, within a few days to a week the documents will be drafted and ready for you to sign. Once your pen hits the paper the documents become legal. If you own real property that’s being placed into a living trust, the attorney usually files a notice to the County Recorder’s office which takes 6-8 weeks for recording. If time is a critical factor, then you should let your attorney know right away so they can expedite the process as needed.