Fees in Estate Planning
Keeping You Compliant
One of the major deterrents in completing an Estate Plan is the concern as to the costs of the same. Generally clients are surprised how affordable it is to provide this protection for their family. It is also important to be aware of the costs of not having an estate plan. While you may save the expense of putting the plan together, in almost every case the ultimate cost will be much greater due to the extra fees and expenses that will be incurred as a result of not having the proper estate planning documents.
The costs of an estate plan are dependent upon what type of documents are needed. A Will, without any trust provisions generally costs $150.00 to prepare and have executed. Young Parent Wills, which would include trusts for minor children, generally are approximately $250.00. Sometimes it becomes necessary to do tax planning within your Will. These types of Wills generally involve more effort and range in cost from $300 to $1,000.
It is also recommended that an estate plan include a Power of Attorney and an Advanced Health Care Directive. A Power of Attorney is simply a document whereby you appoint somebody to be in charge of your financial affairs in the event that you are physically or mentally unable to manage the same. If you do not have a Power of Attorney the Court of Common Pleas will appoint a guardian to undertake these actions. This appointment of a guardian can be very costly and quite burdensome on the guardian. The cost of a Power of Attorney is far less than the costs of a guardianship. An Advanced Health Care Directive allows you to appoint an agent to make medical decisions for you in the event you are unable to make them for yourself.
If you have questions concerning the costs or fees for preparing Estate Planning documents or any discounts the may be available, call our office at 724-835-8440 or visit our easy-to-use contact us page.