{"id":287037,"date":"2021-12-02T17:08:00","date_gmt":"2021-12-02T22:08:00","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/estate\/planning-an-estate\/what-does-an-average-estate-plan-cost-detailed-price-analysis.html"},"modified":"2025-11-14T14:48:01","modified_gmt":"2025-11-14T19:48:01","slug":"what-does-an-average-estate-plan-cost-detailed-price-analysis","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/estate\/planning-an-estate\/what-does-an-average-estate-plan-cost-detailed-price-analysis.html","title":{"rendered":"What Does an Average Estate Plan Cost? (Detailed Price Analysis)"},"content":{"rendered":"\n
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What Does an Average Estate Plan Cost? (Detailed Price Analysis)<\/h1>\n\n
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\n By Linda Long, J.D.<\/a> | Legally reviewed by Catherine Hodder, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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Key Takeaways<\/h2>\n

The average cost<\/span> of an estate plan depends on whether you hire an estate planning attorney<\/span> or do it yourself<\/span> and the complexity of your estate<\/span> plan. Lawyers may charge a flat fee<\/span> or by the hour.<\/p>\n\n <\/div>\n <\/div>\n<\/div>\n\n\n

The cost of <\/span>estate planning<\/span> services<\/span> can range from a few hundred dollars to thousands of dollars, depending on the complexity of your estate<\/span> plan. Some people may only want a basic will<\/span>, for example, a single parent who wants to leave their estate to their children and can do DIY<\/span> estate planning<\/span>. Or some people may have a more complicated estate where there are second marriages, blended families<\/span>, or dependents with special needs<\/span>. Individuals concerned about\u00a0estate taxes<\/span>\u00a0may require specialized\u00a0tax planning<\/span>\u00a0from an\u00a0experienced\u00a0estate planning lawyer<\/span>.<\/p>\n

In this article, we\u2019ll explain common estate planning documents<\/span> and the costs associated with them. To learn how much an estate plan tailored to your specific needs<\/span> might cost, it\u2019s best to consult with a local estate planning attorney<\/span><\/a>.<\/p>\n

Typical Estate Planning Documents<\/span><\/h2>\n

Each of the following documents serves a different purpose and should be completed to accomplish your estate planning goals. Below, you will find details about what each document does, how it benefits you and your estate, and the typical cost of drafting the document.<\/p>\n

1. Last Will and Testament<\/h3>\n

A\u00a0last will and testament<\/u><\/a>\u00a0is a legal document<\/span> that states your wishes for how you want your money and property to be distributed after you die. It is the beginning of a basic estate plan<\/span>, and it should be completed by everyone.<\/p>\n

In a will, you name a personal representative to manage your estate, identify your beneficiaries<\/span> who you want to inherit your estate, and name guardians for your minor children<\/span> to handle their care.<\/p>\n

The average range of having an attorney draft a simple will<\/span> is about $500 to $1,500, depending on the geographic location<\/span> and the attorney\u2019s fee<\/span> structure.<\/p>\n

2. Advance Directive for Health Care<\/h3>\n

An\u00a0advance health care directive<\/span><\/u><\/a>\u00a0is a legal document<\/span> that is often known as a \u201cliving will<\/span>\u201d and is specifically designed to allow you to advocate for yourself regarding end-of-life<\/span> care. In your living will<\/span>, you indicate what medical treatments<\/span> you want to preserve or prolong your life.<\/p>\n

A living will<\/span>\u00a0only applies to end-of-life<\/span> care. If you want someone else to be making medical decisions<\/span> on your behalf at other times,\u00a0then you should give someone durable <\/span>power of attorney<\/span> for health care<\/a>.<\/p>\n

Using an attorney to draft your advance directive for health care may cost you between $300-$600.<\/p>\n

3. Power of Attorney<\/span><\/h3>\n

A\u00a0power of attorney<\/span><\/u><\/a>\u00a0is a legal document<\/span> that protects your interests if you become incapacitated in some way. In any estate plan, a power of attorney<\/span> is vital for protecting your interests in case of incapacity. Those diagnosed with Alzheimer\u2019s disease or dementia or are otherwise incompetent and unable to make their own decisions may benefit from giving someone medical power of attorney<\/span>, financial power of attorney<\/span>, or general power of attorney<\/span>.<\/p>\n

While the cost to have a lawyer prepare a durable <\/span>power of attorney<\/span> can vary from state to state, the average price for drafting a power of attorney<\/span> is $150-450.\u00a0<\/p>\n

4. Revocable <\/span>Living Trust<\/span><\/h3>\n

Revocable <\/span>living\u00a0<\/span>trusts<\/span><\/u><\/a>\u00a0are trusts established by a grantor\u2014the person who created the trust\u2014and allow\u00a0the grantor to retain custody of their assets in the trust while transferring legal ownership. A revocable <\/span>living trust<\/span> names the grantor as trustee so that they can continue to use and manage assets like a business or a home while transferring ownership to the trust. A revocable <\/span>living trust<\/span> can be changed during the grantor\u2019s lifetime. It becomes irrevocable (or permanent) after the grantor dies.<\/p>\n

Trusts help family members to avoid probate<\/span>.\u00a0Probating<\/u><\/a>\u00a0a will\u00a0is the legal process through which property is transferred from a\u00a0testator (the person making the will) to the beneficiary<\/span>. Trusts help avoid probate<\/span> because, while the grantor keeps possession of the property until they die, the property itself is not included in the estate.<\/p>\n

Trusts are typically expensive to create. On average, the cost of a trust starts at around $2,000 to have an attorney draft.<\/p>\n

Average Cost<\/span> for Typical Estate Documents<\/h2>\n

Below\u00a0are\u00a0the typical costs\u00a0for basic <\/span>estate plan<\/span> documents<\/span>. These documents should be included in a\u00a0comprehensive estate plan<\/span>.<\/p>\n

Last Will and Testament$500-$1,500Advance Directive$300-$600\u00a0Power of Attorney<\/span>$150-$450Revocable Living Trust<\/span>$2,000+<\/p>\n

Typical Attorney Fee<\/span> Structures<\/h2>\n

There are two\u00a0types of\u00a0fee\u00a0structures<\/a> that attorneys typically use. Typical fee structures include\u00a0flat fees<\/span>\u00a0and\u00a0hourly rates<\/span>. An attorney will discuss their fee structure with you during your\u00a0initial consultation.\u00a0An experienced <\/span>estate planning attorney<\/span> may charge higher fees<\/span> than a less experienced attorney. Fee structures vary by firm, but below are examples of common fee structures, including:<\/p>\n

1. Flat Fee<\/span><\/h3>\n

A\u00a0flat fee<\/span>\u00a0is a one-time charge for services. Some attorneys charge a flat fee<\/span> for services that may not take a significant amount of time. That being the case, if your attorney agrees to a flat fee<\/span> for their services, they may not be willing to handle a more complex estate<\/span>.<\/p>\n

An estate planning attorney<\/span> who agrees to a flat rate may not draft other estate documents besides a last will and testament, such as a trust or power of attorney<\/span>. If your estate plan is not complex, a one-time, flat fee<\/span> may be an excellent way to save on\u00a0costs.<\/p>\n

However, attorneys may offer a comprehensive package of\u00a0estate planning documents<\/span>,\u00a0including a trust, which can be more cost-effective than purchasing each document separately.<\/p>\n

2. Billable Hours<\/h3>\n

Most attorneys, including estate planning attorneys<\/span>, charge based on\u00a0billable hours<\/u><\/a>. A billable hour is an increment of time\u00a0the client is charged for. Most attorneys tend to charge by the hour for more complex projects. If your estate requires much more attention and needs the attorney to draft\u00a0complex documents, they may want to charge you by the hour for their work.<\/p>\n

Examples of billable expenses may include:<\/p>\n