FEES YOU CAN EXPECT TO PAY FOR A TRUST-BASED ESTATE PLANNING SERVICE
Feb. 5, 2015
As with all professional services, there are fees associated with creating a trust-based estate plan. Many people with assets will have to use a more comprehensive estate plan that includes a trust. This is because a trust will protect the individual's assets, prevent excessive estate tax and offer a wide variety of strategies for distributing the estate.
PROS TO A TRUST-BASED ATTORNEY
Attorneys who work with these types of estate plans are highly experienced. They will work with additional advisors including bankers, financial experts, accountants and even assessors to ensure that a person's estate is protected in all corners. These estate planning experts will also devise an ironclad estate plan that protects the individual, the assets and all beneficiaries associated with that estate.
Cons to a Trust-Based Attorney
Those who are on the hunt for a bargain attorney will not find a good deal when they consider the services of a trust-based estate planning expert. This is because these experts are highly skilled; therefore, they typically charge $2,000 to over $5,000 for their estate-planning services.
Estate planning may carry a higher upfront fee, but the repercussions of cutting corners are extremely costly. When people don't take the time to plan their estates carefully, especially when they value in the millions, they can cost their beneficiaries and their estate thousands of dollars more than the cost of an experienced estate planning attorney.