Know what to ask, and what to expect.
Estate planning is a critical part of financial planning, but something many Americans procrastinate about. Yet drafting a will and a health care proxy or power of attorney, maybe creating a trust, and maximizing your loved ones’ inheritances by minimizing taxes are all important matters you don’t want to leave to chance.
You can also look at the National Association of Estate Planners & Councils’ website and the American Academy of Estate Planning Attorneys site to find an accredited estate planner in your area. Ask what, and how, the estate planner charges The amount you’ll spend depends on the complexity of your needs, your location and your attorney’s experience level. Fees for wills can range from about $100 for a simple will to several hundreds for an in-depth will, notes Joseph.
Some estate-planning attorneys charge by the hour. As a rule of thumb, these lawyers typically have hourly fees of $250 to $550. But, Joseph advises, “depending on the complexity of your estate, you may be better served by hiring someone who has substantial experience, even though it may cost you more.”
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