How Much Do You Charge For “IT” (A Will or Living Trust)? An Atlanta Estate Planning Attorney Explains
Very frequently, we get a call from someone who is ready to make an appointment for a Georgia Family Treasures Planning Session, but wants to know “How Much Will “It” Cost?” “It” here refers to a will or trust or other legal planning document; i.e., “How Much Does a Will Cost” or “How Much is a Living Trust”? Let's imagine you have that question. Here is what I would tell you.
Before we talk about fees, it's important for you to understand how our firm is different than traditional law firms. First of all, we don't bill anything on an hourly basis, so you never have to worry about any surprises when it comes to what something will cost. Everything is flat fee and discussed up front, so you will never get a surprise bill in the mail. With a traditional law firm, you might expect to pay $500-$3,000 for a typical set of estate planning documents. In many cases, in our experience, those estate planning documents won't work when your family needs them because they will become stale the minute you walk out the door of your lawyers office – you'll put the documents away and never look at them again. Your life will change, your assets will change, and the law will change, but those documents are going to be sitting there – staying the same. You are unlikely to ever hear from your lawyer again and won't update your plan and if you do, you'll very likely have to pay hourly to take care of any updates with uncertainty about how much that will cost on an ongoing basis. And, if your lawyer goes out of business or dies, you'll have to start everything over with a new lawyer and pay all those initial fees again. And, this is sad to say, your assets are very unlikely to be owned in the right name at the time of your death, making all the planning you did irrelevant.
At GeorgiaFamilyLaw, we don't believe that traditional model of estate planning really serves you and your family. Instead, we focus on developing a lifetime relationship with you, giving you affordable access to a lawyer who will help you make the right legal decisions throughout life and then being there for your family when you can't be.
We do this in a number of ways, including throwing out the time clocks – which means everything we do is billed on a flat fee basis, agreed to in advance, so there are no surprises. It means we have a whole team in place to ensure that every part of your planning is done right, including that your assets are titled in the right name and that your planning continues to work throughout your lifetime. We do that by reviewing your planning at least every three years at no additional charge and if you want to make unlimited changes to your plan on an ongoing basis and be able to consult with us about all of your legal and financial questions that come up during life without paying hourly fees, we have a membership program you can join to ensure your planning works when your family needs it. And last, we don't focus only on passing on your financial wealth, but we also have a unique process for capturing the assets that are most often lost when someone dies because they are intangible – the intellectual, spiritual and human assets – or who you are and what's important to you.
All of that's getting a little ahead of the game though because we can't get to any of that until you complete a Family Wealth Inventory and Assessment and have a Georgia Family Treasures Planning Session to determine whether your family is a good fit for our services. Normally, that Georgia Family Treasures Planning Session is $750, but if you found us through this blog post on our website, we will waive that fee for you.