Estate planning is important, but it isn’t cheap. Still, there are ways to save on the costs.
A story in Time lists five steps to take to better understand and, as a result, reduce the costs of estate planning.
- Understand what you need. Talk to your financial advisor and do some reading so you understand the basics before you get started. At a minimum you’ll need a durable power of attorney, health care advance directive and a will. You may also want a trust.
- Talk about cost up front. Ask any potential estate planning attorney how they charge – it may be by the hour or a flat fee. Ask if they offer a free consultation.
- If you choose an attorney with a flat fee, find out what that includes.
- Choose an attorney with experience and with whom you share a rapport.
- Come to your first meeting prepared. Ask what documents you will need and bring them.
If you have questions about estate planning, feel free to call us for a consultation at (626) 696-3145.
