What Variables Influence How Much My Estate Plan Costs?

A leading reason for many people to put off the process of estate planning is confusion or lack of clarity around what it might cost. There are a number of different factors that will influence what your estate plan costs. The chief among these being your individual goals for your estate planning process. You may have very complex goals that you intend to achieve with tools, such as living trusts, asset protection planning, or long-term care Medicaid qualification plans.

These will require more advanced work from an experienced attorney and therefore will cost more. The number of assets that you have can also influence the cost of your estate plan. If you have relatively few assets and have many of these assets passing outside of probate, such as life insurance policies or retirement plans, you will not need as many tools or things called out specifically in your paperwork. In these situations, a simple will might be sufficient to help accomplish your goals.

However, it is always a good idea to do some research about estate planners in your area to have a better sense of the options available to you so that you can make an informed decision about what is most appropriate for you and the goals that you have for your loved ones.

Many people are surprised to learn that estate planning can be relatively affordable especially when compared with the potential costs and frustration of your loved ones dealing with probate after you pass away because you did not have a plan or an appropriate plan in place. Our Pasadena estate planners can help you create a plan of your own.

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