Estate planning is a crucial measure that ensures a person’s assets are given away according to their wishes; otherwise, the inheritance could be diminished by court costs and other fees. While many people have come to realize the importance of estate planning generally, they have many questions and fears about the costs of a Houston estate plan. This may deter Texans from creating an estate plan, but it should not. Below are common questions and answers about estate planning fees and the benefits of hiring an estate planning attorney.
Why Should I Hire an Estate Planning Attorney?
Many Texans believe that hiring an estate planning attorney is costlier than using an online website; however, there are innate benefits to using an estate planning attorney. Firstly, internet sites do not provide specified advice for clients and their specific needs. An experienced (key word) estate planning attorney will tailor all estate planning documents to the person’s desires and requirements. Especially for people with unique family circumstances, this is a must.
When it comes to guaranteeing a person’s benefits are distributed according to their wishes, hiring an estate planner makes sure this is done properly. While internet websites may appear cheaper, they can be more costly later if there are mistakes with the estate plan—and this will have detrimental impacts on the family when they are trying to access the estate plan funds.
What Types of Estate Planning Fees are There?
When deciding what type of estate attorney to hire, there are different pricing systems used by different lawyers. The two types of pricing systems used for estate planning are hourly rates and flat fees. An hourly rate requires the client to pay for any time a lawyer works on the case. Often, lawyers will use hourly rates if they believe the estate plan requires extra time due to its specifications. A flat fee is a fixed price that a client pays for the entire estate planning process. The attorney will specify what they will complete as part of these services, and clients will know the cost upfront.
What Will Increase My Estate Planning Bill?
Because there is no “one-size-fits-all” plan for estate planning, there are elements that may increase the cost. This may include how many documents the client needs to be prepared beyond a will, like an advanced healthcare directive or power of attorney. Additionally, a client with many beneficiaries may require a more complex will—with specific requirements for how each beneficiary is to receive their assets—that may also increase the rate.
While hiring an estate planning attorney and creating an estate plan may seem expensive and unpredictable, researching firms and discussing fees upfront is the perfect way to find the right estate planning attorney for every client’s specific needs.
Contact a Houston Estate Planning Attorney
If you or a loved one is interested in creating an estate plan, the experienced Houston estate planning attorneys at McCulloch & Miller, PLLC, can help. We understand that estate planning can be a difficult and confusing process, especially when it comes to costs. During our initial consultation, we make sure to be extremely transparent about costs and providing the services that work for you and your family.
We also offer flat fees for most of our Texas estate plans. To speak with one of our attorneys and to schedule a consultation, call us today at 713-333-8900.