| Posted By |
Message |
ddunne2
LIF Adult
Member since 7/05 4189 total posts
Name:
Doreen
|
Ballpark cost for Estate Planning Lawyer?
Like many, we still have not done our wills, etc. I know, unexcusable! Anyway, does anyknow the ballpark cost for a lawyer to do wills, etc?
|
Posted 9/25/07 9:22 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
EmmaNick
*
Member since 12/06 16001 total posts
Name:
*
|
Re: Ballpark cost for Estate Planning Lawyer?
Just to give you an idea, our office charges $125 for a simple Will. A Will, HC Proxy and Living Will & Trust is around $300.
ETA: that is PP.
Message edited 9/25/2007 10:28:51 AM.
|
| Posted 9/25/07 9:26 AM |
| |
|
ddunne2
LIF Adult
Member since 7/05 4189 total posts
Name:
Doreen
|
Re: Ballpark cost for Estate Planning Lawyer?
Thanks...anyone happen to know a good lawyer in Cincinnati??
|
| Posted 9/25/07 9:27 AM |
| |
|
Calla
My girls
Member since 7/05 4303 total posts
Name:
|
Re: Ballpark cost for Estate Planning Lawyer?
Note: if you have a lot of assets you are going to spend a lot more than that. You'll need to set up multiple family trusts.
|
| Posted 9/25/07 10:02 AM |
| |
|
ddunne2
LIF Adult
Member since 7/05 4189 total posts
Name:
Doreen
|
Re: Ballpark cost for Estate Planning Lawyer?
Posted by Calla
Note: if you have a lot of assets you are going to spend a lot more than that. You'll need to set up multiple family trusts. [/QUOTE
Could you elaborate on that? What would you consider a lot of assets? Thanks
|
| Posted 9/25/07 10:19 AM |
| |
|
karacg
Babygirl is 4!
Member since 5/05 17076 total posts
Name:
Kara®
|
Re: Ballpark cost for Estate Planning Lawyer?
We are paying $700 - $750 to make up Wills, Health Care Proxies and POAs for both of us.
|
| Posted 9/25/07 10:27 AM |
| |
|
Calla
My girls
Member since 7/05 4303 total posts
Name:
|
Re: Ballpark cost for Estate Planning Lawyer?
My husband's life insurance policy alone made justified the formation of a trust with a lawyer.
When you combine you and your husband's insurance policies with equity in a house, retirement savings accounts, and general investments you'd be surprised how quickly it can add up. If you forced me to pick a number I'd say anything over $500,000 including your life insurance policies would justify consulting a specialized estate planning attorney to discuss your personal info -- he/she may tell you it isn't necessary until a higher number in your state.
The rules vary by state, so the amount to justify can range depending on where you live.
I live in Massachusetts, so that may impact everything, but I spent over $1000 in lawyer fees (and I'm married to a lawyer! )
Message edited 9/25/2007 10:35:58 AM.
|
| Posted 9/25/07 10:32 AM |
| |
|
ddunne2
LIF Adult
Member since 7/05 4189 total posts
Name:
Doreen
|
Re: Ballpark cost for Estate Planning Lawyer?
Posted by Calla
My husband's life insurance policy alone made justified the formation of a trust with a lawyer.
When you combine you and your husband's insurance policies with equity in a house, retirement savings accounts, and general investments you'd be surprised how quickly it can add up. If you forced me to pick a number I'd say anything over $500,000 including your life insurance policies would justify consulting a specialized estate planning attorney to discuss your personal info -- he/she may tell you it isn't necessary until a higher number in your state.
The rules vary by state, so the amount to justify can range depending on where you live.
I live in Massachusetts, so that may impact everything, but I spent over $1000 in lawyer fees (and I'm married to a lawyer! )
Thanks! We have pretty hefty retirement accounts plus our house and life insurance definately puts us over the 500,000 mark. I appreciate it. 
|
| Posted 9/25/07 10:50 AM |
| |
|
