What Does an Estate Plan Cost? Understanding the Value of Flat Fees. – From Mesa Estate Planning Attorney

One of the biggest concerns people have when deciding to create their estate plan is the fee.  How much is it going to cost?  And I will tell you the answer that every attorney learned in law school:  “It depends!”

And this is true.  We are not in a one-size-fits-all business.  We need to learn about your individual situation and goals to craft a plan specifically for you.  And the fee to craft that plan will be reasonable based on what is in it.

But what I can tell you is how we charge a fee.  We charge a flat fee.  The fee that our attorneys quote to you is the fee that you will pay – there are no added costs, no surprises, no hidden fees.  You will walk out of the meeting, after discussing your estate planning needs, knowing exactly what it will cost to implement.

The traditional method used by most attorneys of charging fees is to bill hourly.  So the fee you hear at the end of the consultation with one of those attorneys will be an estimate.  The actual fee won’t be known until the very last minute.  Under the hourly fee method there are costs for calling the attorney, speaking with a paralegal and even communication through e-mail.  The time on the call and reading and responding to e-mails are tracked and used in the calculation.

Under our flat fee method, there are no additional fees to communicate with us.  There are no additional fees, period.

We want you to be able to communicate, freely, your thoughts and concerns so that we can ensure the plan that we put in place for you is the one that gives you peace of mind.  We don’t want you to worry that a phone call will cost an additional $70*!  We want you to call, ask a question and get the answer to make you feel good about what you are doing.

Knowing what you will pay for your estate plan, in the beginning, provides you with the ability to not only make an educated decision whether to move forward, but also the flexibility and opportunity to continue to converse with our attorneys and staff to build your ideal estate plan.

And that’s value!

* Estimate based on an 8 minute phone call at a typical attorney’s rate of $350 per hour

Contributed by MHK Phoenix & Mesa Attorney James P. Plitz

About Morris, Hall & Kinghorn:
At Morris, Hall & Kinghorn, we have focused our legal practice on estate planning for over 40 years.  Along with estate planning, our attorneys help clients and their families with matters of probate, trust administration, wills, power of attorneys, business planning, succession planning, legacy planning, charitable gifting and other important legal aspects.  We also have divisions in financial, real estate and accounting to help you incorporate all of your planning together, ensuring that everything works perfectly for your needs and situation. Our Arizona offices are located in Phoenix, Mesa, Scottsdale, Tucson, Prescott, Flagstaff and Arrowhead.  Our New Mexico offices are located in Albuquerque, Las Cruces and Santa Fe.  Contact us today at 888.222.1328 to schedule an appointment!

This blog should be used for informational purposes only.  It does not create an attorney-client relationship with any reader and should not be construed as legal advice.  If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.

 

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