How much does estate planning cost? 

I have practiced Law for more than thirty years and charge $250 per hour for consultations but, if you know me, you would know that I am not in it for the money - I am sincerely dedicated to making estate planning reasonably available and to that end have set up systems and alliances designed to make it affordable for you.  Following are some typical examples of what it would cost an individual, a married couple or same-sex life partners - Bob Calongne

Simple Will (without a trust) - individual or a couple - about $150

Simple Will Package - preparation and execution of simple will (without a trust) for individual or a couple, with general durable power of attorney, power of attorney for the transfer of US Treasury securities, power of attorney for health care (listing special health care conditions or needs), living will declaration (artificial life support directive), designation of your guardian, and designation of guardian of minor children for each, together with handy printed forms (personal data, list of important persons and documents, inventory of assets and insurance policies, memorial instructions and keepsake designations) to be filled-out by you - about $400

Testamentary Trust (will with trust) Package - preparation and execution of simple will with trust (trust comes into existence after your death) and trust scenario for an individual or couple, with general durable power of attorney, power of attorney for the transfer of US Treasury securities, power of attorney for health care (listing special health care conditions or needs), living will declaration (artificial life support directive), designation of your guardian, and designation of guardian of minor children for each, together with handy printed forms (personal data, list of important persons and documents, inventory of assets and insurance policies, memorial instructions and keepsake designations) to be filled-out by you - about $800

Estate Plan Scenario - consultation and examination of your needs based on information supplied by you (without verifying the public records) and a "detailed written legal opinion" of suggested actions needed (and estimating the itemized cost to do them) - the suggested services need not be performed by our attorneys - about $250 (and that fee would be applied to the charges if we later perform those suggested services)

Long Term Care (LTC) Planning - explanation of your long term care needs based on information supplied by you (without verifying the public records) and a "detailed written legal opinion" of suggested actions needed (to preserve the estate if LTC confinement is necessary, given tax, governmental assistance programs and other considerations, detailing what funds must be retained to cover LTC costs until Medicaid benefits start and estimating the itemized cost of legal documents needed) - the suggested services need not be performed by our attorneys - about $500 (and that fee would be applied to the charges if we later perform those suggested services - see LTC trust package below)

LTC Trust Package - preparation and execution of a special irrevocable trust (designed to hold assets), trust scenario, conveyance of real estate to trust, will, general durable power of attorney, power of attorney for the transfer of US Treasury securities, power of attorney for health care (listing special health care conditions or needs), living will declaration (artificial life support directive), designation of your guardian, and designation of guardian of minor children for client, together with handy printed forms (personal data, list of important persons and documents, inventory of assets and insurance policies, memorial instructions and keepsake designations) to be filled-out by you - normally about $1,500 (that includes $100 recording allowance and $200 for the assistance of a financial consultant to transfer assets to the trust)

Louisiana Medicaid Memo - Free - Are your concerned about placing your mom or dad into a nursing home?  Simply email to us your request for information that we compiled from the office of the Bureau of Health Services Financing in Baton Rouge concerning the jointly administered Federal-State Medicaid program (including suggestions for "spend-down" planning) and we will hold your inquiry in confidence and send you the information without obligation.

Long Term Care Insurance Info - Free - Considering investing in this insurance? Simply email to us your request for information concerning the Consumer's Union's recommendations to assist you when shopping for long-term care insurance and we will hold your inquiry in confidence and send you the information without obligation.

Simple Trust (e.g., for insurance policies or for a "gift campaign") - preparation and execution of a special irrevocable trust (designed to hold insurance policies or other assets that would not ordinarily be counted for federal estate tax purposes) and trust scenario with forms for securing taxpayer identification number for trust - about $500 - each conveyance of real estate to such a trust would require a fee of about $100 plus recordation fees of about $150

Portfolio Outfit - a handsome leather bound portfolio outfit for your documents - about $50

Living Trust Package - preparation and execution of appropriate revocable living trust with memorandum of trust, trust scenario, conveyance of real estate to trust, will, general durable power of attorney, power of attorney for the transfer of US Treasury securities, power of attorney for health care (listing special health care conditions or needs), living will declaration (artificial life support directive), designation of your guardian, and designation of guardian of minor children for client, together with handy printed forms (personal data, list of important persons and documents, inventory of assets and insurance policies, memorial instructions and keepsake designations) to be filled-out by you - fee depends of the type of plan for which you are preparing:

• If planning for an individual or couple whose assets are each expected to fall below the 2004 $1,500,000 federal tax-free estate level at time of death (e.g., even for a larger estate of an elderly client that is expected to decline below that level by the time of death) - the fee would be about $1,900 (which includes no recordation allowance but does include $400 for the assistance of a financial consultant to transfer your assets to the trust and provide annual follow-up reviews)

• If planning for an individual or couple whose assets are each expected to be above the $1,500,000 federal tax-free estate level at time of death (e.g., even for a smaller estate that is expected to appreciate to that level before time of death despite a "gift campaign") - the fee would be about $2,100 (which includes no recordation allowance but does include $400 for the assistance of a financial consultant to transfer assets to the trust and provide annual follow-up reviews) but an additional irrevocable trust - for an additional fee of about $500 - might also be suggested for the "gift campaign" (using the annual tax-free gift exclusions)

...and it will certainly cost you absolutely nothing to find out how much your plan would cost - please Contact Us for information or email your inquiry to us to bob@trust-counsel.com without obligation - we will keep it confidential. 

Whether or not a trust is for you, ethical, professional and proper estate planning is well worth your time, effort and expense if you will but consider the alternative.

Contact Us for this free information