- How much does an estate planning attorney cost in Matthews?
- A basic will package typically runs a few hundred to around $1,000 depending on complexity, while a revocable living trust package (trust, pour-over will, powers of attorney, and health care directive) often runs $1,500 to $3,500 as a flat fee. Hourly rates apply for probate litigation, contested estates, or complex tax planning, and can run several hundred dollars an hour.
- How often should I update my estate plan?
- Review your plan every 3 to 5 years, and sooner after a major life event: marriage, divorce, the birth of a child, a death in the family, buying property, or a significant change in assets. Powers of attorney and health care directives should also be checked whenever your named agents move, become ill, or are otherwise no longer suitable.
- What should I bring to a first meeting with an estate planning attorney?
- Bring a list of your assets (real estate, accounts, life insurance, retirement plans) and current beneficiary designations, a family tree noting minor children or dependents with special needs, any existing will or trust documents, and a rough idea of who you'd want as executor, trustee, or guardian for your kids.
- Do I actually need a trust, or is a will enough?
- A will alone is enough for many simple estates, but it has to go through probate, which is public and can take months. A revocable living trust avoids probate for assets placed in it, keeps your affairs private, and can make things easier for your family, but it costs more up front and requires you to actually retitle assets into the trust's name. A good attorney will tell you honestly if a trust isn't worth the extra cost for your situation.