ESTATE PLANNING FEE SCHEDULE
In order to maintain a logical, consistent, and fair pricing system, most services I provide use a fixed fee arrangement. In other words, you will usually know the project cost before any work begins. The initial estate planning consultation is complimentary with no obligation to proceed. Reduced fees may be available if you need to update an estate plan prepared by another estate planning lawyer within the past 10 years.
Essentials (choose 1):
1- Contract-based Estate Plan, including Powers of Attorney & "Back-up" Will
2- Traditional Will-based Estate Plan, including Powers of Attorney
3- Living Trust-based Estate Plan, including All Supporting Documents
Premium add-ons (optional):
A- Inheritance Protection Planning for Surviving Spouse
B- Inheritance Protection Planning for Non-Spouse Beneficiaries
C- Arizona-based Hybrid Asset Protection Trust
D- Beneficiary Deed
E- NFA Gun Trust
F- Irrevocable Life Insurance Trust
G- Powers of Attorney and Living Will Declaration (a la carte)
How to Calculate the Total Fee:
My fee quote will combine one of the essential base fee amounts plus any premium options you choose. For example, a common fee quote for a married couple is $5,000 ($3,000 living trust essentials + $1,500 inheritance protection + $500 SECURE Act compliance). But a simple will-based estate plan with outright distribution is only $1,500.
Why We Offer Fixed Fees:
I strongly prefer the use of fixed fees whenever possible because hourly billing doesn’t put the focus on what you really want - a “solution” to your problem, or a “vehicle” to help you realize a goal or objective. Whenever possible the price should reflect the value of the work, not the amount of time employed to finish it. However, there are some situations when an hourly billing rate makes better sense and for those situations my rate is usually $375/hour.
Do you simply want to update an estate plan prepared by another law firm?
If you wish to update an estate plan prepared by another estate planning lawyer within the past 10 years, then your project may be eligible for a reduced fixed fee. However, the regular fixed fee schedule is usually used when making any substantive changes to the structure or design of an estate plan prepared by someone else.
Fee schedule updates:
This fixed fee schedule was published on December 30, 2021. The next update is planned for September 1, 2023.
Payment methods:
We accept cash, checks, debit cards, and credit cards (including American Express).
Sample forms:
Fee Agreement
Engagement Letter
Essentials (choose 1):
1- Contract-based Estate Plan, including Powers of Attorney & "Back-up" Will
- $1000 for individual or $1,500 for married couple
- This approach relies solely on beneficiary designations.
2- Traditional Will-based Estate Plan, including Powers of Attorney
- $1000 for individual or $1,500 for married couple
- This approach relies on a traditional will for transfer of probate assets.
3- Living Trust-based Estate Plan, including All Supporting Documents
- $2,500 for individual or $3,000 for married couple
- This approach relies on a fully funded revocable trust to avoid probate.
Premium add-ons (optional):
A- Inheritance Protection Planning for Surviving Spouse
- Integrate A/B marital trusts to protect from future spouses and/or minimize estate taxes. $1,000
- Add individual revocable trust to protect separate property and/or integrate "SECURE Act compliant" trust provisions (conduit, accumulation, or charitable remainder) in order to restrict or protect inherited retirement accounts. $1,000
- Add "SECURE Act compliant" stand-alone IRA beneficiary trust or charitable remainder trust in order to restrict or protect inherited retirement accounts. $1,000
B- Inheritance Protection Planning for Non-Spouse Beneficiaries
- Restrict in response to an identifiable clear and present danger (spendthrift habits, special needs, susceptibility to undue influence, need to maintain beneficiary's qualification for government health benefits or supplemental income benefits). $1,500
- Protect from future threats (lawsuits, divorce, debt collectors); assumes beneficiary is or will become eligible to serve as trustee; recommended when inheritance from non-retirement assets is expected to exceed $100,000 per beneficiary; highly recommended if exceeds $250,000 per beneficiary. $1,500
- Integrate "SECURE Act compliant" trust provisions (conduit, accumulation, or charitable remainder) in order to delay, restrict, or protect inherited retirement accounts; recommended when value of retirement accounts exceeds $100,000 per beneficiary; highly recommended if exceeds $250,000 per beneficiary. $500
- Add "SECURE Act compliant" stand-alone IRA beneficiary trust or charitable remainder trust in order to delay, restrict or protect inherited retirement accounts. $1,000
C- Arizona-based Hybrid Asset Protection Trust
- An irrevocable trust can be designed to shield assets from future and unknown creditors. Although Arizona does not yet permit self-settled asset protection trusts like many other states do, you can establish a hybrid asset protection trust by transferring certain types of assets into an irrevocable trust and naming other people as beneficiaries (but not yourself). The types of assets you might transfer are non-retirement brokerage accounts, LLC membership interests, and real estate not subject to mortgage debt. Using a hybrid approach means giving an independent person or company called a trust protector the power to move the trust to another state or country that permits self-settled asset protection trusts (or simply wait until Arizona permits them). This change of governing law might permit the trust protector to add you as an eligible beneficiary later. $3,000
D- Beneficiary Deed
- For those who choose a contract-based estate plan, a beneficiary deed can be used to transfer a residence upon your death to a named beneficiary without being subject to court-supervised probate. Also requires payment of a $30 recording fee. $200
E- NFA Gun Trust
- For those owning a federally regulated NFA firearm, an NFA gun trust is used as an alternative to individual ownership. Its primary benefit is to expand the list of eligible persons who may possess, use, or transport an NFA firearm. Any current trustee is eligible including the initial trustee and any later named co-trustees. $500
F- Irrevocable Life Insurance Trust
- An irrevocable trust can be used to purchase a life insurance policy in order to exempt the proceeds from estate taxes. The insured person makes gifts equal to the premium amounts into the trust and then a third-party trustee uses the gifts to pay the premiums. The trust and the insurance policy are not considered to be assets of the insured person, so the proceeds are not countable for estate tax purposes when the insured person dies. $2,000
G- Powers of Attorney and Living Will Declaration (a la carte)
- This option is for those who need Arizona powers of attorney and nothing more. A general durable power of attorney names an agent to manage your property and financial affairs in the event of an extended incapacity. A health care power of attorney names an agent to make medical and mental health care decisions on your behalf if you become unable to communicate. A living will declaration is an optional document that usually directs your health care agent to decline the use of life-sustaining medical procedures in the event you sustain severe brain damage or become terminally ill and unable to give informed consent to medical procedures. $500
How to Calculate the Total Fee:
My fee quote will combine one of the essential base fee amounts plus any premium options you choose. For example, a common fee quote for a married couple is $5,000 ($3,000 living trust essentials + $1,500 inheritance protection + $500 SECURE Act compliance). But a simple will-based estate plan with outright distribution is only $1,500.
Why We Offer Fixed Fees:
I strongly prefer the use of fixed fees whenever possible because hourly billing doesn’t put the focus on what you really want - a “solution” to your problem, or a “vehicle” to help you realize a goal or objective. Whenever possible the price should reflect the value of the work, not the amount of time employed to finish it. However, there are some situations when an hourly billing rate makes better sense and for those situations my rate is usually $375/hour.
Do you simply want to update an estate plan prepared by another law firm?
If you wish to update an estate plan prepared by another estate planning lawyer within the past 10 years, then your project may be eligible for a reduced fixed fee. However, the regular fixed fee schedule is usually used when making any substantive changes to the structure or design of an estate plan prepared by someone else.
Fee schedule updates:
This fixed fee schedule was published on December 30, 2021. The next update is planned for September 1, 2023.
Payment methods:
We accept cash, checks, debit cards, and credit cards (including American Express).
Sample forms:
Fee Agreement
Engagement Letter