You May Not Want the Cheapest Estate Plan

Shopping around is a popular pastime of Americans.  However, price may not be best judge of value when it comes to estate planning.

Consumers of legal services are not much different than price-conscious retail shoppers.  However, price should probably be balanced with higher quality product in order to get a true value, according to CNBC in “How to protect your family beyond death — without losing your shirt.”

You can get an estate plan online for a relatively cheap price. However, that estate plan might include far less than what you really need. This can lead to problems for your estate after you pass away. Those problems will be far more expensive to fix, than hiring an attorney now to get the appropriate plan for your estate.

How much you will have to pay an estate planning attorney generally depends on the complexity of your situation, as well as the attorney’s experience and local market conditions. If you have a complex estate with many assets, you will most likely pay more for an estate plan.

It is prudent to consider pricing when it comes to services, but it is most likely a good idea to retain an estate planning attorney to advise you on creating an estate plan that fits your unique circumstances.

Reference: CNBC (April 26, 2018) “How to protect your family beyond death — without losing your shirt.”