How Much Does Estate Planning Cost In Florida?

Contrary to what many people think, estate planning is not reserved for only celebrities or wealthy individuals. In fact, every adult should draft an estate plan to protect themselves and their loved ones in the event that they pass away or become incapacitated.

As important as estate planning is, many people still put it off. There are many reasons for delaying estate planning. Some people find it too uncomfortable to talk about death, while others believe the process is going to be too expensive. In regards to the latter reason, it is fortunately not true. Although no one can determine exactly how much it will cost to plan your estate, there are certain guidelines you can follow. Below, our St. Petersburg estate planning lawyer outlines what these are.

What Factors Affect the Cost of Estate Planning? 

Generally speaking, estate planning packages in Florida cost between $1,000 and $4,000. However, the total cost you pay could be more or less than this, depending on your specific needs and the needs of you and your family.

For example, if you have minor children but few valuable assets, you may only need to draft a will. A will allows you to name a guardian for your children and can stipulate how you want your property distributed after you pass away. If you only need to draft a will you can expect it to cost anywhere between $300 and $1,000. If you require a plan that is more complex, involving trusts or complicated tax scenarios, estate planning can cost up to $10,000 or more.

Can You Save Money By DIY Estate Planning? 

There are many do-it-yourself estate planning templates online. For many, it is tempting to use these and potentially save costs rather than work with a St. Petersburg estate planning lawyer. While these templates and forms may seem more affordable and convenient, this does not mean they are the right option for planning your estate.

Online templates are meant to be very generic, meaning they may not comply with state law in Florida. When that is the case, your wishes may not be respected. Additionally, while you may know that you want to draft certain documents, such as a will, you may overlook others that are just as important, such as a power of attorney or a healthcare directive. These documents can protect you in the event that you become incapacitated.

Although online templates may have fewer upfront costs, the mistakes that could result from using them could cost you even more in the end. Working with a St. Petersburg estate planning attorney can ensure no mistakes are made, that your estate plan complies with state law, and that ultimately your wishes are respected.

Call Our Estate Planning Attorney in St. Petersburg Today 

When drafting your estate plan, it is always recommended that you work with a St. Petersburg estate planning attorney. At Legacy Protection Lawyers, LLP, our seasoned attorneys will listen to your needs and ensure your documents are executed properly so you and your family are protected. Call us today at 727-471-5868 or fill out our online form to schedule a consultation and to get the legal help you need.

Source:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html