One of the most frequent questions I am
asked is “How much does it cost to have an attorney draft a will in Tennessee?” People often believe that obtaining necessary
and important documents such as a Will, Power of Attorney, Healthcare Power of
Attorney
and Living Will is a very expensive
and complicated process. This is absolutely
not true! Many people are surprised when
I tell them the actual cost of having these documents prepared. With this in mind, I have decided to share my
pricing for these documents so that people can be properly informed on the
actual costs to have an estate planning package drafted by an attorney. The cost is very insignificant when compared
to the importance of having your final affairs in order.
For the vast majority of individuals, my
cost to prepare an estate package including a Will, Power of Attorney, Healthcare Power of Attorney and Living is a
flat rate of $350.00. I charge this
same flat rate for both single individuals and married couples. This is the total charge, which means for a
married couple, a total of eight documents would be prepared for $350.00.
As I have previously
indicated in my blog, all of these documents are essential for everyone to
have. This price assumes everything, with the exception
of signing the documents, can be done by email and telephone for the exchange
of information and discussion about estate planning decisions to be made based
on the individual circumstances. This is
generally a very easy process.
I have detailed questionnaires that you, and
if applicable, your spouse can complete on your own time to make all of the
necessary decisions. You can email, fax
or mail the questionnaires back to me once complete. From there, I draft the estate planning documents. I then send them to you for approval and will
address any questions you may have. Once
the documents are in final form, a meeting is scheduled at my
office in Nashville, Tennessee, to sign (aka “execute”) the documents. The execution of all the documents with a notary
and witnesses takes approximately 45 minutes.
Some people prefer to meet with me in person
to discuss strategy and decisions before the documents are drafted. That is completely fine, and I welcome the
opportunity to meet with you in person if you do not feel we can handle
everything by telephone and email. Should
you prefer a face to face meeting to discuss you estate planning needs, I
charge an additional $100.00 for the estate planning package, for a total flat
fee price of $450.00.
I want to point out that this is the general
pricing for the vast majority of people.
There are however certain situations which require more individualized
and complex estate planning considerations, such as estates with complicated
assets or potentially taxable estates. These
matters are generally handled on an hourly basis, although a flat rate could be
available depending on the circumstances.
In these situations, I will provide an estimate for the anticipated work
on the front end, if requested.
It is my hope this article sheds light on
the fact the estate planning process is relatively simple and is not as
expensive as you probably thought. If
you are in the Nashville or Middle Tennessee area and need an attorney to draft
your Will, Power of Attorney, Healthcare Power of Attorney and Living Will,
feel free to email or give me a call to discuss further.
