Is estate planning expensive?

The cost of estate planning depends on the complexity of an individual’s unique situation. Generally, estate planning in Maryland is not overly expensive. In most cases, the total cost of estate planning is typically less than the value of the assets that are protected. For simpler estate plans in Maryland, a basic will and other documents can cost a few hundred dollars. These documents typically include a last will and testament, a power of attorney, and a living will. When seeking out an attorney, it is important to compare rates and services so that you get the best value for your investment. However, more complex estate plans in Maryland require more legal advice and may include several documents, like trusts. Furthermore, other procedures such as establishing guardianship for minor children or protecting business assets, may add to the cost. In these cases, a qualified attorney is required to ensure that the estate plan is compliant with state and federal laws. Overall, estate planning in Maryland can cost anywhere from a few hundred dollars to thousands of dollars depending on the scope of work and complexity of the estate. While estate planning may seem expensive, it is an important step to ensure that one’s assets are protected and that their wishes are followed after they have passed away.

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