Is estate planning expensive?

The cost of estate planning varies depending on the complexity of your wishes and assets. In Pennsylvania, most estate planning services offered by an attorney range from $500-$5,000. The cost of estate planning depends on the steps you need to take to carry out your estate plan. Additionally, the complexity of your assets and the number of documents needed to complete the estate plan can impact the cost. For instance, if your assets are simple and you only need a will and durable power of attorney, the cost might be much less than if you have multiple assets and need to set up a trust. Keep in mind that some types of trusts enable you to save money on taxes and they may provide added protection for assets. If you have minimal assets, you may be able to save money by completing an estate plan on your own. For example, there are ready-made wills, living wills, and durable powers of attorney you can purchase online or from stationery stores. However, if you have a significant amount of assets or a more complicated situation, it is highly recommended to seek the advice of an estate planning attorney. Overall, estate planning can be expensive, but it can be worth the cost to make sure your wishes are carried out and your assets are protected. Some people may not need a full estate plan, but it is important to remember that estate planning is more than just drafting a will; it is critical for any family to have an estate plan that meets their unique needs.

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Is estate planning expensive?

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