Everyone should consider creating an estate plan, regardless of their age. These plans can not only benefit you, but also your loved ones. Even if you believe you do not have enough assets to worry about, creating an estate plan can do more than just pass on property. With a proper plan, you can also make decisions about future medical care and finances if something should happen to you. Unfortunately, many people fail to create estate plans because they believe the process is too expensive. However, as you will see below, you should not let this reason stop you from planning for your future.
What Factors Affect the Cost of an Estate Plan
The price of creating an estate plan will usually depend on several factors, including the complexity of the plan, the size of the estate, and the location of the estate.
The Estate’s Size
The size of the estate will usually dictate how involved an estate plan will need to be. If an estate is small, it will generally require less time to set up and, as a result, be less expensive. In comparison, the larger the estate, the more time it will take to set up an estate plan. It will include more paperwork and a more detailed analysis may also be needed.
The Estate Plan’s Complexity
The level of complexity of the estate plan can impact its costs. For example, plans that include numerous types of investments, real estate, and financial matters may require more resources and time to plan for an appropriate distribution, leading to higher costs.
The Estate Location
If an estate includes assets that are in different states or even different countries, it can complicate matters. These types of situations may require a more costly plan to protect the estate and ensure it is appropriately distributed.
The Documents Included In Your Estate Plan
The more documents you need to include in your estate plan, the more likely the fee will increase. However, reviewing your plans with an experienced Northern Virginia estate planning lawyer can help you determine which documents are needed to provide you with the most protection.
The Lawyer’s Fees
A lawyer’s fees are also a significant factor in the costs related to estate planning. However, how much these lawyers charge will depend on their location, experience, and several other factors.
Contact Ardent Guardian To Go Over Your Estate Planning Options
At Ardent Guardian, our legal team has extensive experience dealing with legal and financial matters. As a result, we provide a diverse range of services in Northern Virginia, including estate planning, probate administration, and several other services. However, what really sets our firm apart is our transparent pricing and flat fees/ packages across all the services we provide.
If you are looking to create an estate plan in Northern Virginia, contact Ardent Guardian today or call us at 703-592-6774 and learn more about how our legal team can help you plan for the future.