How much are estate lawyer fees?
How much are estate lawyer fees?
$200 – $400 cost per hour
$2,000 – $15,000+ average total cost
Average estate lawyer cost
Estate lawyer fees range from $200 to $400 per hour, or $2,000 to $15,000+ total on average. Some estate attorneys charge a flat fee of $1,000 to $5,000 for simple estate planning, while others charge a 1% to 5% fee based on the gross value of your home and assets.
Fee type | Average cost |
---|---|
Hourly rate | $200 – $400 per hour |
Flat rate | $1,000 – $5,000 |
Percentage | 1% – 5% estate value |
Average total | $2,000 – $15,000+ |
An estate attorney, or estate lawyer, helps clients manage their homes and assets before and after death.
Typical services include handling wills or trusts, power of attorney, tax planning, and avoiding probate court.
Hourly rate
The average estate lawyer's hourly rate is $200 to $400, depending on their experience level and how complex the case is. Most lawyers count their time in 6-minute increments, which is 1/10 of their hourly rate. Hourly rates are convenient for lawyers but can create uncertainty in clients.
Flat fee
Estate lawyers sometimes charge a flat fee of $1,000 to $5,000. Flat rates are usually only used for simple estates with fewer assets, while percentage-based fees are used more often on complex estates.
Percentage
Estate attorneys sometimes charge a 1% to 5% fee based on the estate's gross value. This means they'll bill you on the value of your home or assets without deducting any money left on the mortgage. Many firms have tiered systems for percentage-based fees, such as:
5% of the first $50,000
4% of the next $100,000
3% of the next $500,000
2% of the next $5 million
1% of the next $10 million or more
Estate attorney cost factors
The following factors affect the cost to hire an estate lawyer:
Location: Lawyers in urban cities typically have higher rates than in rural areas. Washington D.C. has the highest average attorney rates in the US.
Experience level: Junior members of a firm charge less than more experienced lawyers. However, experienced lawyers typically work faster and often have a higher success rate.
Estate size: Complex cases involving large estates and diverse portfolios may take longer and cost more than average.
Retainer fee: Some estate lawyers charge a retainer fee, which is essentially a down payment that covers the expected services.
Delays: If your case involves any disputes between heirs, errors in the death certificate, or a lack of a valid will, the case will take longer and may ultimately cost more.
Taxes: If your estate is worth over a certain amount, you could be subject to the following taxes:
Estate taxes: Your estate will owe 18% to 40% in federal estate taxes if it's worth more than $13.61 million for individuals or $27.22 million for couples. Some states charge estate taxes, too.
Inheritance taxes: States like Iowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania charge inheritance taxes. However, spouses and some immediate relatives don't have to pay.
Capital gains: You could owe taxes on assets that generate income. For example, if you're passing on your house, your family should either sell it as soon as possible or use it as a primary residence.
Other expenses
Your estate lawyer is also likely to charge extra fees for services such as:
Court filing fees
Expert witnesses
Private investigators
Paralegal assistants
Making copies of documents
Travel expenses
Estate attorney fees vs. other fields
An estate attorney helps manage a person's estate before and after death. Probate attorneys typically only handle assets after death, and other attorneys exclusively set up wills and trusts. The following table shows the average rates for services related to estates:
Service type | Average cost |
---|---|
Cost to write a will | $300 – $1,000+ |
Cost to set up a trust | $1,000 – $7,000 |
Estate lawyer cost | $200 – $400 per hour |
Probate lawyer cost | $100 – $500 per hour |
Real estate attorney cost | $150 – $500 per hour |
Estate lawyer FAQs
What does an estate lawyer do?
An estate lawyer helps families manage their homes and assets before and after death. They prepare clients to efficiently transfer their estate to heirs, avoid probate court, and minimize taxes. The duties of an estate attorney typically include:
Educating clients about the estate planning process and the laws that affect them
Creating a will, trust, or other legal documents
Advising on money-saving strategies
Guiding clients through the probate court, if applicable
Protecting assets from creditors
Do I need a lawyer to become executor of an estate?
Executors of small or simple estates may not need a lawyer. However, you should hire legal help if any of the following apply:
The estate is large or involves multiple assets like a home or business.
There are disputes between heirs or beneficiaries.
The estate will owe taxes.
You live in a state that requires an attorney for probate cases.
What percentage does a lawyer get for settling an estate?
Most estate lawyers charge hourly rates or flat fees, but some charge a 1% to 5% fee instead. This percentage is based on how much your estate is worth, and many lawyers use a tiered structure that charges a smaller percentage the more you're worth.
Getting estimates from estate lawyers
When looking for estate lawyers near you, follow these steps:
Compare reviews and estimates from attorneys on Lawful and Google.
Make sure they've passed the bar exam.
Choose a lawyer you're comfortable with and who fits your budget.
Pick a firm located near you if possible.
Get a written estimate and contract before they start.
Questions to ask estate lawyers
When looking for an estate lawyer, ask these important questions:
How much experience do you have?
How long ago did you pass the bar?
Do you give free consultations?
Can you take on my case at this time?
Do you charge an hourly rate, flat fee, or percentage?
Will you charge a retainer fee?
Can you help me avoid probate court?
Do you anticipate any delays in my case?
Will you give me an estimate and contract in writing?