A couple sits in my office, having seen online services that promise a will for a few hundred dollars. They’ve also heard from friends that a proper trust costs a fortune. So their first question is direct: “How much does this cost?” The answer isn’t a single number. The cost of an estate plan is not about the documents—it is about the future you are building for your family.
The price of a simple will for a single person with one bank account will be very different from the cost of structuring a multi-generational trust for a family with a business and property in Brooklyn. One is a straightforward instrument; the other is a complex plan for stewardship. Asking about the cost before defining the goal is like asking a builder the price of a house without telling them how many rooms you need.
The Difference Between a Document and a Plan
Many people mistake a last will and testament for a complete estate plan. A will is a critical component, but it is only one piece of a larger strategy. A will directs assets, but it does so through the probate process—a court-supervised proceeding that can be time-consuming and public. For many of my clients, especially those concerned with privacy and efficiency, a plan centered around a trust is a more prudent path.
Our work is not about selling documents. It is about designing a plan that reflects your intentions. This involves:
- Asset Analysis: Understanding what you own, how it is titled, and where it is located.
- Beneficiary Designation: Ensuring retirement accounts and life insurance policies are aligned with your overall plan, a detail often overlooked.
- Contingency Planning: Appointing a durable power of attorney and a health care proxy to act for you if you become incapacitated. This is not about death—it’s about protecting your autonomy during your life.
- Fiduciary Selection: Helping you choose the right person or institution to serve as executor or trustee—a role that carries significant fiduciary duty.
When you see a price, you are seeing the culmination of this counsel. It reflects the time, experience, and deliberate thought required to build a structure that stands up to scrutiny and protects your loved ones.
Flat Fees vs. Hourly Rates
At my firm, we believe in clarity. For the vast majority of foundational estate plans, we work on a flat-fee basis. After our initial consultation, we will quote you a single, fixed price to create your will, trust, power of attorney, and health care proxy. You never have to worry that calling us with a question will result in a surprise bill. Our interests are aligned: to create the most effective plan for you, not to count the hours it takes to get there.
An hourly rate makes sense only when the scope is unpredictable. This often involves probate litigation, complex trust administration, or representing a client in a contested matter before the Surrogate’s Court. In these situations, the work is reactive and depends on the actions of other parties or the court. We are always transparent about when and why an hourly arrangement is necessary.
The True Cost of Inaction
The most expensive estate plan is the one that was never created. When a New York resident dies without a will, their estate is declared “intestate.” Their assets are then distributed not according to their wishes, but according to a rigid state formula found in the Estates, Powers and Trusts Law (EPTL) § 4-1.1.
A judge who never met you will use this statute to divide your property among your legal relatives. A long-term unmarried partner may receive nothing. A beloved charity will be ignored. A strained relationship with a legal next-of-kin has no bearing on their inheritance. The process is impersonal and can take months, or even years, to resolve, all while legal fees and court costs diminish the assets you worked a lifetime to build.
Stewardship. That is the core of our work. The fee for creating a plan is a small investment to prevent the emotional and financial chaos of intestacy. It is the cost of ensuring your intentions are honored and your family is cared for, without the intervention of a court.
If you are ready to move from ambiguity to a clear path forward, the next step is to prepare a simple list of your major assets and your primary goals for them. With that information in hand, you can schedule an initial call with our firm where we can discuss the appropriate structure for your legacy.
