Ask Me Anything "EPISODE 33" | Erica Endyke
Question: How much does it cost and what should be included? Answer: If you call an attorney's office and ask how much an estate plan cost and you're given a flat fee, it's a red flag. If you do get this response, you're being sold a boilerplate set of documents and I just can't phrase it in any other way.
At my office, we start with what we call a planning session which will first of all help you become more financially organized than you ever have been before but also educate you about what you need to put in place to protect your family the way you want them to be protected. And at that planning session, you actually choose your fee and likely you're going to choose a package that costs anywhere from $1,500 all the way to $7,000 but we do try and price those based on the intersection of affordability and your budget and your goals but you're going to choose it based on what's most important to you. Now all of our plans do include substantial extras that are not going to be included with most documents only attorneys. All of our plans include three-year follow-up reviews so that we stay with you and your plan stays updated as your life changes. All of our plans for those with minor children include a kids protection plan so that your children are never taken under the care of strangers if anything happens to you. All of our plans include asset inventory so that nothing is lost to the Massachusetts Department of Unclaimed Property when you die. All of our plans ensure that your assets are titled properly in the right names and this will ease the transfer of the assets when the time comes.
We're going to make sure this all gets done and we're going to make sure all gets done efficiently. We'll also include letters to your agents or fiduciaries to make sure they know exactly what to do when the time comes and all of that's included at no additional charge because we see planning as a holistic experience and not something that's just a set of documents you're going to get and then put on a shelf and never look at it again because that is the quickest way to land your family in court when the time comes.
If you have any other questions about my fees or processes, just feel free to reach out.
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