Estate planning in Texas usually costs $1,000 - $5,000, including attorney fees. But these costs can vary depending on how complex your estate is, and which documents you create. Setting up a trust might cost about $1,000 or more.
1. Initial consultation: $100 - $500
Most lawyers in Texas don't charge for a first consultation. It's a chance to talk about your needs and learn how they can help.
For lawyers that do charge, the fee is typically $100 to $500.
At Snug, you can get started without paying. You pay only when your documents are ready to be completed.
2. Estate plan drafting: $1,050 - £7,000
Drafting an estate plan includes making important documents like a will, trust, power of attorney, and health care directive.
Documents like a power of attorney and health care directive make your wishes clear while you are alive. A will and trust guide how your estate is managed and shared after you die.
The total cost to draft these documents can range from $1,050 to $7,000 or more in Texas. This depends on how complex your estate is and the lawyer's experience.
Creating a will can cost between $300 to $1,400. Setting up a trust usually costs between $1,050 and $4,900.
At Snug, any member can create a Power of Attorney and Health Care Directive for free. A Will costs $195 and a Trust costs $500. For many families, this is a great option to get you fully covered and save some money while doing it.
3. Document review: $500 - $2,800
If you need to check or change your estate planning documents, lawyers in Texas usually charge from $500 to $2,800. The cost changes based on how many documents you have and how much needs to be updated.
At Snug, you can upload your documents for analysis. You will get details about each document and a customized plan to update and keep them current.
4. Individual document reparation: $150 - $700 each
The price to make one document, like a will or power of attorney, is between $150 to $700. This cost varies based on how complex the document is and the lawyer's skill. Trusts often cost more.
If you already have some estate planning done and just need a few more papers, this could be a good choice. But, making all documents at once is usually cheaper.
At Snug, you can create individual documents or entire estate plans whenever you want. Any member can create a Power of Attorney and Health Care Directive for free. A Will costs $195 and a Trust costs $500. For many families, this is a great option to get you fully covered and save some money while doing it.
5. Trust administration: $1,550 - $7,000
When the "grantor" (the person who made the trust) dies, the trust has to be "administered", which means managing its assets and distributing them to the beneficiaries according to the instructions in the trust.
In Texas, the cost for this work can be $1,550 to $7,000 or more. It depends on how complex the trust is and what needs to be done.
This fee can pay for:
- making a list of all assets in the trust — this includes things like houses, bank accounts, investments, and personal items
- valuing assets, if needed
- paying any debts or bills the trust owes
- filing tax returns
- distributing the assets left to the beneficiaries — this might involve drafting new legal papers or working with banks to change account owners (this is called "transfer on death", and Texas has specific laws about it)
- dealing with legal problems — if someone contests the trust, the lawyer might need to defend it in court
The cost of maintaining a trust in Massachusetts: usually a percentage of assets
A trust needs regular care to keep working as it should. This includes some ongoing costs.
Running costs: 0.5% to 2% of the trust's value
Trustees, who take care of the trust, get paid. They might get a set fee every year or a part of the trust's value. In Texas, this is usually 0.5% to 2%.
Investment fees: 0.25% to 1% of the money being managed
If the trust makes money through investments, there are fees for that. These are usually 0.25% to 1% of the money being managed.
Legal and accounting help: can be $2,000 to $5,000
The trust needs to keep up with laws and keep its books in order. This means paying for legal and accounting help every year, which can cost $2,000 to $5,000.
6. Probate
6. Probate: $2,700 - $6,950
Probate is the legal process a person's estate goes through after they die. It involves:
- checking that the will is valid
- listing and valuing the assets in the estate
- paying off debts and taxes
- distributing the assets in the estate
- handling any legal disputes over the will
Some of these things can be complicated. For example, if the estate includes complex assets like businesses, the valuation part can become difficult and time-consuming.
This difficulty can be reflected in the costs. In Texas, the average cost for probate can be $3,150 to $9,800 or more.
Probate lawyers might also charge a percentage of the value of the estate.
7. Hourly legal advice: $200 - $400
For ongoing advice or assistance from an attorney, you might be charged an hourly rate. In Texas, an estate planning attorney typically charges between $200 and $400 per hour.
8. Flat fee services: $400 - $3,500
Some attorneys offer flat fee services for specific tasks, such as preparing a basic will or trust. In Texas, an estate planning attorney typically charges between $400 and $3,500 or more, depending on the complexity of the task.
9. Court fees: $100 - $500
If your estate planning involves court proceedings, you'll have to pay court filing fees. In Texas, court filing fees can range from $100 to $500 or more.
Court filing fees are affected by:
- how complex the estate is
- the type of court process needed
- the estate's value
- any extra steps the court needs
Different jurisdictions might charge different amounts, and for some estates you'll have to file more than once. All of these things can increase the cost.
10. Notary fees:$6 - $15
Lastly, many estate planning documents require notarization. In Texas, you can expect to pay between $6 and $15 per document for notary services.
