Estate planning in Massachusetts 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.
Trust creation
- Setting up a trust might cost about $1,000 or more.
Will writing
- Writing a will might cost around $500.
Healthcare directive
- Making a healthcare directive could be between $250 and $300.
Power of attorney
- Setting up a power of attorney could be about $375.
These are average costs. The actual price can change based on your specific needs.
1. Initial consultation: often free, but can be $100 to $500
Most lawyers in Massachusetts 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: $900 - $4,950
Drafting an estate plan means making important documents. These include a will, trust, power of attorney, and health care directive.
In Massachusetts, the total cost to make these documents can run from $900 to $4,950 or more. This depends on how complex your estate is and the lawyer's experience.
Making a will can cost $250 to $1,000.
Trusts are usually more expensive. A simple trust can cost $900. A more complex trust with lots of complex assets (such as businesses) can cost around $3,450, because it involve more work for your attorney to set up.
At Snug, making a Power of Attorney and Health Care Directive is free for all members. A Will costs $195. A Trust costs $500.
3. Document review: $450 - $2,000
If you need to check or change your estate planning papers, lawyers in Massachusetts usually ask for $450 to $1,700. This price changes based on how many documents you have and how big the changes are.
Simple changes, like updating a name or address, might be cheaper. More complex updates, like changing beneficiaries or asset distributions, could cost more because they need more work.
At Snug, you can upload your existing estate planning documents. We'll give you a personalized plan to update and maintain each document.
4. Individual document preparation: $150-$500 per document
In Massachusetts, the price to make one document, like a will or power of attorney, is between $150 to $500. (Trusts can cost a lot more.)
The cost of each document varies based on how complex the document is and your lawyer's fees.
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 make single documents or full estate plans anytime. Making a Power of Attorney and Health Care Directive is free for all members. A Will costs $195, and a Trust costs $500. This option can save money for many families and ensure everything is taken care of.
5. Trust administration: $1,350-$4,950
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 Massachusetts, the cost for this work can be $1,350 to $4,950 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 Massachusetts 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, 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: $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 Massachusetts, the average cost for probate can be $2,700 to $6,950 or more.
Probate lawyers might also charge a percentage of the value of the estate.
7. Hourly legal advice: $150 - $500 an hour
For ongoing advice or assistance from an attorney, you may be charged an hourly rate. In Massachusetts, an estate planning attorney typically charges between $150 and $500 per hour.
8. Flat fee services: $250 - $3,450+
Some attorneys offer flat fee services for specific tasks, such as preparing a basic will or trust. In Massachusetts, an estate planning attorney typically charges between $250 and $3,450 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 Massachusetts, 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: $10 - $50
Lastly, many estate planning documents require notarization. In Massachusetts, you can expect to pay between $10 and $50 per document for notary services.
