How Much Does Estate Planning Cost in Connecticut?

Estate planning is an important legal consideration for every Connecticut resident. It may be unpleasant for some people to think about death. The reality is that taking time to develop a comprehensive and legally enforceable estate plan will benefit your loved ones. Without an estate plan, they could face a difficult probate process. But how much does estate planning cost in Connecticut?

It’s natural to wonder how much you will need to invest for the peace of mind that a properly constructed estate plan can provide. Burns Thomas, LLC, can explain what your estate plan should include and help you create a plan that provides the legal protection you want for your family.

Benefits of Estate Planning in Connecticut

Do not make the mistake of assuming that estate planning is only for the wealthy, or that writing your own last will and testament will be enough to help your family resolve your estate after your death. Investing in professional legal counsel for estate planning will be well worth the expense when you consider the peace of mind it can provide to your loved ones after your death.

When a person dies in Connecticut without any estate plan in place, their estate is considered intestate. The probate process begins to resolve the estate. During probate, the court must review the full contents of the deceased’s estate, resolve outstanding debts using the contents of the estate, and then distribute the remainder to the surviving beneficiaries of the decedent according to Connecticut’s intestate succession laws.

Probate is notoriously tedious, time-consuming, and stressful, and it can also lead to conflicts among the beneficiaries of the decedent. They may disagree with the court’s decisions, contest elements of a last will reviewed during probate, or challenge the validity of creditors’ claims on the contents of the estate. Taking time to create an estate plan can help your family avoid such issues and resolve the legal aftermath of your death more easily.

How Much Does Estate Planning Cost in Connecticut?

The cost of estate planning in Connecticut will vary from case to case based on an attorney’s billing policy and the complexity of the estate. If you only wish to write a legally enforceable last will and testament, it is possible that an attorney may charge a single flat fee to accomplish this for you. If you have a more complex estate plan, they may charge an hourly rate for the time spent working on your estate plan.

Estate planning statistics from throughout the United States report that probate expenses could potentially cost up to 10% of the total value of an estate. Additionally, about 35% of US adults report that they or someone they know has experienced some type of family conflict due to a lack of an estate plan. When you consider the time investment and legal expenses of probate, the effort and cost of developing an estate plan will be small by comparison.

The attorneys at Burns Thomas, LLC, can help you develop an estate plan that provides peace of mind and security to your family, helping them to avoid a potentially messy probate process. We have years of experience with asset protection, creating wills and trusts, and assisting clients who control complex assets such as real estate, business investments, and cryptocurrency.

Investing in professional legal assistance with your estate plan can pay off tremendously for you and your family, preserving as much of your estate as possible and minimizing the chance for conflict in probate. If you are concerned about the cost of creating an estate plan with Burns Thomas, LLC, we can review our billing policy during a consultation. We develop individually tailored solutions to assist each of our clients in achieving their estate planning goals.

FAQs

Q: What Does It Cost to Hire an Estate Planning Attorney in Connecticut?

A: The cost to hire an estate planning attorney in Connecticut will vary based on the nature of the services you are seeking and the attorney’s billing policy. Many attorneys offer flat rates for specific legal services, such as writing a basic last will and testament. More complex estate planning may require hourly billing. General estimates are that a standard last will may cost anywhere from $300 to $1,000, and more complex estates can range from $2,000 to $5,000.

Q: What Should an Estate Plan Include?

A: An estate plan should include several legally enforceable documents. A basic estate plan should include a last will and testament that dictates how the estate owner wishes to distribute assets to their beneficiaries. An advanced care directive explains preferences for medical treatment, and a power of attorney allows them to designate a trusted representative to make legally binding decisions on their behalf.

Q: Can I Create an Estate Plan Myself?

A: While it is possible to write your own last will and testament, and you can find many software programs claiming to allow you to do this yourself, it is always advisable to work with an experienced attorney if you want to ensure your estate plan is legally enforceable. While you can write a basic template for your estate plan to present to an attorney, they can refine it and potentially help you cover issues you did not think to address on your own.

Q: Can I Change an Estate Plan After Writing It?

A: It is possible to change an estate plan after writing it, and in most cases, it is wise to regularly revisit an estate plan and ensure it still meets your needs and goals. Some elements of an estate plan, such as an irrevocable trust, cannot be modified once created. Consult an experienced estate planning attorney to learn more about your options for the type of estate plan you wish to create.

The attorneys at Burns Thomas, LLC, have years of experience assisting Connecticut clients with all types of estate planning. We take time to learn as much as we can about our client and their needs and goals to develop truly individualized estate plans. We understand this is a difficult process and can provide the guidance and support you need to feel confident about your estate plan. Contact us today to schedule a consultation with our team and learn how we can help.