My mom just had this done and she was charged $1,100.
I was planning on using the same lawyer to do some other work for me but I’m trying to figure out if that’s an average price or on the pricey side.
What do you all think. I’m in Georgia , by the way . If that makes any difference.
A lot depends on how detailed/complicated , what "extras" you want it also depends on how experienced the attorney is and how large the law firm is. Not to mention where the offices are. Large city, higher rents, small town, lower rent
Price depends what type of Attorney you would use, and how complex is your Estate. If you use a specialist, such as an Elder Law Attorney, that Attorney will charge you more. I went with such an Attorney and she keeps us up-to-date on any changes in State or Federal Laws which would affect our current legal documents, which would require updating.
Price also depends on location. I live in a large metro area, so costs would be higher. Plus I used an Attorney who is part of a large law firm. I did that so that if my Attorney should retire or move, the firm can assign me another Elder Law Attorney. And the firm has other specialized Attorneys in case we should need their expertise.
I am not a big fan of one using on-line legal documents. For example, my Power of Attorney is 18 pages long. Doubt if a on-line document would be that complex, covering all bases. There are also other legal documents that you should have that are very important. Don't know if an on-line website would discuss this with you.
My parents had used their real estate Attorney to do their POA and Wills. I finally read their Wills which were older than dirt, and had a lot of landmines. I quickly got them to my Elder Law Attorney. Their Estate was complex to a point where a Will wouldn't be enough, they needed a Revocable Trust. Whew, that was a close call.
There's the old saying "you get what you pay for". Check with your friends to see what Attorneys they had used.
The Advance Directives are almost more important for those who DON'T want the heroics that automatically kick in with any medical emergency. MDs and emergency personnel rely on and follow the AD documents and they provide needed guidance for acting MPOA.
What makes everything truly simple is a plan to avoid probate by assigning a beneficiary and one alternate to every asset, incl vehicle title and a TOD (transfer on death) on the bank account(s).
My folks did their own too and everything was in good order. If only everyone were as pro-active in having everything properly taken care of for the 'just in case' issues that life throws our way.
However, we were quoted 12k by a couple of attorneys and we interviewed +/-12 "Elder Law" attorneys. We ended up using a Certified Elder Law Attorney and he was 10% of the highest quotes and a thousand times more knowledgeable. He is part of a firm that will be there long after we are gone, that is important to us.
I recommend interviewing attorneys just like you would any other employee, because they are suppose to be working for you, in your best interests. Finding the best qualified just makes sense.
I think the price really depends on too many factors to know if it is fair or average in your state.
However, an Advance Directives can be done in a Drs office, at home with downloaded forms, completed by any SW in a hospital or care care setting - and it's free. All issues and decisions should be discussed with the assigned MPOA(s) and signed by everyone with copies provided to all offices and agencies involved in medical care.
For a DPOA, if the estate is small and relatively simple, it can also be done by the above named people and means, excluding physicians. The best is to have a 'Self-Proving Affidavit' attached to the POA, meaning that it's signed by 2 uninterested parties and properly notarized. The attached will make the DPOA valid in all states if needed for later out of state property sales, portfolio access, bank accounts, and the like. My Mom's was executed at the NH she was in and it has stood up for the above-mentioned purposes.
Many online legal self-help sites allow you to do these things for free or for very minimal cost; you can do an online search for template forms (images) to download and print. Having it all done by a lawyer is easier and while costly, assures that all is done properly and everyone served with copies.
Print all of the POA and Advanced Directive paperwork from the internet.
Then, have it notarized. But, do it as quickly as possible, While your loved-one is still able to understand.
Be aware that many banks and investment firms require separate POA forms specific to their institution for any financial actions to be conducted by a POA.
Be aware that many banks and investment firms require separate POA forms specific to their institution for any financial actions to be conducted by a POA.
Best wishes to all who are missing loved ones...My 1st Christmas w/out my beloved of 30 yrs.
We the met with him when all the ducks were in a row. He had the will bound and organized and notarized. He gave us a lot of info which we would never have thought of.
2 hours of 'his' time. $1500. We have to re-vamp the will this year as DH is retiring, we're going to start taking our annuities payout and we bought a new home. Enough things have changed that we need a 'new' will.
I think $1100 is about the going rate. But it's completely worth it!!
My son's an atty and we don't have him do a single thing for us, ever. Better to now use family, I think. He charges based on the amt of time & work. But I think the standard rate is about $1500 (he's in the PNW)