No two wills of the same type are the same; additionally, several different types of Will exist. So when someone asks about the price of a Will, you’ll want to get a little bit more information regarding what it is they are looking for, specifically.
Typically, a person would be looking for a simple or basic Will that designates assets to a beneficiary after the owner of the Will dies. Though, possibly, they mean a Living Will: the documentation that expresses wants and wishes should the person become medically or otherwise incapacitated and deemed unable to communicate their best interests expressly.
How Much Does a Basic Will, or Last Will and Testament Cost?
In estate planning, no plan comes in ‘one-size-fits-all,’ Therefore, there is no set price for a Will as it is a complicated and varying legal document. Some lawyers charge by the hour, while some have flat rates.
A typical simple or basic Will in Texas will average between $250 and $2,500 or more. This range reflects the differences between the estates that the Wills would concern with and the experience or prestige level of the lawyer who draws up the Will. A more experienced, reputable lawyer will charge more, typically at a minimum of $500, to properly draft and execute the Will.
What is the Price of a Living Will
In Texas, the average price of a professionally drawn Living Will is between $2,500 and $5,000+, depending on the experience of the attorney in charge of the Living Will’s draft.
A Living Will can include medical directives. If these are not completed properly, the medical care provider or insurance will not enforce them, and they will not be considered effective to the patient being treated. As such, the lawyer must do more work to complete the documents, and therefore a reputable attorney typically charges at least $2,000 for this service.
How Can I Get One of These Types of Wills Drafted?
Once you decide, hopefully with the assistance of a qualified attorney, which Will you need to put in place, it is time to create the document. You may not be to this point yet, but no matter where you are in the process, the firm at Rainey & Rainey, Attorneys at Law, LP, is waiting to schedule you for an initial consultation today at (254) 457-5083.