ESTATE PLANNING SERVICES
*During the COVID-19 pandemic we are offering a 25% discount on estate planning services to everyone who works in health care.*
ESTATE PLANS
We have three options for estate plans. Because we strive to make estate planning easy on our clients, almost all plans are completed in 2-3 meetings.
(1) Our Classic Estate Plan is $3,500 for a couple and $2,200 for an individual.
(2) Our Simple Estate Plan option is $2,750 for a couple and $1,500 for an individual. This option is appropriate for clients who only need two meetings with our attorneys and who opt to complete their second meeting with our trust funding specialist, who is an associate attorney. This option is likely to work well for you if you are very clear about your estate planning goals, and do not have one of the following situations: real estate owned with persons other than your spouse, a complex distribution (inheritance) plan, restrictions on your spouse’s inheritance, and plans with beneficiaries that need ongoing support.
(3) Our Super-Simple Estate Plan option is $2,000 for a couple and $1,000 for an individual. This option is for a plan to be completed in a single meeting. This option is appropriate for clients who can complete our intake form on their own—a great option for clients who know who will be their successor trustees and have a very straightforward distribution plan.
All Estate Plan packages include a Living Trust, Certificate of Trust, Deed, Will(s), Power of Attorney(s), Advance Health Care Directive(s), Guardianship Nomination, and Power of Attorney over Child Care, and a Caregiver Affidavit. Recording of the deed for your residence and Special Needs Trusts are included at no additional fee if needed.
Complex/Additional Documents
For those needing additional documents or services the fees are as follows:
(1) Post-marital or Cohabitation Agreements are $950 per document.
(2) Separate Property Trusts are $500 per trust.
(3) Special Needs Trusts are always free when part of an estate plan.
Insurance Covered Plans
For all insurance plans, the property recording, and notary fees are not covered by insurance. The fee structure is as follows:
(1) The property recording fee is $150 dollars and notary fees are $15 per signature.
(2) In most cases, those fees total $225 for an individual and $300 for a couple.
(3) If you have a “will only” plan you will also pay the fee to add a trust which is $1250 for a couple and $950 for an individual.
Amendments and Restatements
The fee for an amendment or restatement of an estate plan drafted by Summerall Law is $500.
The fee for an amendment or restatement of all other plans is approximately 25% off the applicable Estate Plan price listed above and depends on which option the client selects for completion of the restatement:
(1) For restatements requiring multiple meetings with a senior attorney: $2,500 for a couple and $1,500 for an individual.
(2) For restatements completed in one meeting with a senior attorney and one meeting an associate attorney: $2,000 for a couple and $1,125 for an individual.
(3) For restatements that require only one meeting – meaning the intake form is completed in advance of the only meeting with an attorney the fee is $1,500 for a couple and $750 for an individual.
This fee difference between updates for Summerall Law plans and other plans reflects the additional time it takes for us to become familiar with a new client’s goals and their preexisting documents.
Trust Review
If you would like us to review a trust created by a different attorney and advise you on potential issues with the trust, our fee is $500. Many clients use this option to understand the trust of a parent or family member that impacts them. The fee includes a review of the trust and a 60-minute meeting between attorney and client to highlight issues with the trust. The trust should be provided in advance. If the client (or their parents) elect to engage Summerall Law to restate the trust their trust then the Trust Review fee is waived.
Fire, Police, Teachers and Veteran Discounts
We gladly provide a 10% discount to veterans and all those who serve our communities through the military, fire and police departments, and by teaching in public schools (K-12).
For all health care workers, we are offering a 25% discount on our plans. We are offering this broadly to anyone who is on the front line of this crisis including all administrative staff or other health care staff.
PROBATE ADMINISTRATION
Overview
The fees an attorney is paid to handle a probate administration are set by statute. There are also costs to a probate which include filing fees, probate referee fees, and publication fees, that total about twenty-five hundred dollars ($2,500) per case. These are paid directly to the court.
The Math
California law says that the way to calculate the compensation the attorney receives for their time on a probate administration is based on the following fee schedule:
(1) Four percent on the first one hundred thousand dollars ($100,000).
(2) Three percent on the next one hundred thousand dollars ($100,000).
(3) Two percent on the next eight hundred thousand dollars ($800,000).
(4) One percent on the next nine million dollars ($9,000,000).
(5) One-half of 1 percent on the next fifteen million dollars ($15,000,000).
The Bottom Line
In simplified terms this means, for a million-dollar estate, the probate fees and costs will be approximately $25,500. For a five hundred-thousand-dollar estate, the fees and costs will be approximately $15,500. These fees are paid by the estate and the personal representative does not need to have funds to start a case.
We are currently running a promotion where we will reduce our fees by five hundred dollars ($500) for any probate administration where the decedent died owning real property that is included in the probate estate.