Asset Protection & Charitable Giving Guide
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Costs of Estate Planning COSTS OF ESTATE PLANNING WE ALWAYS OFFER A FREE, NO-OBLIGATION CONSULTATION ON ESTATE PLANNING Fees for estate planning services vary. Depending upon what must be done, depending upon the size of your estate, depending upon the attorney or financial planner used, fees can vary substantially. For comparison, here are the fees presently being charged at POSTIC & BATES as of January 1, 2003:
Separate trusts for a married couple $1,800 The fee includes all consultation, document preparation, review and explanation as well as execution in our office. There will be an additional fee for signings occurring outside of our office. The fee does not include any filing or transfer fees for transferring property to the trust(s). In Oklahoma, deed filing fees are $8.00 for the first page of a document and $2.00 for each additional page as well as a $5.00 per document preservation fee. Generally, the costs per county for filing a deed and memorandum of trust are a total of $34.00 to $36.00. The fee also includes a complimentary last will and testament, a durable power of attorney, a nomination of guardian, an advance directive for health care, and the preparation of all deeds necessary to transfer property to your trust. The attorney's fee must be paid in advance. We will bill you for the filing fees at the time your documents are signed. If additional fees are incurred in filing your transfer documents, we will bill them to you.
The fee includes all consultation, document preparation, review and explanation, and execution in our office. There is an additional charge for execution outside of our office. There are additional charges for inclusion of guardianship language for minor children (generally around $25.00), and for trust provisions (fees vary up to $500.00). Additionally, equipment is available for videotaping the execution of the document in the event questions may be raised regarding the competency of the testator. The fees for this document are payable in advance.
The fees for probate vary, depending upon the extent of the estate and the work to be done. The minimum fee does not include filing and publication fees, which generally run around $200 to $300. A $1,000 to $1,500 down payment is usually required to retain this office to handle a probate case. In some instances, dealing with larger estates or anticipated contested matters, a larger fee down payment may be required and a larger fee may be charged. Usually, our office also prepares the Oklahoma estate tax return. The balance of the fee will usually be billed to you at the time of the completion of the final account or petition for distribution. However, additional fees can be billed to you during the progress of an unusually long or difficult probate case. In addition to the fees for handling the probate itself, the following fees are charged for preparation of various tax documents associated with an estate: Federal estate tax return $400.00
The fee, which is payable in advance, includes all consultation, document preparation, review and explanation, as well as execution in our office. It also includes the $100.00 statutory filing fee to the Secretary of State. If your estate plan will involve more than one limited partnership, the fee for additional limited partnerships can be reduced, depending upon the nature and purpose of the additional limited partnerships.
The fee, which is payable in advance, includes all consultation, document preparation, review and explanation and execution in our office. We will also assist in the transfer of property from your individual names to the name of the trust.
The fee, which is payable in advance, includes all consultation, document preparation, review and explanation and execution in our office. We will also assist in the transfer of property from your individual names to the name of the trust and assist you in preparing your own Letter of Intent to assist your successor trustees in caring for your disabled relative.
This is a "turn key" price for a corporation, payable in advance. The fee includes all consultation, document preparation, review and explanation, and execution in our office. It also includes payment of the $50.00 statutory filing fee with the Secretary of State. We also provide you with a corporate minute book, shareholders' ledger, and pre-printed stock certificates. We will prepare the certificate of incorporation, by-laws, and initial minutes to properly form your corporation under Oklahoma law.
This fee is for a revocable trust to be used solely for holding your personal residence and is useful for those persons who have designated beneficiaries for their other assets, but still own their home. The fee does not include filing fees for a deed and memorandum of trust, which generally runs $34.00.
This fee includes all consultation, document preparation, review, explanation, and consultation related to the creation of an irrevocable charitable remainder trust. Additional fees may be involved in transferring or redesignating assets to the trust.
This fee includes the preparation of both a revocable living trust (and its associated documents), as outlined in item 1, above, and an irrevocable life insurance trust, as outlined in item 7, above. This reduced fee is only available for those clients wishing to have these documents prepared at the same time. The fee to prepare these same documents for a single person is $1,500.00. For additional information on all aspects of estate planning and asset protection, contact: Postic & Bates © 2003 by Martin Postic, Jr. |
