Question for Lawyers

comosean · March 2012

I know that everytime someone asks how much something should cost we all answer it depends on where you live but I'm going to take a shot at this anyway. DH and I need to have wills done. Our financial advisor recomended a lawyer who will do both of our wills, health care power of attorneys, and legal power of attorneys for $450, is this a good rate? We live in Rhode Island so it's a pretty high COL area.. TIA

lujain · March 2012

We paid $1000 to have similar documents drawn up. That was a discounted rate for using a friend of a friend. We also live in a HCOL area.

Xles10 · March 2012

That sounds like a really fair rate for me. I'm a lawyer, but I have no idea what that should cost. All I know is that my financial advisor gave me some lawyers to call who could do that stuff for me and my husband and set up a trust and it was $3000-$4000. Maybe it's because of the trust, I don't know. But I think under $500 to do all that you've listed is fair.

jess9802 · March 2012

That is about what I charge married couples for those documents, assuming the wills are fairly basic (that is, no testamentary trust). How much experience does this attorney have? Firm or solo practitioner?

thedash · March 2012

That sounds like a very good rate. I bill $200-$250 per hour for writing those types of documents but do not bill for meetings, phone calls, etc. so if it took about 2.5 hours to draft the docs that would right. I'm in a HCOL area but there are tons of other lawyers around so lots of competition.

kirac · March 2012

That is a great price. Make sure you're comfortable with the lawyer.

Nala37 · March 2012

I'm also in RI and work in a law office, where I believe the rate is $650 for the same thing, so I think it's pretty good.

snicksnack · March 2012

That sounds like a great price. My husband is doing simiular documents for the parents of one of DD's gymboree friends, although theirs is a little more complex, and is charging $750.00

shouldbworkin · March 2012

We paid $1000+, but it included a trust. I'd want to know what kind of experience the lawyer had and how much consultation was involved. Those are great docs to have, but you might need more docs for your situation or circumstances. Sometimes a good deal isn't a good deal in the end.

cottonlily84 · March 2012

I'm not a lawyer but used to work in a law firm. We did those type documents for $100-125 each (6 years ago). We live in SC, a very low COL state and area. I think $450 is a good rate for that package.