How Much Does Estate Planning Cost?

One of the first questions people ask us is: “How much does estate planning cost?” It’s a fair question—and the answer is: it depends. But we won’t leave you with vague numbers or generic ranges. At Legacy Law Group Colorado, we believe in transparency. That’s why we created this guide to help you:

Whether you're exploring estate planning for the first time, updating an old plan, or trying to avoid unnecessary taxes and probate costs, this guide breaks down everything you need to know about pricing, so you can plan confidently.

We’ll walk you through not just the basic costs, but also when you might need more advanced tools, real-world examples from past clients, and even tips on how to keep things cost-effective without cutting corners. Let’s start with the basics.

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Why Costs Vary So Much

Estate planning isn’t one-size-fits-all. Your needs—and your costs—will vary based on several factors:

Think of it like building a custom home: you can’t price it without knowing how many rooms you need, what materials you want, and how long it needs to last. And estate plans should last—through life events, financial changes, and generational shifts. A one-size-fits-all document just won’t cut it.

Basic Estate Planning Costs in Colorado

Simple Will-Based Estate Plan: $600–$1,500

This is the most basic form of estate planning, ideal for individuals or couples with uncomplicated wishes and a straightforward financial picture.

You’ll typically receive:

• A Last Will and Testament
• Durable Power of Attorney (for finances)
• Medical Power of Attorney (for healthcare)
• Advance Directive / Living Will
• HIPAA Authorization

While cost-effective, keep in mind this plan will still require probate and doesn’t provide asset protection or privacy. It’s a good starting point, but not ideal if you have more than minimal assets or want to avoid court involvement.

Revocable Living Trust Plan: $2,000–$5,000

Revocable trusts are ideal for families, homeowners, or those who want to avoid probate. Your assets are titled in the name of the trust, allowing for smoother transitions.

These plans often include:

• Revocable Living Trust
• Pour-over Will
• Financial Power of Attorney
• Medical Power of Attorney
• Living Will & HIPAA Authorization
• Real estate deed prep and trust funding guidance

Learn more about revocable trusts and why they’re often preferred.

Advanced Trust Plans: $5,000–$15,000+

For those with complex needs—high-value estates, tax concerns, blended families, or long-term care planning—advanced trusts provide flexibility, protection, and strategic planning tools.

These may include:

• Irrevocable Trusts
• Medicaid Asset Protection Trusts
• Charitable Remainder Trusts
• Personal Property Trusts
• ILITs (Irrevocable Life Insurance Trusts)
• GRATs (Grantor Retained Annuity Trusts)
• QTIP Trusts (Qualified Terminable Interest Property Trusts)

Each of these tools is tailored for specific scenarios. For instance, ILITs are used to exclude life insurance from estate tax calculations, while GRATs help minimize gift and estate taxes on appreciating assets.

Explore advanced trust options and which might be right for you.

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Online Services vs. Estate Planning Attorneys

While online platforms for estate planning might seem appealing due to their lower initial costs, they often lack the personalized touch and expertise that a seasoned estate planning attorney can provide. These platforms typically offer generic templates that may not account for the unique nuances of your financial situation or family dynamics. As a result, what seems like a cost-effective solution can lead to significant legal challenges and expenses in the future. For instance, a poorly drafted will or trust might not hold up in court, leading to disputes among heirs or unintended tax consequences. Here's a simple comparison:

We’ve seen firsthand how poorly drafted online documents can unravel in court. Don’t leave your legacy to chance.

What Affects the Cost Most?

Size and Complexity of Your Estate

More assets often mean more planning. A trust may be required if you own real estate in multiple states or have complex investment portfolios.

Real estate owners often benefit from trust-based plans—learn more here.

Unique Family Dynamics

If your family includes stepchildren, estranged relatives, or dependents with disabilities, more nuanced planning is necessary.

Planning for blended families
Planning for children with special needs

A few hypothetical Client Scenarios (Costs Included)

Scenario 1: Single adult, no children, owns a condo

• Needed will-based plan with powers of attorney and advance directive
• Cost: $1,500

Scenario 2: Married couple with 3 kids and multiple properties

• Needed trust plan, asset protection, and property deed transfers
• Cost: $4,500

Scenario 3: Retiree needing Medicaid planning

• Built a Medicaid Asset Protection Trust, plus updated power of attorney docs
• Cost: $7,000

Scenario 4: Business owner with real estate portfolio

• Created revocable trust, GRAT, and coordinated personal property trust
• Cost: $12,000+

How to Save on Estate Planning Without Sacrificing Quality?

Want to be smart with your money? Here’s how:

• Start early—planning during a crisis is always more expensive
• Bundle your documents for discounts
• Choose flat-fee services to avoid hourly surprises
• Work with a firm that helps fund your trust
• Ask about lifetime updates—some firms charge for every change, we don’t