Costs Of Estate Planning In New York, NY

The 2025-2026 Guide to Estate Planning Costs in New York

In my years as a New York estate planning attorney, nearly every client conversation begins with one simple, practical question: “How much is this going to cost?” It is, without question, the most important and logical question to ask. You are planning to invest in your family’s future, and you deserve a transparent, direct answer. The truth is, asking “how much does an estate plan cost” is like asking “how much does a house cost?” The answer is always, “it depends.” It depends on the size, the location, and the features you need.

However, “it depends” is not a satisfying answer. The purpose of this comprehensive 2025-2026 guide is to demystify the costs of estate planning in New York. We will break down the different pricing models, the specific factors that influence your fee, and the realistic price ranges you can expect. More importantly, I want to reframe this entire discussion. The “cost” of planning is not an expense; it is an investment. And in 2025, it is the most critical investment you can make. The looming 2026 “estate tax cliff” means the cost of inaction has skyrocketed. The fee you pay for a plan in 2025 is a tiny fraction of the 40% estate tax your family may have to pay in 2026. At Morgan Legal Group, we believe in transparency, and your education is the first step.

Understanding the Pricing Models: Flat Fee vs. Hourly

Before we can talk about dollar amounts, you must understand the two different ways attorneys charge for estate planning services. The method a firm uses is the single biggest factor in your final bill and, in my opinion, the quality of your experience.

The Traditional Model: Hourly Billing

The old-fashioned way to bill for legal services is by the hour. The attorney tracks their time in 6-minute or 15-minute increments for every single task: every phone call, every email, every minute spent drafting, and every moment spent thinking about your case. In New York City, an experienced attorney’s hourly rate can range from $400 to over $1,000. While this model is necessary for unpredictable litigation (like a will contest), it is a terrible model for estate planning. Why? Because it punishes you for being a good client. You become afraid to call your lawyer with a simple question, fearing a $100 bill. This breakdown in communication is how mistakes are made. It also leaves you with a totally unpredictable final cost.

The Modern Model: Flat-Fee Billing

At Morgan Legal Group, we—like most modern, client-focused estate planning firms—use a flat-fee model for all planning. After our initial consultation, we will quote you one single, all-inclusive flat fee for your entire plan. You know the exact cost before we begin. This fee covers all the meetings, all the drafting, all the signing, and all the phone calls and emails along the way. This approach is superior for three reasons:

1. Total Transparency: You know the exact cost upfront. There are no surprises and no anxiety-inducing bills.
2. It Encourages Communication: It aligns our interests. You can call or email us as much as you need. We want you to be engaged and informed.
3. It’s Value-Based: You are not paying for our “time”; you are paying for the result and the value of the plan. You are investing in our 30 years of experience, not a 6-minute phone call.

New York Estate Planning Costs: The Tiers of Planning (2025)

Now, let’s look at the numbers you came for. The text you provided offers a great breakdown of the typical starting ranges. Fees can range from $1,000 to $3,000 for just a regular plan, and the fee can be from $3,000 to $8,500 if you want a trust plan.

Let’s break down what those “regular” and “trust” plans mean in detail. I see planning costs in three distinct tiers.

Tier 1: The “Regular Plan” (Will-Based Foundational Plan)

• Estimated NY Cost: $1,000 – $3,000
• What It Includes: As you noted, this plan includes the core documents for anyone over 18.
  • Last Will and Testament: This is the main document. It names your beneficiaries, nominates an Executor to manage your estate, and, most critically for young parents, it is the only place to nominate a guardian for your minor children.
  • Durable Power of Attorney: Appoints an “Agent” to make financial decisions for you if you become incapacitated. Without this, your family would need a costly guardianship proceeding just to pay your bills.
  • Health Care Proxy: Appoints an “Agent” to make medical decisions for you if you cannot. This is a vital part of any NYC elder law plan.
  • Living Will: This document states your wishes for end-of-life care, guiding your Health Care Agent.
• Who It’s For: This plan is ideal for young individuals, couples just starting out, or new parents whose primary goal is nominating a guardian.
• The 2025 Warning: A “regular” plan is essential, but it is not a complete plan for many New Yorkers. A will-based plan guarantees probate. Your will is a one-way ticket to Surrogate’s Court, which is a process that is public, costly, and can take 9-18+ months. This plan also does nothing for estate tax planning.

Tier 2: The “Trust Plan” (Probate-Avoidance Plan)

• Estimated NY Cost: $3,000 – $8,500
• What It Includes: This is a comprehensive plan designed to achieve the #1 goal of most clients: avoiding probate.
  • Revocable Living Trust: This is the “brain” of the plan. It’s a private legal entity you create to hold your assets. You control it 100% while you are alive. When you pass, your chosen “Successor Trustee” steps in and distributes your assets privately and immediately—no court, no delay, no public record.
  • “Pour-Over” Will: This is a special safety-net will. It simply states that any asset you forgot to put in your trust should be “poured over” into it at your death. It also contains your guardianship nominations.
  • All Tier 1 Documents: A trust plan also includes the comprehensive Power of Attorney, Health Care Proxy, and Living Will. It’s a complete system.
• Who It’s For: This is the standard, recommended plan for the vast majority of New Yorkers, especially anyone who owns real estate (even a co-op in Queens or Brooklyn) or who simply wants to spare their family the time, cost, and public nature of probate.

Tier 3: The “Advanced Plan” (Tax-Driven & Asset Protection Plan)

• Estimated NY Cost: $9,000 – $25,000+
• What It Includes: This plan includes everything from Tier 2, but adds sophisticated, irrevocable trusts designed for tax mitigation and asset protection.
  • Irrevocable Life Insurance Trust (ILIT): Removes your life insurance proceeds from your taxable estate.
  • Spousal Lifetime Access Trust (SLAT): A powerful 2025 strategy. It allows you to make a large gift to a trust for your spouse’s benefit, “using up” your high federal exemption before it gets cut in 2026.
  • Medicaid Asset Protection Trusts: A key elder law tool to protect your home and savings from the crushing cost of long-term care.
  • Charitable Trusts, QPRTs, etc.
• Who It’s For: High-net-worth families, business owners, and anyone whose estate is (or will be) over the New York or federal estate tax exemptions.
• The 2025/2026 Mandate: This is the plan that directly addresses the 2026 tax cliff. The fee for this plan is a tiny investment compared to the 40% tax it is designed to save. This is why you must schedule a consultation in 2025.

Factors Affecting Your Estate Planning Cost

Your fee within those tiers will “vary depending on several factors.” Here is what a 30-year veteran like Russel Morgan, Esq., looks at when quoting your flat fee.

1. The Complexity of Your Estate & Family

This is the biggest factor. A $5 million estate in a simple index fund is “easy” to plan for. A $2 million estate with a family business, three rental properties in different states, and a valuable art collection is “complex.”

Family structure is just as important. A plan for a first marriage with two children is straightforward. A plan for a blended family (a second marriage with “his,” “her,” and “our” children) is far more complex. We must build in protections to ensure your new spouse is cared for while guaranteeing your assets ultimately go to your children, preventing unintentional disinheritance. This often requires complex trust provisions and intersects with family law.

2. The Specificity of Your Goals

A simple, “distribute everything equally” plan is less complex than a plan with highly specific goals. For example:

• Special Needs Planning: Do you have a child or relative with a disability? Leaving them an inheritance directly could disqualify them from vital government benefits. This requires a “Supplemental Needs Trust,” which demands specific expertise.
• Asset Protection: Are you in a high-liability profession? You may need advanced planning to protect your assets from potential future creditors.
• Business Succession Planning: How does your business continue after you? This involves buy-sell agreements and complex planning to ensure a smooth transition.
• “Dead Hand” Control: Do you want to protect a beneficiary from their own poor decisions (e.g., addiction, bad spending habits)? This requires a “Spendthrift Trust” with a professional trustee.

3. The Level of Tax Planning Required

Your plan must navigate two separate “tax cliffs.”

• The New York “Cliff”: As of 2025, the NY estate tax exemption is $6.94 million. If your estate is even 5% over this amount, you don’t just pay tax on the overage—you lose the entire exemption and pay tax from dollar one. This requires precise planning.
• The Federal “Cliff”: As discussed, the $13.61M federal exemption will be cut in half in 2026. Proactively planning for this in 2025 with advanced trusts (Tier 3) is a more complex undertaking, and the fee will reflect that immense value.

4. Attorney Experience and Expertise

As the provided text notes, “The experience and expertise of the estate planning attorney can impact the fees charged.” This is the “you get what you pay for” rule. A general practice lawyer in Staten Island who “dabbles” in wills might charge $500. But are they a specialist? Do they understand the 2026 tax cliff? Do they know how to properly “fund” a trust?

When you hire an experienced, dedicated firm like Morgan Legal Group, you are not paying for 30 pages of paper. You are paying for 30 years of experience. You are paying for the knowledge to anticipate problems you don’t even know you have. This expertise is the most valuable part of the entire transaction.

The True “Cost” of Planning: The Price of Doing Nothing

The most expensive estate plan is the one you never create. When clients express concern about a $5,000 flat fee for a trust plan, I ask them to consider the alternative “costs.”

The Cost of Dying Intestate (No Plan at All)

If you die with no plan, you die “intestate.” New York’s EPTL (Estates, Powers and Trusts Law) dictates who gets your assets. This rigid formula never matches what people want. For example, if you are married with children, your spouse does not get 100%. They get the first $50,000 and 50% of the rest. Your children get the other 50%. This can force the sale of a family home and cause incredible conflict. Your unmarried partner or stepchildren get nothing. The state, not you, is in control.

The Cost of a “Cheap” Will (The Probate Trap)

Let’s say you get a “cheap” $500 will. That will guarantees your estate goes to probate. As we’ve established, probate in New York is:

• Expensive: Costs can be 3-7% of your estate. Your “cheap” $500 will just cost your $1M estate $50,000 in fees.
• Slow: It takes 9-18+ months. Your family’s assets are frozen.
• Public: Your will and asset list become a public record for anyone to see.

The $5,000 trust plan that avoids this entire nightmare is, by any measure, the far cheaper option. A high-authority source like the New York State Unified Court System provides a basic overview of this complex process.

The Cost of DIY (The “LegalZoom” Trap)

Online document services are the most dangerous of all. They are “document preparers,” not law firms. They cannot give legal advice. Their biggest failure? They cannot and do not “fund” your trust. They’ll sell you a trust document, but it’s up to you to prepare new deeds, retitle accounts, and change beneficiaries. Almost no one does this correctly. The result: you die with a perfectly drafted, completely empty trust. Your family ends up in probate court anyway, and you paid for a worthless stack of paper.

What Your Fee Includes: The Morgan Legal Group Process

When you work with Morgan Legal Group, your flat fee is not for a transaction. It is for a comprehensive, guided process. It includes:

1. The Initial Design Meeting: We don’t just ask “what do you want?” We explore your family, your finances, and your fears to design a plan that truly reflects your values.
2. Unlimited Communication: We are your partners. Your fee includes all the calls and emails needed to get your plan perfect.
3. Custom Drafting: We are not a template mill. Our attorneys draft every document to meet your specific goals.
4. The Signing Ceremony: We preside over a formal signing ceremony, ensuring New York’s strict witness rules are followed perfectly.
5. The Trust Funding Process: This is the most crucial step. We don’t just give you a “to-do” list. Our team actively guides you, prepares new deeds, and coordinates with your financial advisors to ensure your trust is properly funded.
6. A Lifelong Relationship: We don’t disappear. We are here to review your plan as your life and the laws change.

Conclusion: Plan for the Future Today

The cost of estate planning in New York is not a “cost” at all. It is an investment in your family’s privacy, financial security, and peace of mind. While a basic will-based plan can start around $1,000-$3,000, and a comprehensive trust plan typically ranges from $3,000-$8,500, the true value is in what you save your family: the 3-7% probate cost, the 18 months of delay, and the public humiliation of a court proceeding.

And in 2025, the stakes are higher. The fee for a plan is a microscopic fraction of the 40% federal estate tax your family could face in 2026. The time to act is now. We invite you to contact Morgan Legal Group in New York to schedule a consultation. Our dedicated team will provide a transparent, flat-fee quote and help you create the comprehensive, personalized plan your legacy deserves.

The post Costs Of Estate Planning In New York, NY appeared first on Morgan Legal Group PC.