3. How much does a simple will cost?

In my experience, there is no such thing as a "simple will," although there certainly are situations that are much more straightforward than others or need little tax planning. And, unless the client already has reasonably current and locally applicable documents for basic lifetime-care issues, such as a comprehensive power of attorney and a medical directive, I ordinarily will not just prepare a will alone, because I think it would be irresponsible.

I generally charge a fixed fee for estate planning, so that clients know ahead of time what they will have to pay and feel comfortable asking all of their questions. The fee includes consultations, advice, working with the client's other advisors, document preparation and execution, and any needed follow-ups. There is also reimbursement for any actual out-of-pocket expenses, such as long-distance calls, special delivery and filing fees, and the (nominal) out-sourced cost of changing real estate titles. Later updates typically are charged on an hourly basis.

My usual practice is to have an initial meeting with the prospective client, for which I charge a meeting fee, in order to gather information and provide some preliminary recommendations. At the conclusion of the meeting, having a reasonably good idea of what is involved, I set my proposed fee, confirmed later by an engagement letter sent to the prospective client for a decision.