Why Waiting Until Later Is the Most Expensive Choice You Can Make
One of the first questions people ask when they start thinking about estate planning is simple: “How much does an estate plan cost?”
The honest answer is even simpler. It costs far less now than it will later on for your family.
Every year at Bellomo & Associates, we meet families who learn this the hard way. They assumed things could be handled informally, that everyone would work together, and that a formal plan was not really necessary. Unfortunately, the legal system does not operate in that manner.
Without written instructions, the state steps in. Courts get involved. And your loved ones are left navigating months of paperwork, delays, and thousands of dollars in unexpected expenses during a time when they are already grieving.
A Family Story That Happens Far Too Often
When Mark’s father passed away without a will or any estate planning documents, the family expected everything to be wrapped up quickly. Instead, they were pulled into a long and stressful probate process.
In many states, probate can take nine to eighteen months or longer. For Mark’s family, that meant:
- More than $20,000 in attorney fees
- Around $5,000 to $8,000 in court and administrative costs
- Additional taxes depending on state law
- Countless hours missed from work
- Growing tension over decisions no one felt comfortable making
By the time everything was settled, the true cost was far higher than anyone expected. When financial losses and emotional strain were added together, the impact was closer to $60,000 to $90,000.
Almost all of it could have been avoided with a proper plan.
What Probate Typically Costs
While every state is different, most families can expect probate to include:
- Three to seven percent of the estate’s value in legal and administrative fees
- Possible state taxes depending on local law
- Months or even years of delay before assets are distributed
For a $300,000 estate, that alone can mean $9,000 to $21,000 in fees. For larger estates, the costs rise quickly.
And those numbers do not account for the stress, the family strain, or the time spent dealing with legal matters when emotions are already high.
Why Estate Planning Costs Less Than You Think
A well-crafted estate plan is not just paperwork. It is a way to:
- Avoid or significantly reduce probate
- Make distributions faster and simpler for your loved ones
- Minimize unnecessary taxes and fees
- Prevent family conflict
- Keep your wishes clear and honored
Most importantly, it gives your family peace of mind. And peace of mind should never come with an overwhelming price tag.
The Best Time to Plan Is Before You Need It
The cost of estate planning is predictable and manageable. The cost of waiting is not.
Whether your goal is protecting your home, simplifying things for your children, or feeling confident about the future, taking action now is one of the smartest financial and emotional decisions you can make.
If you are ready to understand your options and learn how to protect your family from the true cost of figuring it out later, we invite you to take the next step.
Register for a Workshop to learn how to build a plan that saves your family time, money, and stress.
