The Business of Estate Planning: The Pricing Dilemma Solved

You’re probably like most estate planning attorneys that feel forced to choose between offering low-cost basic plans or high-fee comprehensive plans but not both. If you’re honest with yourself, that belief comes from an attorney’s point-of-view, not a business owner’s point-of-view. This belief stems from tradition, ethics, devaluation and more — I get it.

But what if you hired every potential client, from those needing a simple will to those requiring complex trust planning? What if you could do that without devaluating your services, sucking up production time, and playing safe within legal ethics?

Perhaps you’re charging $6,500 for a comprehensive estate plan yet losing budget-conscious clients who only want a will for $800. Or maybe you offer cheap plans but worry you’re undermining your revenue. Good news, there is a way to capture both, and this article will help outline it for you.

The Common Misconception: “You Can’t Offer Both”

Many attorneys share a gap in understanding when it comes to pricing strategies. Let’s bridge that gap by first looking at what most estate planners already know, then introducing some new insights:

• What Most Estate Planners Already Know: Attorneys understand that estate plans come in vastly different flavors. A basic will package (often just a simple will, power of attorney, and healthcare directive) is suitable for clients with simple assets or family situations, and it’s typically inexpensive (sometimes as low as a few hundred dollars). On the other hand, an advanced trust-based plan for a high-net-worth client with complex family or business interests can cost several thousand dollars.

  Everyone acknowledges that more complexity = higher fee. They also know their time is money, so preparing even a “simple” estate plan still involves consultations, drafting, and liability risk, which is why many feel an $800 plan isn’t worth the effort. Traditional thinking (rooted in the billable hour model) says you shouldn’t “productize” legal services: if you spend nearly the same hours on a low-cost plan as on a high-cost plan, the low fee seems unprofitable.

  Additionally, many fear that advertising a budget option could devalue their premium offerings (e.g. high-end clients might question why one plan is so cheap versus another) or lead to malpractice exposure if a cut-rate plan doesn’t address all of a client’s needs.

  In short, the baseline mindset is often: “Better to stick with one market segment (usually the higher-end) to avoid risk and preserve profit.”

• What Many Haven’t Considered (New Insight): Offering tiered services does not have to mean sacrificing quality or profit, if done thoughtfully.

  First, tiered pricing can be ethical and safe: nothing in the rules prevents limited-scope services as long as the client is properly informed and the scope is reasonable. In other words, a well-designed $800 will package can be delivered competently with clear disclosure of its limits, avoiding malpractice.

  Second, with the right processes, a basic plan can take far less attorney time than a complex one – meaning it can be profitable at a lower fee. How? By leveraging standardized workflows and technology, you can deliver the same quality documents repeatedly in a fraction of the time. I automate many things for firms, from onboarding clients and documents to case updates and client dashboards. People expect templates, automations and now AI to handle low-cost solutions. What once took hours can be automated or delegated, making even a $800 plan yield healthy margins.

  Third, savvy attorneys realize that capturing entry-level clients leads to future business. A young client who starts with a simple will now return years later for an expensive trust as their wealth grows and referring to others. By serving clients at all stages (not just the wealthy ones now), you build long-term loyalty and referrals.

  In short, the new understanding is that tiered pricing can expand your client base and lifetime value, turning what was once seen as an “either/or” choice into a “have your cake and eat it too” strategy.

Why Attorneys Resist Tiered Pricing (And Why They’re Wrong)

Before diving into how to make tiered pricing work, let’s set up the context by examining the typical reasons attorneys avoid offering both low and high-priced options. We’ll address each concern with a perspective that reframes it as an opportunity rather than a threat:

• “It’s Unethical or Risky.” Some lawyers worry that offering a cheaper, limited plan might violate legal ethics or increase malpractice risk. For example, providing a simple will to someone who really needs a trust could be seen as doing a disservice.

  In reality, tiered services are ethical when done right. The ABA Model Rules explicitly allow limiting the scope of representation with informed client consent. What’s critical is client screening and education: you must ensure the client’s needs match the package. If a client’s situation truly calls for a comprehensive trust, you should advise them of that. But if they choose a basic plan after informed consent, you can proceed ethically, especially if you document the scope and have them sign an engagement letter clearly outlining what’s included (and what’s not) in the lower-tier service. Malpractice risk isn’t caused by offering options; it’s caused by mis-matching clients to the wrong service or failing to inform them of the limits.

  In short, implement rigorous intake procedures (e.g. questionnaires about assets, family, and goals) to triage clients into the appropriate tier. If they opt for a limited plan, get a written acknowledgement of what it doesn’t cover. As one risk management expert puts it: a lawyer may limit scope but must “make certain the client is fully informed” of any consequences of that limitation (for instance, tell a will-package client what could happen if they really needed a trust). With these safeguards, tiered offerings themselves don’t create malpractice exposure – poor implementation does.

• “Low-Fee Plans Aren’t Profitable.” Many attorneys believe that a simple will package, even if flat-fee, takes almost as much work as a larger plan, so why charge a fraction of the price?

  The truth: with smart process design, a basic estate plan can be delivered with very little incremental time. Consider that much of the work (drafting wills, powers of attorney, etc.) can be standardized. By improving internal processes and using document automation, you dramatically cut the time spent per basic plan.

  For example, instead of drafting from scratch, you use proven templates where you just fill in client specifics – the software (or a trained paralegal) handles the routine parts. This approach turns low-dollar services into efficient, almost high-volume products.

  Also, think in terms of effective hourly rate: if an $800 will package only takes you 2 hours of total work thanks to templates and delegation, that’s $400/hour – possibly more profitable than your billable rate on a complex matter. Additionally, those budget-friendly plans can utilize capacity that might otherwise be idle. If you or junior staff have gaps between big cases, filling the time with a few simple plans at a lower fee still boosts revenue without heavy cost.

  In short, don’t dismiss lower-tier offerings as “not worth it” – done right, they can be engineered to make money.

• “It Will Cannibalize or Devalue My Premium Service.” Another common fear is that by publicly offering a $750–$1500 plan, you’ll somehow cheapen your $5,000+ plans or lose wealthy clients who think you’re not exclusive. We all know a Lexus is made by Toyota. We know Corvettes are made by Chevy. Boats, home builders, jewelers, and more all have tiered offerings, yet are still thought of as high-end. Maybe like doctors and other foundational practices for centuries, lawyers feel they shouldn’t offer business-driving offers. Regardless, the key to avoiding this is differentiation and communication.

  You must clearly delineate what each tier includes and who it’s for. Your premium comprehensive plans involve far more value – more customization, more counseling, maybe tax planning or family law focused – essentially a different product than a bare-bones will package.

  As long as you articulate the differences in outcomes and effort, clients will understand the price disparity. (In fact, transparency in pricing can improve client trust, people appreciate knowing there are options.) The lawyer who charges $6,500 is likely providing a “higher-touch” service – lots of personalized attention and tailored strategies. In contrast, a quick-turn $800 will service might be more of a standardized, lower-touch offering. Both have their place.

  What’s important is not to blur the lines: don’t give away high-end customization at rock-bottom prices, and don’t oversell a will package as solving complex needs. If you maintain quality at each tier and target each tier to the appropriate client segment, the tiers complement rather than cannibalize each other.

  In fact, offering a starter option can feed your premium business over time (some clients will “upgrade” as their needs grow, and they’ll remember you because you helped them when they were smaller). Also, consider the competitive angle: if you don’t offer an affordable option, those clients will go elsewhere (or use DIY services), and they might never come back when they do have money.

  Tiered pricing lets you capture the full market: budget clients now (who may become high-value later) and high-value clients now who see you also serve everyday folks (which can be a reputation booster for being community-minded). Far from devaluing your brand, a well-executed tiered model can position your firm as both accessible and expert, a trusted advisor for life.

• “Regulatory Complexity Makes It Too Hard.” Estate planning often touches many areas – trusts, taxes, elder law, business succession, etc. Some attorneys worry that offering everything from a simple will to a complex trust plan means you must be fluent in all these sub-fields and keep up with many regulations, which is daunting in a small firm.

  It’s true that you shouldn’t offer what you’re not qualified to deliver competently (that’s an ethical mandate). The solution here is focus and systematize: your tiers should be designed around what your firm can confidently handle. For example, maybe your Tier 3 (advanced plan) includes sophisticated tax planning – if you’re not a tax expert, you might partner with a CPA or co-counsel on those cases or simply set the scope that advanced tax law is out of your wheelhouse.

  Meanwhile, your Tier 1 might deliberately exclude any complex trust work, so a single attorney can manage it with general estate planning knowledge. By structuring the packages thoughtfully, you ensure each stay within manageable complexity. And again, standardization helps – e.g. have set templates and checklists for each tier so nothing falls through the cracks. With clear boundaries for each service level, you won’t inadvertently get in over your head.

  In short, don’t let the breadth of estate planning scare you off from tiered offerings – define the tiers such that each is well-defined and executable by your team (perhaps Tier 1 and 2 handled by associates, Tier 3 with senior attorney + specialists). This way, you can cover a range of client needs without violating your competency or spreading yourself too thin.

Building a Tiered Pricing Model That Works

Now that we’ve addressed the concerns, let’s move into the solution framework – how to actually implement tiered pricing in an estate planning practice successfully. This is the purpose and strategy portion: using the insights above to frame a model that increases revenue and client satisfaction.

We will outline a sample tiered pricing structure, discuss how to deliver each tier effectively, and then illustrate the results you can achieve (including a breakdown of revenue vs. costs to show the bottom-line impact).

Defining Your Service Tiers and Pricing

A great way to start is by clearly defining 2–3 service levels that correspond to client needs and complexity. For example, some firms adopt a three-tier model:

• Tier 1: The Foundational Estate Plan ($750 – $1,500) – Basic documents for simple needs. This entry-level package usually includes a simple Will, Financial Power of Attorney, Healthcare Power of Attorney/Advance Medical Directive, and often a directive for digital assets or beneficiary designations.

  It’s designed for clients with straightforward situations. For instance, a young family or individual with modest assets who just wants to ensure basic protections. The service at this tier might involve one initial consultation, a standardized set of documents with limited customization, and a shorter turn-around. Because the scope is narrow (no trusts, no complex tax or Medicaid planning), it can be efficiently delivered.

  Goal: Provide an affordable, quick solution for those who might otherwise DIY or avoid planning.

  Value to firm: Introduces new clients to your practice and covers the basics profitably through volume and efficiency.

• Tier 2: The Revocable Trust Plan ($2,500 – $4,500) – Mid-level plan for moderate estates. This includes everything in Tier 1 plus a Revocable Living Trust as the centerpiece of the estate plan.

  It’s suited for clients who have substantial assets or specific wishes that make a trust advantageous (avoiding probate, minor children’s trusts, etc.), but who aren’t dealing with ultra-complex tax or asset protection issues.

  Typical components: pour-over will, revocable trust, guardianship designations, basic trust funding guidance (i.e. help retitling major assets to the trust), and possibly provisions for things like a backup guardian or simple testamentary trusts for minors. The service here might involve a couple of meetings (one to plan, one to review/sign) and moderate customization of trust terms to the client’s family situation.

  It’s more personalized than Tier 1, addressing things like who manages a child’s inheritance, but still follows a fairly standard playbook (we’re not talking GRATS or ILITs or family limited partnerships at this tier).

  Goal: Serve the typical middle-class or moderate-wealth client who needs more than a will but not a high-end wealth plan.

  Value to firm: Higher fee than Tier 1 for additional work but still delivered efficiently with templates (e.g. your living trust template that you adjust per client). This tier often has the widest client base (many professionals, homeowners, etc. fall here), providing solid revenue. Importantly, it prevents those clients from walking away due to a $5k+ price tag – you’re giving them an affordable trust option and capturing that business.

• Tier 3: The Advanced Estate & Legacy Plan ($6,500 – $15,000+) – Comprehensive, high-touch planning for complex needs. This top tier is for clients with significant wealth, business interests, or complex family situations (e.g. second marriages with kids from prior marriages, special needs dependents, etc.) where advanced strategies are needed. It includes everything in Tier 2 and more: for example, asset protection trusts, special needs trusts, tax planning strategies (like generation-skipping planning, charitable trusts, or provisions to minimize estate tax), business succession planning for any family business, and often ongoing estate administration or maintenance services (like annual reviews or updates).

  It’s a highly customized plan – often involving multiple professionals (you might coordinate with their financial advisor or CPA for tax planning). The engagement is much more hands-on: several planning meetings, a comprehensive discovery of the client’s assets/values, bespoke drafting, and potentially funding assistance (making sure many assets like real estate, LLCs, etc. are properly titled into trusts or entities).

  Goal: Provide a one-stop, sophisticated plan that addresses all aspects of wealth transfer and legacy.

  Value to firm: These engagements command premium fees reflecting the time, expertise, and risk management involved. While they are fewer in number, they contribute significantly to profitability and reputation. Crucially, by having this tier, you position your firm to not lose wealthy clients to big-city competitors – you have an offering that competes at the high end.

  Each tier’s price range reflects the scope of work. Notice the clear delineation: the $800–$1k plans are wills-only and limited in scope, whereas the $5k+ plans justify their cost by including far more complex elements. This kind of structured lineup is recommended by practice management experts – “implement tiered pricing: offer different pricing levels based on case complexity or client value.” Even estate planning software companies note that some clients only need a couple of documents, while others need many; recognizing those differences in your pricing is an “easy place to start” adjusting your business model.

  Tip: Publish or provide materials that clearly explain each package. Not only does this manage client expectations (they understand what they’re paying for), it also protects you – e.g. a brochure or chart that shows Tier 1 includes A, B, C; Tier 3 adds X, Y, Z reinforces that a Tier 1 client was informed they aren’t getting the extras. It helps avoid any later claim of “I thought the $800 plan covered trust planning too.” Transparency is key.

Ensuring Quality and Managing Risk at Every Tier

Designing tiers is step one; step two is implementing them with high quality control and ethical safeguards. Here’s how to make sure each tier delivers value and stays out of trouble:

• Client Intake and Screening: Develop a robust intake process to route clients to the right tier from the start. This could mean having potential clients fill out a detailed questionnaire about their assets (size of estate, types of assets like real estate or business ownership), family situation (marital status, minor kids, special needs family members), and goals (avoid probate, minimize taxes, etc.).

  Based on this, you or a trained staff member can recommend the appropriate tier. For example, if someone indicates they have a $5 million estate with only minor children, you’ll likely suggest Tier 2 (trust plan for probate avoidance and guardianships). If someone has $20 million with complex conditions, Tier 3. If someone is single with a $200k estate and just wants basics, Tier 1.

  The point is to match needs to services. This screening not only ensures the client gets adequate planning (reducing risk of unhappy outcomes), but it also gives you documentation that you advised them properly. If a client declines the recommended tier for a cheaper one, that’s fine – but have them acknowledge that choice in writing.

• Engagement Letters and Disclosures: For each tier, craft a template engagement letter that spells out the scope of representation. In a Tier 1 engagement, for instance, explicitly state that “Attorney will prepare X, Y, Z documents; this plan does not include any trust planning, tax advice, Medicaid planning, or other advanced estate strategies.” Also note that if the client’s situation changes or they later need those, they should seek an updated plan (with you, ideally). The client should sign off on understanding these limits.

  This kind of clear agreement is supported by ethics rules: limiting scope is fine if the client gives informed consent, preferably confirmed in writing. Doing this will greatly mitigate malpractice risk because it’s evidence the client knew exactly what they were (and weren’t) getting.

  In higher tiers, your engagement might be broader but still clarify any exclusions (e.g. “Tax planning in this engagement is general; for specialized international tax counsel, client may need engagement of a tax attorney,” etc., if applicable). The idea is to leave no fuzzy areas – each tier has boundaries.

• Standard Operating Procedures: Create checklists and workflows for each package tier. This ensures nothing gets overlooked in a lower-tier due to its streamlined nature. For example, for Tier 1 have a checklist: “Did we execute will? Signed powers of attorney? Provided notarized healthcare directive? Gave client funding instructions for beneficiaries?” (Even if no trust, maybe beneficiary forms to fill out.)

  For Tier 2: “Trust signed? Pourover will executed? Deed to transfer house into trust prepared? Asset spreadsheet given to client to fund remaining assets?” These process checklists act as quality control. It’s often the firms that don’t systematize that run into mistakes (which lead to malpractice). By contrast, a firm that productizes the basic plan will often have a near zero error rate because they follow the same proven steps every time.

• Attorney Oversight and Review: Even if much of the work is delegated (say, a paralegal drafts the will from a template), ensure an attorney reviews final documents and that the client meeting includes attorney time to answer questions.

  This doesn’t have to blow the budget – a 30-minute final attorney review on an $800 plan is reasonable and provides a failsafe for any odd client circumstances that the staff might not catch. It also reinforces to the client that, yes, they got a lawyer’s expertise (important for perceived value, even at low cost). Having a senior attorney oversee Tier 3 is obvious (those are complex) but also consider periodic senior reviews of a sample of Tier 1 and 2 files to ensure consistency and spot any issues with the process.

• Ongoing Updates and Follow-up: One risk in estate planning is that a plan becomes out-of-date, and the client blames the attorney. With tiered services, consider how you will handle updates. Some firms offer a maintenance program for higher tiers (annual check-ins for a fee or included for a period).

  For lower-tier clients, perhaps send a check-in email every couple of years reminding them to review their plan and offering an upgrade if their life situation changed (marriage, new baby, etc.).

  This not only is good service, it can generate additional business (some Tier 1 clients will evolve into Tier 2 or 3 over time). It also provides some CYA against the client who might later say “my will didn’t cover my new child because I never updated it” – you can show you prompted them to update.

  In essence, professional judgment and care must underpin every tier. Tiered pricing itself doesn’t lower quality – only a lapse in process or communication would. If you maintain rigorous standards (just tailored appropriately to each service level’s scope), you can confidently offer all three tiers without compromising your ethics or client satisfaction.

Leveraging Technology and Efficiency for Profit

A cornerstone of making tiered pricing profitable is operational efficiency – particularly for the lower-priced tiers. Without efficiency, the fear that “low fee = losing money” could come true. Here’s how to ensure that doesn’t happen:

• Document Automation: As mentioned, invest in a good estate planning document assembly software or use modern management tools that allow you to auto-populate forms. I work with many but love only one, ask me for a reference here.

  For example, if you input client data (names, executor, guardian, assets, etc.) once, the software can generate a will, POA, and healthcare directive all at once. This can shrink what used to be hours of drafting into minutes. By reducing manual tasks and errors, you save attorney time – which directly translates to maintaining healthy margins even on low-cost work.

• Template Libraries: Even outside of full automation, maintain a library of clause templates and past examples. For instance, have a standard will for a single person vs. a married couple, a standard revocable trust that you tweak for each family, boilerplate language for common provisions (like age of inheritance clauses, fiduciary powers, etc.).

  The more you can reuse content, the faster you produce the documents. Over time, you might refine a few variants (simple trust, AB trust, special needs trust) that cover 95% of scenarios. This turns drafting into more of a selection process than writing exercise. Consistency also means fewer mistakes and easier training of junior staff.

• Delegation and Role Optimization: Align your team to the tiered model. Perhaps paralegals or junior attorneys handle Tier 1 clients primarily, following the set templates and checklists, with minimal supervision. They bill at a lower rate (or their cost is lower), so the margin on an $800 fee is better. Reserve senior attorney time for Tier 2 (some involvement) and Tier 3 (heavy involvement) where their expertise is truly needed.

  By not having your highest-paid person doing every small will plan from scratch, you improve profitability. Make use of support staff for tasks like gathering asset information, drafting funding instructions, scheduling signings, etc. Each role should work at the top of their skill level: routine tasks to staff, legal judgment to attorneys. This division allows you to handle more volume in the lower tiers without burnout.

• Online Client Interaction: To serve lower-tier clients efficiently, consider using online questionnaires or a secure client portal for intake, rather than lengthy bespoke meetings. This can be done easily.

  For example, a client who wants a basic will could fill in an online form with their family info and preferences (many modern estate planning firms do this). That data flows directly into your templates. This cuts down meeting time. For Tier 1, you might do one short meeting or even a video call to confirm details and execute documents.

  Technology can also allow e-signing for certain documents or at least preparation of drafts without in-person meetings, saving time (subject to your jurisdiction’s notary requirements, of course). All these tech-enabled steps mean you can handle more clients in less time – scaling up the number of $800 plans you can comfortably sell and fulfill in a month.

• Fixed-Fee Mindset and Tracking: Since you are likely offering these tiers on a flat-fee basis (that’s typical in estate planning pricing now), you need to monitor how much time each is actually taking. Track the time spent (even if not billing hourly) for a sample of matters to see if your processes are hitting the targets.

  If you find a Tier 1 is consuming 10 hours – you have a problem (maybe you’re over-customizing or the client had more needs than you thought, meaning they were mis-tiered). Ideally, Tier 1 should be just a few hours of work or less; Tier 2 maybe a handful of hours; Tier 3 will vary but you price it high enough to cover that. By tracking and continuously improving efficiency, you ensure profitability at each tier.

  This aligns with the “value pricing” approach: you charge a flat fee based on the value and typical effort, then work on reducing your cost to deliver beneath that, thereby capturing profit. Law firm profitability studies often highlight that using tech and lean processes allows firms to “deliver higher-quality services faster... clients will notice” and be willing to pay for the value, which in turn means you make more money in less time.

  In short, process and technology are your friends. They will make the difference between a tiered model that is highly lucrative versus one that feels like a grind. The bonus is that these efficiencies often improve accuracy (fewer overlooked details) and consistency, which again circles back to reducing risk. It’s a virtuous cycle: efficient delivery -> more profit per plan, and happier clients too (quick service, fewer errors).

The Bottom Line: How Tiered Pricing Can Boost Profit – By the Numbers

Let’s talk results. What does all this mean for your firm’s financial health? Here I’ll fulfill the promise of showing the business math that makes tiered pricing compelling. By analyzing revenue and overhead scenarios, you’ll see how offering multiple price points can lead to more money in your pocket at the end of the day.

Consider a small estate planning firm (perhaps 1-3 attorneys, plus a paralegal) with a monthly overhead of, say, $15,000(this includes rent, utilities, staff salaries, insurance, marketing, etc. – the typical fixed costs that run whether you have clients or not). Now imagine two scenarios for a given month:

• Scenario A: High-End Only. This firm only offers comprehensive plans around $6,500 each. Let’s say in a month, they sign on 2 clients at $6,500 each. That’s $13,000 in revenue. Those two cases likely consume significant attorney time (complex planning, multiple meetings), but that’s okay since they didn’t offer anything else. However, $13k revenue against $15k overhead means the firm actually operates at a loss for the month (–$2k), or the owner has to dip into savings to cover expenses. Even if they did 3 clients ($19,500 revenue), their profit would be slim after overhead (around $4,500).

  Moreover, if one month they land zero $6k clients, that’s zero revenue while overhead still looms. This model is risky because it relies on a steady stream of high-paying clients – any slow patch and the firm is in the red. Many solo and small firms know this feeling: feast or famine when you only chase the big fish.

• Scenario B: Tiered Offerings. Now suppose the firm offers a mix: they still handle high-end clients (say 2 per month at ~$6,500 each = $13k, as before), but they also capture moderate and entry-level clients. Maybe in that same month they also sell 3 mid-level trust plans at $3,000 each = $9,000, and 5 basic will packages at $800 each = $4,000. Now total monthly revenue becomes $13k + $9k + $4k = $26,000. That is double the revenue of Scenario A.

  Even if the mid-level and basic plans have some costs (let’s allocate, for example, a couple thousand of overhead to the additional staff time or extra software costs), the firm is comfortably covering the $15k overhead and profiting. For rough math: suppose delivering those 3 mid-tier and 5 low-tier plans used maybe $5k worth of staff time and marginal costs (just an estimate), you’d still have $26k – ($15k + $5k) = $6,000 profit for the month.

  That’s money the firm would not have seen by only sticking to high-end plans. Over a year, that could be an additional >$70k in profit, potentially doubling the owner’s take-home pay.

• Scenario C: Growth and Volume. Let’s take it further. Once you’ve streamlined the lower tiers, you might ramp up volume. Perhaps you find there’s huge demand for $1,000 will packages in your area (people who balk at $3k trusts but happily pay ~$1k for peace of mind).

  You could scale to 10 basic plans a month (using the tech and paralegal workflow, this could be very doable), on top of say 4 mid-tier and 2 high-tier clients a month. For illustration: 10 × $1,000 + 4 × $3,000 + 2 × $6,500 = $10,000 + $12,000 + $13,000 = $35,000 revenue/month. With overhead still ~$15k and maybe needing a bit more staff as you grow (say $5k more in variable costs), you net $15k/month.

  That’s a healthy profit margin for a small firm. Importantly, you achieved it by serving 16 clients instead of 2 – significantly widening your market and cushioning your income. Even if one segment slows down (imagine one month few high-end clients show up), the other segments provide stability.

  These scenarios illustrate the core business takeaway: tiered pricing can dramatically increase your total revenue and profit by leveraging a mix of high-value and high-volume work.

  Attorneys who stick to one price band may be “leaving money on the table” by turning away clients who would buy a different-sized service. When you offer multiple tiers, you capture revenue from all sides – premium fees from those who need deluxe planning and smaller fees from those who just need the basics. The smaller fees add up, especially if you’ve made delivery efficient.

  And there’s a compounding effect: more clients served = more word-of-mouth referrals (happy will clients refer their friends, some of whom might be bigger fish), and a larger overall presence in your market.

  Of course, one must subtract the cost of delivering the services, but as we argued, if you structure things right, the cost to deliver a Tier 1 or Tier 2 plan is proportionally lower.

  For instance, maybe an $800 will package costs you $300 of labor/time to produce; a $3,000 trust plan costs you $1,000; and a $6,500 plan costs $2,500. Your gross margins might actually end up quite similar in percentage terms across tiers (say 60-70%).

  But in absolute dollars, having more clients means more total profit dollars. Economies of scale kick in too: the fixed overhead ($15k) gets spread over more revenue streams, improving overall profitability percentage. As a wealth counsel notes, failing to account for all your overhead in pricing is a common mistake – tiered pricing helps here because each additional client contributes to overhead coverage. Rather than having a few clients bear all the overhead in their fees (making you either very expensive or barely breaking even), you have many clients each contributing a bit, which can hit the sweet spot of being affordable to them and profitable to you.

  Finally, consider the long-term value: those 10 simple plan clients in Scenario C might come back over the years for upgrades (moving to Tier 2 or 3 as their life situation changes), or at least for updates (which you can charge for, or enroll them in a maintenance plan). Thus, the lifetime revenue per client increases beyond the initial fee. By contrast, if you never brought them in at Tier 1, you’d get $0 from them ever. So, the tiered approach not only boosts this year’s income but also seeds future high-value engagements.

In summary, the numbers make it clear: tiered offerings can significantly grow both top-line revenue and bottom-line profit. They allow you to utilize your firm’s full capacity, stabilize cash flow, and ultimately make more money than you likely would by focusing on just one service level. And all this comes while serving a broader range of clients – a win-win for your business and your community.

Conclusion: Tiered Pricing as a Win-Win Strategy

Let’s wrap up with the core takeaway. By now, you should see that offering a beginner-level, mid-level, and high-level estate planning option is not about diluting your practice – it’s about expanding your reach and increasing profitability. With proper structure, tiered pricing can indeed be a win-win: more clients get access to the level of planning they need, and your firm gains more business and revenue streams. The key is implementing it thoughtfully: screen clients carefully, communicate clearly, leverage technology, and maintain quality at each tier. Do that, and you can confidently serve both the $800 will client and the $6,500 trust client under the same roof, ethically and profitably.

Remember, the legal market is evolving. Clients appreciate flexibility and value. Firms that adapt by providing transparent, tiered options are likely to capture a larger share of the market. As one legal pricing guide notes, you should “offer different pricing levels based on complexity” and even bundle services into packages this aligns your services with client expectations and willingness to pay. It’s not about racing to the bottom on price; it’s about right-sizing your services. By doing so, you can serve both the young family just starting out and the wealthy entrepreneur planning his legacy. You’re building relationships that last a lifetime, and getting paid appropriately across that spectrum.

So, if you’ve been on the fence about offering, say, a low-cost will package, consider this your sign to give it a serious look. Start small – maybe roll out a pilot basic package with strict parameters – and see how it could fill your pipeline. Talk to peers who have done flat-fee wills or trust packages; many will tell you it attracts clients who eventually need more work. And if you’re at the high end already, rest assured you can add a budget tier without tarnishing your brand, as long as you differentiate it and maintain standards.

In closing, estate planning doesn’t have to be an “either/or” proposition when it comes to pricing. By embracing a tiered model, you position your firm to help more people and make more money. It’s about meeting clients where they are and providing the right level of service for every stage of life and wealth. Do that successfully, and you’ll not only see greater financial rewards, but also the professional satisfaction of guiding clients from their first will all the way to their complex legacy plan. That kind of client loyalty is priceless and it’s built by a strategy that recognizes one size does not fit all. Tiered pricing, done right, is your pathway to a more resilient, profitable, and client-friendly estate planning practice. It’s time to capture the full market and truly thrive.