Skip to main content
Level 2
June 6, 2019
Solved

Are legal fees for preparation of wills, trusts, and medical powers of attorney deductible if they fall under the general umbrella of estate planning?

  • June 6, 2019
  • 1 reply
  • 1 view

We paid $8500 in legal fees. All of the legal work falls under the umbrella of estate planning and much of it deals with tax planning. Can I claim all of these fees as a deduction or do I have to specify what percentage of the fee was paid for tax planning?


Best answer by

You can only deduct the portion spent on tax planning, not overall estate planning.  The provider should be able to break down those costs for you in a written document or invoice.

1 reply

Answer
June 6, 2019

You can only deduct the portion spent on tax planning, not overall estate planning.  The provider should be able to break down those costs for you in a written document or invoice.