What term refers to set fees that are established for each document or transaction?

• A. Durable power of attorney
• B. Self-dealing
• C. Advance healthcare directive
• D. Transactional fees or flat fees

Answer: (D)

Fees that are fixed for each document or transaction are called transactional fees or flat fees. This pricing approach means you pay a set amount for drafting a specific document—like a will, durable power of attorney, or advance healthcare directive—or for completing a single transaction, regardless of how much time or effort the work actually requires. It gives clients predictability and transparency, since the cost is known up front and doesn’t vary with the attorney’s hours.

The other terms describe the documents or conduct, not the pricing method: a durable power of attorney is a document granting someone authority to act, an advance healthcare directive is a document outlining medical treatment preferences, and self-dealing is an ethical violation by a fiduciary.