Introduction
Creating a will is a fundamental aspect of estate planning, crucial for ensuring your assets and loved ones are protected according to your wishes. While many opt for the convenience of online platforms like Wills.com, others might consider hiring an estate planning attorney. Here, we delve into the costs and benefits of both approaches, emphasizing the value and efficiency of using Wills.com.
Hiring an Estate Planning Attorney: Costs and Considerations
When you hire an attorney to draft a will, you're not just paying for a document; you're paying for personalized legal expertise and peace of mind. However, this can come at a significant cost:
Average Costs: Typically, drafting a will with a lawyer can cost anywhere from $300 to $1,000. The fee varies based on geographic location, the complexity of your estate, and the attorney's experience.
Billing Methods: Lawyers might charge a flat fee for straightforward estate planning services or an hourly rate ranging from $200 to $350. More experienced attorneys or those in high-cost areas might charge even more.
Additional Legal Fees: If your estate plan is more complex, involving trusts or business interests, costs can escalate into the thousands.
Notarization and Witness Fees: Additional costs include notarization and witnesses, which can add $20 to $200 to the overall expenses.
Probate and Administrative Fees: After your passing, the executor of your will often turns to the drafting attorney for assistance, incurring further costs. The average probate process can add around $1,000 or more in legal fees, with potential costs escalating if the will is contested or complications arise.
Long-Term Costs: If disputes occur, attorney fees can skyrocket, especially in complex cases or where high-value assets are involved.
Comparing with Wills.com: An Affordable, Streamlined Alternative
For those with straightforward estate planning needs—such as individuals with a spouse, children, or modest assets—a basic will often suffices. Here's where Wills.com offers a significant advantage:
Cost-Effective Solution: Create a state-specific legal will for under $100, with the added benefit of free lifetime changes. This allows for flexibility as your life circumstances evolve.
Ease of Use: Wills.com provides a robust and intuitive platform that simplifies the will-creation process, making it accessible even to those who are not tech-savvy.
No Hidden Fees: Unlike traditional legal services, Wills.com is transparent about costs. There are no hidden fees or subsequent charges for making changes to your will.
The Risks of Not Having a Will
Guardianship Concerns: Without a will, there's no legal provision for the guardianship of minor children, which could result in them being placed in foster care.
Asset Distribution: Without a will, your assets are distributed according to state laws, which might not reflect your personal wishes.
Will Creation Paralysis: Many avoid creating a will due to anxiety or discomfort around the subject. However, delaying can have serious consequences.
Conclusion: The Value of Proactive Estate Planning
Creating a will is essential, and while the thought of dealing with legal documents can be daunting, the consequences of not having a will are far more severe. Wills.com provides an affordable, efficient, and user-friendly solution that empowers you to secure your legacy without the need for expensive legal fees.
Is it time to take Action?
Don’t wait until it’s too late. Visit Wills.com today to start the process of securing your future. For any questions, our customer success team is ready to assist you 24/7 at [email protected]. Ensure your peace of mind by taking charge of your estate planning today with Wills.com.