Making a will is a very important decision. Doing so enables you to start planning for what's going to happen when you're gone. Making a will not only puts directives in place to ensure the safety and security of your family and assets, it means that you won't be leaving your family with unmade decisions.
Though it's difficult to consider the situation of passing away, it's important to put things in place and make a will. Making a will can be costly, especially when it comes to making one in the traditional way of meeting with a lawyer.
However, with the growth of online services, making something as essential as a will doesn't have to be costly. Online wills provide a solution to an outdated service by providing a quick, efficient, and reliable service.
How Much Does It Cost To Make A Will With A Lawyer
The traditional way of making a will with a lawyer can be costly. The process of setting up a will with a lawyer can be costly regardless of the complexity of your affairs. If you're looking to go down the traditional route, it could cost anywhere from $500 to $5,000 or more.
So, what makes making a will with a lawyer expensive? Having a lawyer create your will is a complex process and is not as simple as getting it done in one day. This process involves hours of consultation and discussion of every detail, right down to the wording.
However, the process need not be so complicated. There is more than one way of making a will. With a move towards digitization, online will services are proving to grow in popularity.
- The average cost of a simple will. However, if you have a more complicated estate or more complex affairs, the price you can be charged can be steep, costing around $1,000 or more.
- $300 is considered to be at the lower end of a lawyer drafted will, whilst $1,000 is considered to be a more realistic estimate. However, it's not unusual for the price to be much higher.
- If you also wanted your lawyer to draft additional documents, this could cost you anywhere from $200 to $400 an hour or more, depending on the complexity of your situation.
Additionally, if you decide to make any changes to your document, it will cost an additional fee as well as additional travel to meet for another consultation with your lawyer. The bottom line is that using a lawyer comes with a very high cost in comparison to an online will cost.
Pricing Methods
- Flat Fee - It's common for lawyers to charge a flat fee to put together your will as well as write and set up additional documents. Lawyers tend to have a set of standardized clauses established from previous forms they have written. They can reuse these clauses and tailor them to suit a clients' wishes. Therefore, the process of document drafting doesn't take too much time. What a flat fee accounts for is not the lawyer's time, but their expertise and experience. They are not obliged to keep a record of how they spend their time, giving them the freedom to set an objective fee as lawyers don't charge the same flat fee. Additionally, it's unlikely that a list of prices will be presented by the lawyer. It will be down to you to speak with the lawyer to get a quote. This process can be daunting and time-consuming.
- Hourly Fee - Some attorneys will charge by the hour instead of charging a flat fee. This pricing method leaves uncertainty as it can easily rack up with a consultation going over the time limit or if you stray from the topic of your will during your meetings. Charging by the hour could leave you with a nasty shock.
Factors That Could Affect the Cost Of A Will
- Assets - Having more assets will increase the price of your will as additional attention will be required to distribute the assets.
- Location - Attorneys based in cities will charge higher than those in rural areas. An attorney in a city charges around $400 whilst an attorney in a rural area may charge around $100.
- Specialization - If you require the organization of your estate, hiring an estate planner is often more expensive.
The traditional way of making a will doesn't necessarily have to be the option you have to go for. Making a will with a lawyer proves to be an expensive and time-consuming option. With a world moving toward digitization, online will services are growing in popularity offering a reliable, efficient, and affordable service.
Online Will Services
So how much does an online will cost is your use Wills.com? Only $75! We offer the best of both worlds, producing a quick and easy yet high quality will while still being affordable. Creating an online will won't only take away the hassle of weeks of consultations, it will also give you an option to put everything in place that you want in minutes whilst in the comfort of your home.
However, some online will creation services are better than others with each providing different features and additional services. Not tooting our own horn, but we recommend Wills.com because we provide a high-quality service with unmatched pricing and full support.
We stand with our great value for money with our online will cost of only $75. With this, you'll get a professionally constructed legal will, signing with ease and without delay, secure storage, and unlimited free changes.
Wills.com offers one of the best online will makers out there. We understand that creating a will can be overwhelming, that's why we offer you a range of resources offering advice and guidance as well as our full support.
Making a will doesn't have to be a lengthy and stressful process. With online will services available, making a will has never been easier. Wills offers a comprehensive service that enables you to make a legal will in under fifteen minutes.
The service enables you to tailor the will to cater to your every need, regardless of your situation or the complexity of your assets.