Putting together a will

rockcity

rockcity

everyday is a chance to get better
Joined
Apr 10, 2005
Location
Greenville, NC
has anyone done it the DIY style? Used a full service attorney?

Every full service attorney wants $250+ just as a consultation plus whatever the will actually costs. Seems high to me before I decide to even do business with them...


Any thoughts from the more experienced?
 
I do work for an attorney and I asked him if the Will kits were any good and he said as long as its a simple will then they are fine.
 
We went through this several years ago when we were still in NC.
Talked to a few attys who were friends, or gave a free consult.
Basically learned same as above. Simple will - the DIY kits are fine.
But the truth is that a simple will rarely is the best idea unless you really have a very simple estate, few or no investments etc.
A trust is a better way to go. We had a local firm set it up and it was only like $300 total. Now that was 10 years ago...

... and reminds me we are waaaay overdue on changing that thing
 
We need to do one. We were talking with a lawyer a couple of years ago for something else and i asked how much to set up a will. He said $500.
 
Rob,
One error could open up your entire estate to income taxation.

Don't save $400 to cost your kids 10,000....
 
We are in the process of drawing ours will and trust up now. Using an attorney that was recommended by wife's boss and we are looking at about $1500. A lot more than I want to pay but I want it done right.
 
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Get an attorney. Stupid words like shall vs may seem the same to laymen like us but can cost you a bunch and a non legal mind (like most of us) would likely never realize until it's too late. I agree with the above, tie it to a trust to make all the assets flow correctly and minimize the tax if any. Hell if I recall correctly our home deed is in the trusts name both for inheritance/will purposes as well as some liability advantages. I could be off on parts of that but that is sort of the point....so could you!
 
I work with lengthy contracts quite a bit and can sort through most suggestive words like "should", may, and the like. Which is why I hate paying a snake for things I know and have sense to figure out.

Well, I guess I have more of an issue paying for the sales pitch before I even decide if I want to employ their services
 
Best friends sister is an attorney so we caught a little break, but her line of questioning was amazing and prompted many areas we never thought of.

With 3 young kids we established power of attorney, as well as asset distribution and living wills for us both in the event of a double plug pull (accident where were both vegetables)

Don't skimp
 
Well worth paying the lawyer. I'm still in the middle of a messy estate...coming up on 2 years, hoping to clear it up in the next 2-3 months.

Only do the DIY if you have few assets, no property other than *maybe* your own house. Good for young folks, that's about it.

We just redid my mom's...$400 complete including durable POA, healthcare POA, and living will. 250 just for an initial consult is no good, unless it is a very complicated situation, and you got lots of $$ and property.

I'm gonna redo mine and my wife's after the first of the year. Good idea to review and update every 10 years or so, or after any major life change or financial change.
 
I'm fine with paying for the attorney, I guess I just have issues with paying $250+ for their sales pitch/initial consult.

I already know what I want, I just need them to get started without charging me $250 on their sales pitch to tell me what I already know I want/need.



Oh and BTW, if someone had a recommendation, I'm all ears. I don't mind traveling a little if need be. The only thing I'm doing in Greenville is searching via Google and cold calling so I have no real loyalty to anyone at the moment. :)
 
Oh, and it doesn't matter how "good" your lawyer is....proofread everything thoroughly. Had a lawyer cost me about 50k one time in a partnership dissolution....he did the original papers, and although it was a 50/50 partnership deal, when it came to buying out the other party, the leftovers from a cut'n'paste of boilerplate defined it as 25/75. Grrrrrr.
 
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