Cons of Attorney Drafted Wills

A good attorney, like a pelican, can be recognized by the size of his bill. - O. Simpson

Having an attorney put together a will can be expensive. Whether they charge a flat fee or an hourly rate for their services, a basic will package can easily cost you several hundred dollars or more. The amount charged by the attorney will increase from there depending on such factors as the attorney's hourly fee, the complexity of the will itself, and whether additional services are involved like establishing a trust or long-term tax planning.

You should never be in the dark as to what an attorney's services will cost you. Attorneys are required to clearly spell out their fees and go over them in advance with a client. Nevertheless, it should still be helpful for you to have a ballpark figure of the costs involved before meeting with the attorney.

Save Money According to a CNNMoney report, a basic will plan can cost you $300 to $2,000 when you go to an attorney. These fees include the price of a will, a living will, a healthcare proxy, and a power of attorney. If you set up a trust in addition to the above package, the price is likely to go up from there. Expect to pay more the more complex your will and your trust become.

At the same time, it is also important to know what you are spending all this money on. Although they are generally competent and expected to handle any legal matter, attorneys do have varying degrees of skill and ability.

Planning Tools To help you clarify your situation regarding future health care and control of your assets, take a look at our Sample Power of Attorney and Medical Treatment forms. These state-approved forms can help you make decisions about your specific financial, health and estate planning needs.

Be alert for attorneys who don't do a lot of estate planning. They may rely on will drafting kits themselves. You may not get the added value from them that you will from an attorney who consistently works on estate planning and will drafting. That's why choosing the right attorney can be so important. Take care in selecting the attorney that can provide the level of knowledge and experience you need.