Will: Local lawyer or Internet form?
December 24, 2023 8:29 PM Subscribe
It's time to update my will. Is an internet will as good as one written by a local lawyer?
I have a will written about 30 years ago. I used a lawyer my tax accountant recommended. I got a will, power of attorney, and health care proxies for $250.
Things have changed since then. Before, I was primarily concerned with my mother being cared for, so I left everything to my sister with the understanding she would use my estate for my mothers care.
Mom passed last year, so now all I want from a will is to split my estate between my brother and sister. I'd appoint my sister executor only because she lives closer (200 miles vs 3000 miles).
The attorney who wrote the first will is no longer with us, I called a local attorney who quoted me $2000 for a will. I've seen internet "fill out a form for a will" sites for around $150.
I know nobody here is my attorney, but with a simple will like this (sister converts estate into cash, splits it with my brother), is an internet will sufficient, or should I spent more for a local human lawyer?
I have a will written about 30 years ago. I used a lawyer my tax accountant recommended. I got a will, power of attorney, and health care proxies for $250.
Things have changed since then. Before, I was primarily concerned with my mother being cared for, so I left everything to my sister with the understanding she would use my estate for my mothers care.
Mom passed last year, so now all I want from a will is to split my estate between my brother and sister. I'd appoint my sister executor only because she lives closer (200 miles vs 3000 miles).
The attorney who wrote the first will is no longer with us, I called a local attorney who quoted me $2000 for a will. I've seen internet "fill out a form for a will" sites for around $150.
I know nobody here is my attorney, but with a simple will like this (sister converts estate into cash, splits it with my brother), is an internet will sufficient, or should I spent more for a local human lawyer?
I'm assuming you’re in the US. If your estate may be large enough to be subject to estate tax, or to have significant probate costs, then a lawyer may be useful for setting up trusts or other ways to minimize hassle and expenses for your heirs. Whether this matters depends a lot on what state you live in, as well as your estate’s expected value.
If you aren’t concerned with estate tax, then a do-it-yourself form can definitely do what you’re asking. Nolo Press is a good source of books and digital forms.
You should also be aware that if you list a beneficiary on your bank account or other financial account, then it goes directly to that person when you die. It does not go through probate, is not part of your estate, and is not subject to your will. So when you update your will, you should also check and update beneficiary selections on all your financial accounts (including life insurance).
posted by mbrubeck at 8:53 PM on December 24, 2023 [1 favorite]
If you aren’t concerned with estate tax, then a do-it-yourself form can definitely do what you’re asking. Nolo Press is a good source of books and digital forms.
You should also be aware that if you list a beneficiary on your bank account or other financial account, then it goes directly to that person when you die. It does not go through probate, is not part of your estate, and is not subject to your will. So when you update your will, you should also check and update beneficiary selections on all your financial accounts (including life insurance).
posted by mbrubeck at 8:53 PM on December 24, 2023 [1 favorite]
Probably a person with an estate of >$13m (the threshold for federal estate tax) is not posting on here looking for will-drafting advice.
posted by praemunire at 9:34 PM on December 24, 2023 [2 favorites]
posted by praemunire at 9:34 PM on December 24, 2023 [2 favorites]
$2,000 is silly for a simple will. I can't say for sure what's typical in your area, but for example, having a supervised articling student prepare a simple will here costs about $300 CAD. Lawyers are used to dealing with people with more complex matters. You might want to look for public legal info sites, legal clinics, and pro bono/low bono services - even if you don't qualify, you will find out more about what kind of services you would need.
But don't go for any old internet form either. You want a reputable option.
There's not enough info here about the nature of the estate to say if a lawyer is needed or beneficial. Depends on what the assets of the estate would be and the total value. You could definitely make things harder on your executor with an internet will that isn't good.
Something else to keep in mind is that good estate lawyers can help you prepare other end of life documents that can ensure your wishes are respected with respect to financial and personal health matters, and make things easier on your family members if you do become incapable due to health.
posted by lookoutbelow at 9:41 PM on December 24, 2023
But don't go for any old internet form either. You want a reputable option.
There's not enough info here about the nature of the estate to say if a lawyer is needed or beneficial. Depends on what the assets of the estate would be and the total value. You could definitely make things harder on your executor with an internet will that isn't good.
Something else to keep in mind is that good estate lawyers can help you prepare other end of life documents that can ensure your wishes are respected with respect to financial and personal health matters, and make things easier on your family members if you do become incapable due to health.
posted by lookoutbelow at 9:41 PM on December 24, 2023
$2,000 is too much for a simple will, but perhaps not if you own your home and what you’re really talking about is some non-probate arrangement with (typically) a living trust and pour-over will.
It also may be this law office’s fee for accepting a new client and conducting an estate planning consultation. Lawyers are not just legal document preparation services.
There’s a tension between meeting the budget of thrifty clients and charging enough to support the cost of ethically advising them (and the potential liability involved). I deal with it every day.
posted by snuffleupagus at 6:22 AM on December 25, 2023
It also may be this law office’s fee for accepting a new client and conducting an estate planning consultation. Lawyers are not just legal document preparation services.
There’s a tension between meeting the budget of thrifty clients and charging enough to support the cost of ethically advising them (and the potential liability involved). I deal with it every day.
posted by snuffleupagus at 6:22 AM on December 25, 2023
If your assets are all to be split equally between your two siblings, can you simply list them as beneficiaries on all your assets and avoid a will altogether?
posted by DrGail at 7:58 AM on December 25, 2023
posted by DrGail at 7:58 AM on December 25, 2023
We did pay about $2k for our will...but that cost also covered the rest of a thorough estate plan, including living wills, establishing a trust, and putting all our assets in the trust. The explanation we got was that an uncontested probate in California now takes 2+ years because of court backlogs, so you should do everything possible to avoid needing that. (Not to mention how much longer it would take if someone contests something.)
posted by BlahLaLa at 1:16 PM on December 25, 2023
posted by BlahLaLa at 1:16 PM on December 25, 2023
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posted by praemunire at 8:45 PM on December 24, 2023 [1 favorite]