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June 27, 2006 7:01 PM Subscribe
What is a reasonable cost for the preparation of a will?
posted by nanojath to Law & Government (15 answers total)
I know there is a lot of web-based information on the subject, and I'm looking at it, but I'm hoping for some firsthand advice from people who shopped around and particularly that perhaps a couple of lawyers with relevant experience might weigh in.
30's, married with one child: we need to get our wills in place now. The situation is a house (owned 4 years, worth maybe 15% over principle), 2 retirement accounts worth combined less than $100,000, two insurance policies totalling less than $500,000, minor assets otherwise.
I got a recommendation of a 2 person firm from a financial advisor who I trust (and from whom I've gotten a lot of good advice that has consistently been to my benefit). I discussed our situation with one of the partners and it all sounded good but the quote for 2 wills with no estate tax issues gave me sticker shock - $800 (this was a flat fee).
I'm totally naive about legal work; I've never had to hire a lawyer before. I'm really not interested in a DIY solution. I'm willing and able to make this kind of investment. My needs are that our wills be thorough, to the extent possible eliminate unecessary work/decisions/anxiety for survivors, and obviously that it be legally impeccable. I'm confident I'll get these things with this attorney but I'm wondering how much I could save by shopping around. Are there benefits to consider that might come with higher cost service? Our situation is likely to change fairly slowly and incrementally (and very likely no more kids) - how many years can I expect to get out of a will without needing some legal retuning?