What's a reasonable price to have a will drawn up?

[kymom99]

This thread made me really start to think about the fact that DH and I don't have will. So, I texted my good friend that is an a lawyer and she is going to help us draw one up. Our problem is agreeing on who to leave things to once we are both gone since we don't have any kids. I think we should skip a generation and just leave it to nieces/nephews since we are very close in age to our siblings and so to me it doesn't make sense to leave things to them when they will be old like us. DH thinks we should just name our siblings in the will.

My uncle and his wife had no kids and left their money to their godchildren. I believe there were 5 of us. I got $5000 when I was about 30, which really helped us as we started our family.

 

[Darcy03231]

To the OP and anyone reading this. Please go to a professional to have your estate plan done. It may cost more than the "on-line" or "kit" forms, but there's a good reason why. Every state is different in their requirements and the on-line/kit forms don't have the experience to ask questions you may have never thought of.

I work in a law firm and you have no idea how many people come in with their parents/grandparents/siblings/etc. wills that were drawn up by non-professionals, came from a kit or on-line, or were done in another state and the will doesn't comply with the laws in our state to be a valid will. Trust me, the estate ending up paying far more in legal fees to get everything straightened out that it would have cost to just see a professional and make sure it was right in the first place.

If you have a will that was drawn up in another state and have moved, make an appointment in your new state to make sure your old will is still valid. Any reputable attorney would be happy to review it for to make sure and the cost should be minimal.

 

[Sadie22]

This thread made me really start to think about the fact that DH and I don't have will. So, I texted my good friend that is an a lawyer and she is going to help us draw one up. Our problem is agreeing on who to leave things to once we are both gone since we don't have any kids. I think we should skip a generation and just leave it to nieces/nephews since we are very close in age to our siblings and so to me it doesn't make sense to leave things to them when they will be old like us. DH thinks we should just name our siblings in the will.

Your wills do not need to match. You can each have your will written the way you want. DH and I have different provisions in ours.

 

[TheSixOfUs]

$350-600 is a decent price on the lower end of the spectrum. We did ours ourselves with a kit for $20. I probably should have it done professionally sometime.

 

[DisneyHardin]

Your wills do not need to match. You can each have your will written the way you want. DH and I have different provisions in ours.

Thanks. I had no idea. I just assumed a married couple had one will. I’ll pass this info on to him.

 

[kymom99]

Thanks. I had no idea. I just assumed a married couple had one will. I’ll pass this info on to him.

No, you each have your own.

 

[mdelano4]

I am a lawyer (although I don't do estate work). It really depends on what you need/want. You should have a will, power of attorneys, durable health care POA, etc. You might as well do it all at once. I would highly recommend going to a reputable attorney rather than doing it yourself. Every state has different laws as to the number of witnesses, etc. If you don't follow the rules, it may not be a valid will. Get some recommendations from friends and family. Every situation is a bit different so it is difficult to estimate but between $600-$1200 seems reasonable to me.

I am also a lawyer. I will do simple wills, but none which require estate planning. I absolutely agree with Crystal824. A lot of people have posted advice, but the truth is your post does not give enough information to really comment with any accuracy. It depends on the state where you live and on the size of the estate, among other things. A very simple will can cost you somewhere in the $100 to $150 range. Something more complicated will go up, depending on the level of complication. If there are tax issues, it can get pretty pricey, but it's worth it to make sure the right person does the job. Ask people you know for recommendations and interview a number of lawyers before making your final decision.

 

[Sadie22]

Thanks. I had no idea. I just assumed a married couple had one will. I’ll pass this info on to him.

it is unlikely for both to die at the same time, so two separate wills are needed.

 

[tcufrog]

We are in the process of drawing our's up with an estate planning attorney. Our's is going to be quite a bit more expensive than quoted here but we have a complicated situation. My dh co-owns two businesses and we own land and a house. The attorney is putting in some extra protections in place to protect our assets in case the businesses are sued at some point.

 

[Buzzsgramma]

Whatever the cost ...please have a will drawn up.......appointment or designate people you would want to raise your kids....most important thing to us..many years ago...
right now i see a family member going thur he__ with her siblings...cause of no will for a home that was left and the father's 40l-K...etc...you do your heirs no good when you have no will or power of attorney for health care etc...
.
make sure your beneficiaries are up to date on insurance policies and 401-K etc accounts..
i am an only child ...my parents were adamant regarding that I knew where all info was regarding any estate they had... never mind you will do it later...that may come sooner than you think...