The two important factors that determine how much a will cost are time and expertise. The expertise is in the attorney that executes the last will and testament. How long has the attorney been executing wills, not necessarily how long the attorney has been practicing law is much more important. If the attorney has been a criminal defense attorney for 20 years, does not make him as skilled as a new attorney with less than one year of experience but has written a dozen wills versus the other attorney who has never written one.
The other important factor that determines how much a will cost is time. The attorney most likely charges by the hour. The age old time is money scenario. Typically you will meet with the attorney at his or her office and spend an hour or so going through your needs and final wishes of what happens to your property, your children and even your pets upon your death. This will take an hour or two depending on how much you need to accomplish. The attorney takes your information and drafts all of the legal verbiage based on your final wishes. Again this takes more time. Then you will meet with the attorney again to go over your last will and testament to be sure your wishes have been properly conveyed. Again this meeting is about another hour. Purchasing a will in this fashion will cost you about $600 to $1,500 depending on your attorney and geographic location. Certainly not couch cushion change.
Now with technology advancing like it has in the past decade, you can purchase a will online at a fraction of that cost. There are several websites that can be found to purchase a will from free to $700. As a consumer you must be aware of the website you choose to purchase a will. The so called “free wills” will require you to join a club or make a purchase of a product you may or may not need. This trap can be a gimmick to make you pay for services you may never use. Other websites are called “sales funnels” which give you a simple document cheap, but require you to go deeper into the “funnel” to purchase the needed documents to complete your last will and testament. These websites can cost a naïve consumer hundreds of unexpected dollars.
Be sure and do your homework regardless of whether you decide to purchase your will from a live attorney or the online website will purchase. Be sure and ask friends, family and coworkers how they purchased their will and how much did their will cost. Whichever way you decide to purchase your will, do it today and don’t leave a mess for your loved ones to clean up. It is just too important.
“Caveat emptor–Latin for ‘let the buyer beware’”
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Author Tim Wilhoit is a Co-Founder of Ready Wills www.readywills.com . Tim Wilhoit is also owner/principal of Your Friend 4 Life www.yourfriend4life.com Insurance Agency in Nashville, TN. He is a family man, father of 3, entrepreneur, insurance agent, life insurance broker, salesman, sales trainer, recruiter, public speaker and author and team leader with over 28 years of experience in sales and marketing in the insurance and beverage industries.