Having an an attorney create your estate planning is worth the cost according to a Kiplinger.com quiz about service costs and their worth (http://www.kiplinger.com/quiz/is_it_worth_it/index.html?qid=56). Question #4 on the quiz asks whether hiring a lawyer to draw up your will is worth the cost. If “no, save your money” is chosen, the response states:
Your answer B. Save your money is incorrect.
The right answer is A. Worth the cost
This is not a time to take shortcuts in the hope of saving a few bucks. It makes sense to pay a competent lawyer a reasonable fee to write a document that will lay out your wishes and stand up later to scrutiny by the probate court, your beneficiaries and anyone you choose not to make a beneficiary. The lawyer’s fee can range from $300 or so for a simple will to $200 an hour for a complex estate. But that’s cheaper than a costly court battle later.
As an estate planning attorney I routinely advise individuals and couples that the costs of having a competent attorney create their estate plan pales in comparison to the potential costs – financial and emotional – if not done correctly. I am pleased to see agreement from a financial publication. Sometimes it is better to hear it from someone outside of the practice area.
I enjoy each opportunity I have to help individuals and couples with their estate planning needs. Providing them peace of mind – knowing that their family and assets are protected and taken care of – is a priceless privilege. I encourage each person reading this to take it as a reminder to talk to a competent estate planning lawyer at their earliest convenience to save potential headaches down the road.