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Discussion Starter · #1 ·
Hello Everyone!<br><br>
I do not know if this is the correct forum, but I have questions about making a will. I'm starting to feel guilty that we haven't made one up yet and our kids are 7 and 4.<br><br>
My parents and my brother recommended a lawyer for us who makes up wills/trusts. He charged my parents $1300.00 (yikes!), but they think he would charge us less. Even if it is one thousand dollars, I still think it is too much money.<br><br>
Have any of you ever made up a will, set up a trust? How much did the lawyer charge?<br><br>
Have any of you used a computer program? Do you feel like everything was done legally? Which program did you use? Any advice is appreciated.<br><br>
Thanks in advance!<br><br>
Collette
 

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We used a local business to do ours and it was $1000, set up to pay in installments over the next year. Someone told me yesterday that they got all of it - will & trust - from a lawyer directly for 'a third' of what the place we used charges, but I really find it hard to believe that they got all of htat paperwork for less than $350, and I wanted to ask what they <i>thought</i> I had paid.
 

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We paid around $600 for two wills and four powers of attorney. We haven't set up a trust yet but that's something to think about in the near future for us.
 

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I started by reading up on wills - go to your local library and pick up a copy of Nolo's Will book. The one I got explained simple wills, complications, and when you really need a lawyer vs. when a simple will you make yourself (they have forms on an attached cd) should work.<br><br>
The impression I got was that simple wills can be created by you, signed and witnessed, and will work. If you have complications, then you need to see a lawyer.<br><br>
However, this advice comes with the caveat that I'm not a lawyer...
 

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I put together a will through Nolo Press software, which you can buy online. It was pretty simple, as we have pretty simple issues, nothing very complex.<br><br>
A trust is just as simple to put together with the Nolo software, however, what they don't help you with are tax issues. And since tax issues are one of the central purposes of putting together a trust to begin with, we're going to use an estate atty. to help us with a living trust. And I think $1000-$1500 is pretty standard for a basic trust.<br><br>
Hope this helps!
 

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Discussion Starter · #6 ·
Thanks Everyone!<br><br>
I really appreciate the time you all took to explain your personal experiences.<br><br>
I'm not sure what we will do, but since we want to do a trust we may just have to go through a lawyer.<br><br>
Thanks again. Collette
 

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<div>Originally Posted by <strong>kaybee</strong> <a href="/community/forum/post/6493829"><img alt="View Post" class="inlineimg" src="/community/img/forum/go_quote.gif" style="border:0px solid;"></a></div>
<div style="font-style:italic;">I started by reading up on wills - go to your local library and pick up a copy of Nolo's Will book. The one I got explained simple wills, complications, and when you really need a lawyer vs. when a simple will you make yourself (they have forms on an attached cd) should work.<br><br>
The impression I got was that simple wills can be created by you, signed and witnessed, and will work. If you have complications, then you need to see a lawyer.<br><br>
However, this advice comes with the caveat that I'm not a lawyer...</div>
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The thing is, you don't know when you have complications that require a lawyer.<br><br>
Is this really a situation where you'd rely on a book and a computer program? This is your kids future. You'll be dead. What if you did it wrong, do you want your family to be in court trying to fix it, and spending your money on lawyers then, instead of your kids?<br><br>
By using a lawyer, you have a person who can answer your question, spot issues, ask more probing questions to see if there are things that you think are "simple" but are really not so simple.<br><br>
$1300 for a will and trust is very reasonable. You may even find an attorney who will either do a payment plan, or break the process down into steps to make the cost more manageable (this is what I do for a lot of my clients with young kids.)<br><br>
Lawyers make a lot more money cleaning up the messes left behind by the preprinted forms, but, trust me, we'd rather do it right up front for less money than see families plans fall apart because they were trying to save a buck.
 
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