My spouse and I just welcomed twins and suddenly realized we need to get a will in place. We began looking for an attorney and discovered it could cost anywhere from $1,000 to $5,000 to have a will prepared.
We don’t have much to leave our little ones! I know there are free or online options, but are they dependable? Are they legitimate?
-Stressed Dad
Dear Stressed,
Between sleepless nights and new-parent chaos, you’ve already got enough on your plate — worrying about estate planning probably isn’t helping you rest any easier.
Still, you’re absolutely correct: it’s time to put a will in place. Think of shows like “House of Cards” — a lot of drama centers on someone’s estate planning. You don’t want your children tangled in that kind of mess, even if your life isn’t a political thriller. (And I hope your closet is relatively skeleton-free.)
One reason wills can be pricey is that they require professional expertise. Attorneys who are well-versed in local laws and can tailor documents to your family’s situation charge for that knowledge and customization.
That said, it’s still a transaction: money exchanged for services. You can and should comparison-shop. Don’t feel obligated to hire the first lawyer who offers a free consult. Ask specific questions about fees and what’s included. If they dodge the issue or don’t give clear answers, move on until you find someone you trust.
I know time is scarce right now — and that’s why online will services look appealing. I’ll confess: I’m more likely to pay for something that lets me avoid a phone call or a face-to-face meeting, whether that’s wise or not.
The trade-off with online platforms (LegalZoom, Rocket Lawyer, Willing, Nolo, and others) is that you often sacrifice individualized guidance. You’ll save a lot, but you may end up with a document that isn’t perfectly suited to your circumstances and could create complications for your heirs down the road.
If you opt for an online provider, do your homework. Read customer reviews and ask questions before you hand over your payment — just as you would for home repairs, auto work, or medical services. Don’t skip the research because you’re exhausted and panicked about not having a will. Take a breath and make an informed decision.
Also consider checking resources that explain how to get a will online so you understand the options and pitfalls before committing.
Most importantly: get a will sooner rather than later, and review it periodically to keep it current. No matter your age or health, having that legal safeguard in place is wise in case the unexpected happens.
Worried you’re missing key money moves? Reach out to Dear Penny at https://www.thepennyhoarder.com/dear-penny/
Alex Reed is a personal finance writer and senior contributor at Savinly, and the voice behind Dear Penny. For more practical money advice, visit www.savinly.com.
