Legal Will software

[Lord of Alcohol]

I'm needing to make a will to satisfy my sisters nagging. I've done a little bit of a search and there are many websites. some are free (but want e-mail address blah blah) and some not free. Has anyone here done an online will?

I did see a lawyer about it and he suggested several sorts of wills including-

1- the usual property will, real estate, money, belongings, etc
2- a financial permission type type will in case I am incapacitated to make decisions
3- a medical permission type will in case I am incapacitated to make decision
4- a living will, the yea pull the plug if I'm done one.

The total cost seemed a bit high ($550) considering I'm sure most of these are just forms so I told him I'd think about it. So if anyone has used an online service and are satisfied I'd be happy to know. Thanks! LoA

[ElfBane]

I would NOT do online. See a lawyer that specializes in estate planning AND has passed the bar in your state of residence (your sig sez CO). I suspect these online sites have forms that are 'one size fits all', and that is not the way probate law is. Every states probate process is slightly different. As for your list;

1. This person should be the one who will inherit. If this person doesn't live in the same state, you may need an executor.
2. This requires a power-of-attorney usually. BE VERY CAREFUL WHO YOU GIVE THIS TO!
3 & 4. This can be the same person. If possible avoid having the same person do (1) and (3&4), for obvious reasons.

So, talk to an estate planning attorney. If your estate is small and not complex, then the lawyer should do it for less than $550.

[Chewbacca]

$550.00 for about two hours work is a standard lawyer rate in my experience, however I have not used one for estate planning.

[Timber Loftis]

LoA, sorry for not responding sooner. I think the price quoted for the materials is fair given the level of complexity and specificity of knowledge of the particular state probate and estate rules.

I will tell you this though, don't forget to ask about the default probate rules of the state. For instance, generally if you die, your wife gets either 50% of your estate or splits it evenly with the kids, with the kids getting the remainder. If these are the only heirs you want, then writing it in a will doesn't exactly change much.

Also, if you've got income in annuities or trusts, or in the case of life insurance, those have named beneficiaries they pay out to that you designate, so those things are also self-effecting.

For me, for instance, my most narrow point of concern is what happens if I and my wife both die or become incapacitated at the same time. I don't mind what the default rules dictate so long as my wife is around. If she too is dead or incapacitated, there can be a problem.

Note the difference between a Living Will (which deals with life-saving treatment for those who are terminally ill or otherwise won't recover, but won't stop doctors from reviving you in the event of, say, a heart attack) and a health care power of attorney or medical proxy (giving a designee the duty of what to do if you are incapacitated and need medical attention).

Also, note that these documents need to be made known, to lawyers and doctors, if they are to have any effect. Make sure to address this with any lawyer you work with, as no one can be expected to honor a document that is unknown to them.

FYI, at my current rate, the quoted $550 buys you just over 2.5 hours of work. That's fairly efficient for what you're asking for, and such flat rate quotes, common in this area of law, usually serve to save you money rather than cost you more.