As you get older, it’s more and more important to have a will drawn up. Wills are used to distribute your property, name guardians for children, forgive debt, and dozens of other reasons.
If you’re in need of a will you might be wondering, how much does it cost to have a will drawn up?
The cost of a will depends on the depth you’re going into. Although no one wants to make arrangements for their death, it’s something that needs to be done.
Understanding the cost of a will takes time; much like the process of drawing it up.
How Much Does it Cost to Have a Will Drawn Up?
A basic will can be written for around $300 at it’s lowest. This is a reasonable and affordable price but in some cases, wills can cost up to $1,000 or more.
If you need management of estate planning, additional documents, or deep developments, be prepared to pay a higher price.
Before you consider a lawyer you should learn more about the process.
Flat Fee vs Hourly
Lawyers operate under different payment options. Two of the most popular are hourly and flat rate costs.
With the average cost of a will somewhere between $300-$1,000, some lawyers find flat fee arrangements eliminate the stressors you experience with will drafting. This process lets everyone relax.
There are no time restraints, deadlines, or hidden fees.
With an hourly billing rate, you might be wondering how much does it cost to have a will drawn up broken down into hours? Lawyers in bigger firms charger higher rates than smaller firms.
There are also some discrepancies with types of lawyers. Each can be more or less experienced/knowledgeable in different areas. These developments lead to price changes.
In most cases, lawyers operate under six-minute increments. You’ll never be billed for anything less than six minutes of their time regardless of the conversation type.
Do it Yourself
If you feel like you don’t need the experience of a lawyer, you can draft the will yourself.
This is by far the cheapest option of the lot, but also the most difficult. Sample templates can cost as low as $10 for the generic forms, but hundreds of dollars for comprehensive packages.
In order to help you through the process, there are a number of specific templates available for download. These templates the fee, but in some cases, these may not meet the needs of your situation.
When dealing with a lawyer directly, there are fewer hurdles to jump through.
Invest in the Future
As your life progresses, you want your family to be set up for life after death.
Now that you know the answer to how much does it cost to have a will drawn up, you can make an informed decision.
If you need a lawyer you can trust, give us a call. We have professionals that are ready to make a difference in your will preparation. Regardless of the services you need, we can handle multilevel and involved wills.
Invest in the future of your family today.