I'm thinking about making out a Will, Living Will, and Living Trust. I see the advertisements in the paper for these kits that cost about $20. Is filling them out as good as having a Lawyer draw them up? Sounds a lot cheaper, but will they hold up in Court when I pass away?
2007-01-30 09:55:04 · 4 answers · asked by cap3382 4 in Politics & Government ➔ Law & Ethics
It's better than nothing and most times it will hold up. There is a risk that it won't and you won't be able to tell the difference. However, spending the money now will likely save your devisees and estate thousands. So it is just a matter of whether you want to spend $20 now versus about $2000 or have your estate spend the money. You are either paying for it on the front or back - although paying up front can make a big difference to the estate. Also, poorly drafted estate documents usually end up causing litigation amongst heirs and devisees.
I like the above posters idea about filling them out yourself then taking them to an attorney to review/update.
2007-01-30 10:06:56 · answer #1 · answered by Tara P 5 · 0⤊ 0⤋
FYI - most attorneys will not "review" work done by someone else. In order to make sure the will is good to go, the attorney has to confer with you in order for them to determine if the will is doing what you think its doing. This process can take hours, depending upon the complexity of your estate.
You'll be asking a licensed attorney if a cheap will from a $20 kit is in compliance with state law and whether it will have the legal effect you want. Geesh - it would be quicker to draft it from scratch.
Pay the dang $500 bucks, get the will done right.
For example, why do you want a living trust? I guarantee it doesn't do what you think it does.
2007-01-30 20:25:26 · answer #2 · answered by NCAF33 3 · 0⤊ 0⤋
They would save you money in the long run, BUT! I would fill them out and then have a good estate attorney at least review it, cost you $200 max, to make sure you are up to current state estate law and it would be enforceable after you pass.
Gives you piece of mind and costs a lot less than having him do all the paperwork!
2007-01-30 18:03:21 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes they will hold up in court but after you draw up your will get a notery seal on it and its good to go
2007-01-30 18:00:55 · answer #4 · answered by m_a_r_i_j_u_a_n_a_t_o_k_e_r 2 · 0⤊ 0⤋