Looking at options right now doing the online route vs going through a lawyer. Reason I'm doing this since my mom made me executor to her will, I figured now is a good as time as ever get one done. No kids under 18. Just the property we live on and other assests. Iowa seems to a lot different ways of looking at things. Any info would be helpful. What is the normal cost to have one done. On line ranges from like $300 and up and like $20/year to update. Have no idea what attorney rates are.
Making out a will
- Thread starter CloneKing
- Start date
Trust and Will site is like $295 for a couple and like $20 per year. $200 for attorney help for a year.
DM me and I'll give you all my information so you can leave everything to me. Thanks in advance.
Hope Woods Will In A Day. Granted I think the default is that she has you leave everything to We Will so Brent can make CW pick it all up with his truck.
I just completed one with my wife (talk about some downer conversations) we paid $500 in total and had two face-to-face meetings with the attorney, ~1 hour each. Process was really straight-forward. Not sure if it was a "good deal" but certainly worth the money for the peace of mind knowing we had a will in-place should something happen to us our young son would be taken care of.
You can likely get a "real" lawyer to do yours for about that. It's just an interview asking what you want done, come back later to review after it's written up to approve, and you're done.
CF has a sponsor that will do it for you. Or ask around among your friend groups; someone will recommend someone good to you.
My wife and I did our wills in ~2018 and this was our experience. $500 for both wills and we had a couple meetings with the attorney as part of that process. No recurring cost, and only future cost would be potentially for modifications.
It depends on where you live. I am an estate attorney in West Des Moines.
In the DSM area, most attorneys will charge somewhere in the neighborhood of 500-1000 for a pair of wills (husband and wife) plus all accompanying powers of attorney and living will.
If you want something more complicated or have specific demands, it might be more expensive.
For a revocable trust, most attorneys will charge a couple grand at least, and the more complicated/more assets typically the more expensive. Revocable trusts cost more up front but if done correctly save a ton of money later.
Basically, having a rev trust done properly will avoid probate entirely. If you just have a will, you will need to do probate. Probate fees for an attorney alone (never mind court costs and other fees) can be up to 2% of the value of the entire estate, including accounts/life insurance/real estate.
In the DSM area, most attorneys will charge somewhere in the neighborhood of 500-1000 for a pair of wills (husband and wife) plus all accompanying powers of attorney and living will.
If you want something more complicated or have specific demands, it might be more expensive.
For a revocable trust, most attorneys will charge a couple grand at least, and the more complicated/more assets typically the more expensive. Revocable trusts cost more up front but if done correctly save a ton of money later.
Basically, having a rev trust done properly will avoid probate entirely. If you just have a will, you will need to do probate. Probate fees for an attorney alone (never mind court costs and other fees) can be up to 2% of the value of the entire estate, including accounts/life insurance/real estate.
Why I recommend hiring an attorney that charges by the hour if the estate has any size to it. You can save a lot of money doing it that way.
There are some things that you should use a professional for. I believe that the caretaking of literally all your assets is one of those things. Use an attorney.
I need one that I can update daily.
These kids dip in and out of my inheritance plans pretty much daily
These kids dip in and out of my inheritance plans pretty much daily
I would do an attorney that knows your state
I remember some wonky stuff in Ohio for my Dad’s will that I was executor of that his lawyer laid out for him. Especially around how some weird crap like if you weren’t named in the will and you had some certain level of connection (like his brothers and sisters) then they could technically claim/sue for a percentage.
So he actually named each of his brothers and sisters and gave them a dollar to make sure to get around that. Everyone understood it was so everything went to his children and wife AND I doubt any of his siblings would do that but there’s some wonky crap in every state.
I remember some wonky stuff in Ohio for my Dad’s will that I was executor of that his lawyer laid out for him. Especially around how some weird crap like if you weren’t named in the will and you had some certain level of connection (like his brothers and sisters) then they could technically claim/sue for a percentage.
So he actually named each of his brothers and sisters and gave them a dollar to make sure to get around that. Everyone understood it was so everything went to his children and wife AND I doubt any of his siblings would do that but there’s some wonky crap in every state.
Check if you have legal coverage through your employer. I got mine done for free because I had this.
Hope Wood , JD
Secure your future with an estate-planning attorney you can trust.
www.hopewoodjd.com
She's a CF sponsor. Promo code "fanatic" saves you 50 bucks. Great person.