A will is a legal document that guarantees that your assets and property are appropriately managed when you pass away – according to your wishes. Thus, it’s vital that you always have an accurate and up-to-date will in place. Aside from ensuring your peace of mind, having an accurate and up-to-date will also allow your family members to know exactly what they need to do and what you wished for them to receive – hopefully avoiding any arguments or disputes over your assets after your death.
Before the inevitable happens, it’s essential to discuss important matters with attorneys who specialize in wills.
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Types of Wills
Depending on the type of assets and property you own and your specific circumstances, the kind of will you will need depends on those factors. The two types of wills are simple and complex. As with most cases, something simple will require a more straightforward process, and thus will be less expensive to produce. On the other hand, if you have a significant amount of assets and property, it will usually need a more comprehensive insight as more considerations are factored in. And so, before you can produce a will, more management and expertise will be required, resulting in more costs.
Essential Questions to Ask Attorneys Who Specialize in Wills
Before employing a will and estate planning attorney to draft your will, it’s important to know what questions to ask. Legal services, whatever they may be, can be complicated and convoluted – thus, the expenses associated with them can be costly. The total cost to make a will relies on what type you require, the specific services you need that apply to your situation, and any unexpected situations that may arise.
However, even the most challenging scenarios have straightforward processes. Generally, a will and estate planning attorneys should provide a clear insight into how much you will need to spend on a will right from the beginning. It doesn’t have to be the exact price; attorneys who specialize in wills should give you a good range. Don’t hesitate to ask questions whenever you don’t understand something. Many of us feel reserved and unsure whenever we don’t know something; however, when it comes to legal matters, it’s more important to ask questions than be left in the dark.
Here are the key questions you can ask your will and estate planning attorney:
What is the consultation fee?
Some lawyers offer a free consultation, and others don’t. However, that’s not indicative of whether or not they will give you a competent or reliable legal service. Still, it’s an excellent way to gauge their personality and how they handle things prior to engaging their services.
How do you break down the cost of your services?
Attorneys who specialize in wills have different levels of experience in this area. Thus, experience and skills are significant reasons the cost of services differ from one attorney to the other. Don’t hesitate to contact the will and estate law firm you are interested in working with to get an idea of the cost that matches your specific situation.
Could the fees change over time?
In many cases, certain unforeseen circumstances have a significant impact on how much you need to spend on your will. With that being said, changes in costs do not always equate to an increase.
Questions You Need to Answer
In turn, attorneys who specialize in wills will need to ask you questions in order to determine the legal services they can offer you. Thus, be prepared to answer the following:
- Who do you want to leave your assets and property to?
- Who do you want to look after your minor children when and your partner pass away?
- Do you have any disabled dependents?
- If you have a pet, what arrangements do you want to make for them?
- Do you wish to leave any gifts to organizations or charities?
Factors that Influence the Final Cost of a Will
Attorneys who specialize in wills will consider the following factors that may notably influence the final cost of a will:
- If you’re divorced, have separated, or have remarried
- If you have a blended family
- If you want to give specific gifts with certain conditions
- If you’re going to leave someone out of your will who is expected to be included in it
- Family or company trusts
- Loans you’ve procured before your death
- Properties you possess as joint tenants