The Professional Path: Working with an Estate Planning Attorney
While a DIY will can be a great tool for some, it is not a one-size-fits-all solution. An estate planning attorney does more than just fill in a form; they provide personalized counsel, strategic advice, and the invaluable peace of mind that comes with knowing your affairs are in expert hands. Understanding the benefits of this path helps clarify the limitations of the DIY approach.
The Pros of Hiring an Attorney
Engaging a lawyer is an investment, and like any good investment, it should deliver significant value. Here’s what you get when you work with a professional.
1. Personalized Legal Advice. This is the single most important advantage. An online form cannot ask follow-up questions or understand the nuances of your family dynamics. An attorney can. They will listen to your goals, assess your financial situation, and offer strategies you might not have known existed. They can help you navigate tricky questions like, “How can I ensure my son from my first marriage is treated fairly?” or “What’s the best way to leave money to my favorite charity?” This is legal advice, which DIY services are legally prohibited from providing.
2. Skill in Handling Complexity. As your life becomes more complex, so does your estate plan. An attorney is essential for navigating situations like:
- Blended Families: Providing for a current spouse while ensuring children from a previous marriage receive their inheritance requires careful planning, often with trusts.
- Business Ownership: A will alone may not be sufficient to handle the transition of a business. A lawyer can help create a comprehensive succession plan.
- Significant Assets: If your estate is large enough to be subject to state or federal estate taxes, an attorney can employ tax-minimization strategies that could save your family a substantial amount of money.
- Beneficiaries with Special Needs: Leaving money directly to a person with a disability can disqualify them from essential government benefits like Medicaid or SSI. An attorney can set up a “special needs trust” to provide for your loved one without jeopardizing their eligibility.
- Disinheritance: If you plan to leave a close relative (like a child) out of your will, it must be done with precise legal language to minimize the risk of a successful court challenge.
3. Certainty of a Valid Document. One of the most common reasons wills are contested in court is due to “improper execution.” An experienced estate planning attorney will supervise the signing ceremony, ensuring that all state-specific requirements for witnesses and notarization are met flawlessly. This drastically reduces the likelihood of your will being invalidated on a technicality.
4. A Holistic Approach. A good lawyer doesn’t just draft a will. They look at your entire estate planning picture. They will discuss other crucial documents like a Durable Power of Attorney (to manage your finances if you become incapacitated), a Healthcare Power of Attorney (to make medical decisions on your behalf), and a Living Will (to state your wishes for end-of-life care). This comprehensive approach ensures you are protected not just after death, but during any period of incapacity as well.
The Cons of Hiring an Attorney
The drawbacks are straightforward but significant for many people.
1. Cost. There is no getting around it: hiring a lawyer is more expensive. The price can range from several hundred dollars for a very simple will package to many thousands for complex plans involving trusts.
2. Time and Effort. The process typically involves an initial consultation, gathering financial documents, and at least one or two more meetings to finalize and sign the documents. It requires a greater time commitment than a quick online session.
