Home Retirement Estate Planning Do I Need a Lawyer to Make a Will?
Do I Need a Lawyer to Make a Will? Print E-mail

A lot of people are under the misconception that you need a lawyer to make a will. It's always nice to have a lawyer help draft a will, but generally it is not necessary to have a lawyer to help draft a will. In fact, most people can create a will without the help of a lawyer. All it takes to create a will are some easy self-help materials that outline how to take care of basic concerns regarding property assets and finances, such as leaving a home, small business, investments and

personal belongings to loved ones. And if there are young children involved, the will should designate a guardian to care for them, as well as name a person to manage any property the kids may inherit. So when would it be best to consult a lawyer in regards to a will? Read further and find out!

The Standard Will
When lawyers create wills, they usually use a standard form that has the same types of clauses used in most do-it-yourself wills, so most people can create their own wills without the help of a lawyer. Most lawyers have an assistant type in the client's name, the names of the people that property should be passed on to, and other basic information into the form. Most people can create a will on their own with the right software program without the help of a lawyer.

Typically, creating a will doesn't involve complicated legal rules. In most states, the surviving spouse has the right to claim a certain amount of the deceased's property. If the deceased leaves his spouse at least half of the property in their will, this generally won't become a legal issue.

When a will is drawn up, it needs to be signed in front of two witnesses. But beyond these basic will requirements, creating a will is fairly straightforward and can be done without a lawyer's assistance. However, a lawyer may be necessary for creating a will in some circumstances, especially where there are blended families (i.e., stepchildren and ex-spouses) as well as large amounts of assets to be included in the will. In these instances, an estate attorney can help answer any questions that arise, but it's not necessary to turn the entire will over to him.

When to Consult a Lawyer
A lawyer should be consulted in these situations:

  • A large amount of assets are involved in the will (e.g., over $2 million) that may be subject to estate taxes and therefore require some tax planning.
  • There are conditions in the will. For instance, if the deceased plans to leave his house in trust to the surviving spouse until she dies and then bequeath it to his children from a previous marriage afterward. Under these circumstances, a lawyer should be consulted.
  • A small business is involved and there are questions over rights of surviving owners.
  • Arrangements must be made in the will for the long-term care of a beneficiary (for example, setting up a trust for an incapacitated spouse or a mentally-challenged child).
  • One should consult a lawyer if there is a concern that survivors may contest the will, on the grounds of undue influence or incapacity.
  • The deceased wishes to disinherit his spouse or children and omit them from the will.
The vast majority of people won't require a lawyer's involvement to create a will, so this should never be an excuse for not having one.
 
Banner
Banner

Money Quote

 
"Informed decision-making comes from a long tradition of guessing and then blaming others for inadequate results." ~Scott Adams
Banner