Peace of mind isn’t as expensive as you may think. Find out how much you’ll need to spend to protect your assets and loved ones’ future.
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by Miles Almadrones
Miles is a legal writer and content marketing specialist with a background in operations management and logistics. He...
Updated on: August 27, 2024 · 9 min read
Many people hesitate to create a last will due to concerns about the expenses, but the exact price depends on which method you choose. You can technically write your own will for free, use an estate planning service for $10 to $250, or pay an attorney between $300 and $1,000 or more. Let’s take a look at these options in closer detail and a few additional factors that might affect the overall price.
The cost of creating a will depends on your location, the size and complexity of your estate, and how comfortable you are working with legal documents. Consider these options to get an idea of which option might be right for your needs:
Create your own will: Free
Use a free online template: Free
Online estate planning tools: $10–$250
Hire an attorney: $300–$1,000+
While more affordable options like DIY methods and free templates are available, they may not provide the same level of legal assurance or flexibility as professional services. That said, having a will—even a simple one—is generally better than having no will at all.
Regardless of which method you choose to prepare your will, it’s important to understand what the process involves and how it fits your budget.
Here’s what you should know about each option before committing to one:
The most cost-effective way to create a will is to write it yourself. Also known as a holographic will, this is a handwritten legal document that outlines your final wishes for the distribution of your assets. However, holographic wills aren’t legal in every state. Where they are legal, they typically must be entirely in your handwriting, signed by you, and in some states, notarized. You can also create a will for yourself using a computer, but a typed will may be subject to additional requirements.
Whichever method you choose, the document must still adhere to your state’s laws to be valid and legally binding. After confirming your state’s requirements and regulations, you will generally complete the following steps:
While the potential to save money is appealing, the most notable risk is the potential for legal errors and omissions that render the will invalid. Conversely, if errors are discovered later, you may incur additional costs for correcting the will.
This option may work for individuals with straightforward wishes and simple estates, as well as those who feel confident in their ability to draft a legally sound document. However, it’s always a wise decision to explore other options that offer more assurance.
Online templates offer a middle ground between writing your own will from scratch and using paid services. You can find will templates on various websites—most of which offer free options—and simply fill in the blanks with your personal information and wishes. Still, you’ll want to research and choose a reputable source, ensuring the template meets your needs and the state’s requirements.
However, similar to the risks of writing your own will, a template may not fully address all legal requirements of a will or your individual needs—even if it comes from a reputable source. State laws vary, and a generic template might not comply with specific standards in your jurisdiction. Moreover, templates generally offer limited customization, which might not account for all your needs or aspects of the estate planning process.
If you’re looking for more guidance beyond what a template can offer, you can use an online estate planning tool or document preparation service to walk you through it. These services typically provide state-specific forms that comply with your jurisdiction’s laws, as well as other important documents like healthcare directives and powers of attorney.
Online estate planning tools are an excellent option for those who want a more reliable process without the higher costs associated with hiring an attorney. While these tools cost more than DIY methods, they’re more likely to cover all necessary legal elements and provide greater peace of mind.
Additionally, services like LegalZoom offer direct attorney support, reviews, and revisions to ensure that your documents are legally enforceable and tailored to your specific needs. Basic last will packages start at $149 for individuals and $249 for couples, but you can also research other online services to compare prices.
Hiring an estate planning attorney to draft your will is undoubtedly the most thorough and secure option. While it ’s the most expensive choice, it can be invaluable for those with large or complex estates, specific legal needs, or special considerations that require careful planning (such as trusts or charitable donations).
The cost of hiring an attorney to draft a will can vary. For a very basic will, attorneys may charge a flat fee ranging from $300 to $600. For more complex estate planning needs, attorneys often bill between $100 and $500 per hour, depending on the lawyer’s experience, area of practice, and the complexity and amount of work involved. Altogether, a comprehensive will prepared by an attorney can run up to $1,000, if not more.
Despite the higher cost, working with an attorney has several advantages:
In many respects, an attorney’s expertise and guidance outweigh the additional cost. If you still have doubts, you might consider meeting with a family law attorney to determine if you should move forward, as many of them offer free initial consultations.
Like other legal matters, you might be responsible for additional fees related to preparing or amending your will. Here are some potential costs to keep in mind and where you might encounter them:
Notarization is the process of having a notary public officially witness and authenticate the signing of your will. Depending on your location, fees generally range from $5 to $15 per signature. While notarization isn’t always required by law, it’s highly recommended, especially if you anticipate any challenges to a will you wrote yourself.
A comprehensive estate plan often includes more than just a will. Other estate planning documents you might need to prepare (and potentially pay for) include the following:
The exact costs for these documents can vary depending on your chosen preparation method and location. When using online estate planning tools like LegalZoom, these documents are often bundled with will creation, potentially offering better value than creating each separately.
As your life circumstances evolve, you should update your will to reflect these changes. Some situations that might necessitate a revision or adjustment include the following:
The costs for these updates can vary, as some online services offer annual subscriptions or a certain amount of revisions. Likewise, an attorney’s rate factors in the amount of work required, so a minor change is likely minimal, whereas significant revisions could be priced similarly to creating a new will.
While not a direct cost of creating a will, it’s important to plan for potential probate costs your estate may incur after your passing. These expenses, which include probate lawyer fees, typically range from 3% to 7% of the total estate value and, in some cases, even more. However, careful estate planning can often minimize or avoid these costs, not to mention some of the stresses of the probate process.
While it may seem tempting to opt for the least expensive option, remember the ultimate goal of a will: to reflect your wishes and protect your loved ones. The upfront costs of using an online service or partnering with an attorney may be higher, but you’re far more likely to secure your legacy and provide for your beneficiaries as you intend.
For more information about the costs of drafting a will, here are some frequently asked questions from other readers:
The best price for a will depends on your needs, estate size, and risk tolerance. You can create one for free by writing it yourself, but hiring an attorney helps ensure the document’s validity. It’s fair to pay an attorney anywhere from $300 to $600 or more depending on complexity.
An estate planning or family lawyer is the best professional to draft a will. This type of lawyer specializes in wills, trusts, and estate law, so they’re best equipped to address your concerns and wishes for your estate.
Yes, you can write your own legally valid will. However, it’s crucial to follow your state’s requirements and confirm the document will avoid legal challenges or misunderstandings, which is best handled by an estate planning attorney.
An online service is cost-effective and provides some guidance, but it may lack personalization. Attorneys offer tailored advice, handle complex situations, and offer ongoing support, albeit at a higher cost. Still, hiring an attorney is the safer option to confirm your will aligns with your needs and state laws.
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