What costs $0, is quick to achieve, and can be enforced if done properly? A DIY will! That is… a last will and testament that you create yourself. On the other hand, an attorney-drafted will is going to cost ya more somewhere between $250 to $8,000+, depending on your location, lawyer, and needs. With that said, there are plenty more pros and cons to DIY vs lawyer-drafted wills beyond the cost. Let’s dive into the different upsides and downsides.
What is a DIY will?
If you didn’t know, “DIY” stands for “Do It Yourself,” meaning you create the will yourself without the assistance of an attorney. Or maybe you download a will template online. Either way, you are “doing it yourself.” A DIY will can be handwritten, printed, or a pre-filled template, but it should still follow the requirements of a valid will in your state. For example, most states require that wills be witnessed by at least two disinterested witnesses, the will is signed by the will-maker at the end of the document, and the will-maker is of sound mind and legal age. There should also be a lack of duress, fraud, coercion, mistake, etc.
DIY Wills: Pros
Let’s start with the advantages of DIY wills. Here’s what’s good about creating a will yourself:
- Cost: Let’s face it–the biggest pro for a DIY will is the cost. Even if you pay for an online template, it’s still going to be significantly cheaper than hiring an attorney. With an attorney, you can expect to pay anywhere between $250 and $8,000+.
- Accessibility: It is super easy to go online and download free templates or “fill-in-the-blank” wills. Hundreds of different websites offer this tool.
- Convenience: DIY wills are convenient. You can do them from anywhere–at the hospital, at your home, at work, etc.
- Sense of control: You can take control of everything that goes into your will, when you execute it, etc. There’s a nice appeal to being able to do it on your own time and not wait on an attorney.
As you can see, DIY wills are easy to get, convenient, and FREE. What’s better than that? Well, there are some disadvantages to DIY wills, so let’s discuss…
DIY Wills: Cons
Now let’s turn to the downsides of DIY wills. Not everything in life is peaches and cream.
- Risk of errors: DIY’ing a will comes with the risk of the will-maker executing the will incorrectly and/or including typos or mistakes in the will. For example, not understanding that you need two disinterested witnesses for a valid will in most states.
- Lack of personalization: If you use a standardized template for your DIY will, you may not be getting the custom will that you need. Sometimes wills are one-size-fits-all, but sometimes they are not. This can result in your assets not being distributed according to your wishes.
- Potential for disputes: Without attorney assistance, your beneficiaries may be able to dispute the will more easily or be required to dispute the will if it’s not clear.
The bottom line is that DIY wills come with risks. You might execute it wrong according to your state laws, write terms in the will that are confusing, and you might not truly have your intentions fulfilled because the document is not customized enough.
Attorney-Drafted Wills: Pros
Let’s explore the other side of the coin–attorney-drafted wills. This simply means that an attorney assists you in creating your will. Here are the advantages of hiring an attorney:
- Accuracy: Hiring an attorney is going to heavily decrease the odds of any mistakes or issues with execution. They have done this hundreds of times and are very familiar with estate planning laws and best practices.
- Personalized advice: An attorney-drafted will offers a level of customization and expert advice that DIY wills can’t match. You’ll receive personalized guidance and explore a variety of options to create an estate plan that truly reflects your wishes and achieves your goals.
- Complex needs: If you have complex assets or a complicated beneficiary structure, an attorney can help you address these situations and minimize future complications.
- Peace of mind: The assurance of a legally sound document may provide you with peace of mind that your wishes will be met after you pass and there won’t be any disputes.
As you can see, attorney-drafted wills can provide you with peace of mind that your will is drafted accurately, avoiding future disputes and ensuring that your wishes are met.
Attorney-Drafted Wills: Cons
Now, let’s talk about the downsides of an attorney-drafted will. Here’s what to know:
- Cost: Just like everything good in life, things that are great cost money. The general cost of an attorney-drafted will should be between $250 and $8,000+.
- Time commitment: Attorneys are not at your becking call. They have other responsibilities and clients and will generally require some time from you and for themselves to get the will drafted properly. Plan for consultations and meetings with the attorney, plus time for them to draft and review.
- Dealing with an attorney: While we obviously love attorneys over here, there still can be something uncomfortable about talking to a stranger about your deepest and most vulnerable concerns, such as your passing.
At the end of the day, the question comes down: Do you want to pay money, deal with an attorney, and spend a good amount of time working on your will and waiting for the final copy? If those downsides don’t sound so bad, then maybe an attorney-drafted will is for you.
How do you choose between DIY wills and attorney-drafted wills?
So, if reading the above pros and cons of DIY wills and attorney-drafted wills didn’t bring you any type of clarity, here are some more considerations for you to mull over.
Situations when DIY might be suitable
Of course, every situation is going to be different, but here are some factors that may make getting a DIY make sense:
- A smaller estate (less money being passed down)
- Simple assets (no complex business structures or portfolios)
- Simple family dynamics with little to no conflicts or unusual beneficiary structures
- Comfortable with legal documents
- Has a small budget for a will
Situations when an attorney-drafted will might be better
Here are some situations where skipping the DIY may be more suitable:
- Complex assets
- A large estate (lots of money being passed down)
- Blended families or complex relationships
- Charitable giving intentions
- Concerns about potential challenges to the will once you pass
- Uncomfortable with crafting a legal document on your own
- Has a reasonable budget for a will
As you can see, the bigger and more complex your family and finances get, the more likely you are to need legal assistance. Things like estate taxes, probate avoidance, potential conflicts, and will language are all things attorneys can help with. On the other hand, smaller estates with simple formations can usually be done DIY pretty easily if you’re comfortable with it.
The bottom line on DIY vs. attorney-drafted wills
At the end of the day, it’s what you can afford and what you are comfortable with. Having something in place is better than having nothing, so if you absolutely cannot afford an attorney, you may want to consider going the DIY route. However, it is important to have a valid will to make sure your wishes are met and that default laws don’t apply, so there are tons of benefits to stretching out the purse strings for a lawyer. Weigh the pros and cons carefully and determine what makes sense for you! Whether you choose DIY or an attorney, prioritize creating a will that reflects your wishes and protects your loved ones.
Nicole Sheehey is the Head of Legal Content at HelloPrenup, and an Illinois licensed attorney. She has a wealth of knowledge and experience when it comes to prenuptial agreements. Nicole has Juris Doctor from John Marshall Law School. She has a deep understanding of the legal and financial implications of prenuptial agreements, and enjoys writing and collaborating with other attorneys on the nuances of the law. Nicole is passionate about helping couples locate the information they need when it comes to prenuptial agreements. You can reach Nicole here: Nicole@Helloprenup.com
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