Where To Go To Create A Will

March 06, 2019

I’m sure you’ve heard before that having an estate plan is a crucial part of your financial plan. One crucial element of your estate plan is your Will – especially if you have minor children (as my colleague Doug Spencer outlines in this post).

Unfortunately, this is an area that is often put off for a variety of reasons. One reason we procrastinate on our estate planning is concern over the complexity and cost we think will be involved, but that’s actually not a super valid reason, based one what I know.

With this post, I want to dig into the various options for creating a Will (and other crucial estate planning documents) to help with eliminating at least one hurdle that may be stopping you.

4 different ways to create your Will

Estate planning attorney

A lawyer that specializes in estate planning can be a tremendous help in determining what documents are appropriate for you and making sure those are drafted accurately to reflect your intentions. This would certainly include your Last Will and Testament.

This option would typically be the most expensive one – but as my fellow-planner Erik Carter points out, you may be able to access an estate planning attorney at a discounted through your EAP or a pre-paid legal plan at work. Erik’s post is also a great resource for other ways to find a good attorney to help you with your Will.

Check at work

As mentioned above, your employer may offer some options to draft your will through either your EAP or a pre-paid legal benefit. Often, these plans offer free online Will services or discounted rates to consult with an attorney.

Software/online options

There are a host of programs available online to help guide you through the process of creating your own Will. You can check out this review to evaluate which features you value most, including:

  • Overall functionality
  • Need for frequent changes
  • Simplicity
  • Ease of use
  • Cost

This is the option my wife and I went with to create our will way back when, and it was relatively painless to get through.

Back of a napkin

You’ve probably heard the old saying, “Just because you can do something, doesn’t make it a good idea.” I would say that applies to this option. Not every state allows a holographic, or hand-written Will and it may open the Will up to contestation. However, in some cases it can be valid. You can learn more about this option here if interested.

Bottom line

You need a Will. Period. Regardless of age, wealth, or assets.

It is certainly not the only part of your estate plan you need to address, (while linked in the intro, this post from Scott Spann outlines other important steps – and how to accomplish them!) but it is an important step to take. Hopefully the resources here will help make it easier for you!