How Much Does it Cost to Create a Will?

By Teo Spengler

More than half of American adults have no will, notes the American Bar Association. This is due in part to the general perception that will preparation is complicated and expensive. While lawyer time adds up fast, people with simple estates can usually prepare their own wills at very little cost -- and since a will lets you name your heirs and the guardian of your minor children, the costs of not having a will can be substantially greater.

More than half of American adults have no will, notes the American Bar Association. This is due in part to the general perception that will preparation is complicated and expensive. While lawyer time adds up fast, people with simple estates can usually prepare their own wills at very little cost -- and since a will lets you name your heirs and the guardian of your minor children, the costs of not having a will can be substantially greater.

Free: Holographic Wills

In some states, all you need to prepare a will is a pen and paper. Most states authorize handwritten wills -- also called holographic wills -- in emergency situations where the testator fears for her life. Some states, including California, validate holographic wills under all circumstances. In these states, a testator simply writes out her will by hand, including her identification, her devises and her executor. When she signs and dates it, the will is executed and valid.

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Almost Free: Statutory Wills

Perhaps recognizing the cost factor of wills, some states made will drafting easy by inserting the bones of a last testament into the probate statutes. Statutory wills contain all required language as well as express instructions for execution. To access a statutory will, obtain a copy from the probate court, download it on your home computer or copy the statute at the law library. A testator fills in the blanks with her personal information, then signs the will before the required witnesses (see Resources).

Not Too Expensive: Form Wills

If your state does not offer a statutory will, buy a form will. Form wills look like statutory wills except they are not found in the state statutes. Try the stationary store, legal form store, probate court or law library. Like statutory wills, form wills provide the verbal framework of a last testament with blanks for you to fill. The cost varies from free to around $50 in 2010, but a higher price tag does not guarantee a better product. A good bet is a state-specific form will approved by the local Bar Association.

Expensive to Very Expensive: Attorney-prepared Wills

Lawyers specializing in will preparation are called estate attorneys. Since lawyers charge what the market will bear, prices for testament work are all over the map. Some firms offer simple wills for a set fee, while others charge in time increments -- ranging from around $60 to over $300 an hour. Complex estates benefit from legal advice, and estate attorneys help minimize estate tax as well. Your local Bar Association provides references to qualified practitioners and sometimes to low-cost legal clinics.

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Procedure for Writing a Will

References

Resources

Related articles

How to Make a Will Legal for Executor of Will After Death

The executor pilots the last will and testament through probate. She takes charge of the estate of the deceased, files the will in probate court and administers the property through distribution. The probate court supervises the executor's actions -- from the time the will is filed in probate until final distribution of assets to heirs -- to assure honesty and accuracy. A valid will is a legal will. To provide a legal will for the executor after your death, draft and execute your will according to state requisites.

How to Get a Will

Many people postpone writing a last will and testament on the assumption that the process is time-consuming and expensive. While tax planning and legal assistance benefit large or complex estates, form wills often work well for simple holdings. Form wills contain the bare bones of a last testament; you fill in the blanks to personalize the document. Few states regulate the contents of devises, but most provide strict statutory requirements for how to sign the will. With a well-prepared form will, you "get a will" in one afternoon.

How to Write a Will for Property

Modern courts make no distinction between the terms "will" and "testament." Both describe a document indicating who is to inherit your assets at your death. Although complex estates profit from tax planning and legal assistance, form wills can work well for simple holdings. States impose few rules about the provisions of your will, but are particular about how you execute the document.

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