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Does creating an estate plan have to cost an arm and a leg?

| Mar 24, 2021 | Estate Planning And Probate |

For some Michigan residents, the idea of creating any type of legal document may seem out of their reach. They may think that getting professional legal help will cost a fortune and that they would be better off handling matters like creating an estate plan on their own. However, taking a DIY approach could end up costing more in the long run. 

Estate planning is a process that needs to be done correctly. When it is, it can offer many benefits to family members and the person creating the plan. Though the idea of spending a few minutes online creating a will through a fill-in-the-blank form may seem more appealing than creating a detailed plan with professional help, online forms are typically not as customizable as many people need. These forms could leave surviving family members with many questions and may lack protections for preserving estate assets and wealth. 

If individuals do have concerns about what they will spend on estate planning, there are ways they can get the assistance they need while also keeping cost in mind. The following tips may prove helpful: 

  • Do your research and know what you want to include in your plan. Having this information upfront could save time and money. 
  • Understand the scope of what an attorney may do to help you create your plan and what that help may cost. 
  • Discuss fees upfront and how services are billed, such as hourly or a flat fee for a particular service. 

The adage of “you get what you pay for” certainly applies to legal documents. Getting a form online for free or a small fee may leave your plans with gaping holes or may not even comply with Michigan laws for a valid will. In those cases, your plan may be completely unusable for your family. Instead, interested parties may want to take the time to create their estate plan properly. 

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