A will declares the intentions of the writer and does more than just protect financial assets.

A “Will” is the colloquial term for the pairing of a Will and a Testament.  Historically a Will was limited to real property, and a Testament was used for personal property.  In practical and oversimplified application, the writer of this document determines how their property shall be managed after they pass away.  While this is the most commonly used Estate planning tool, more and more people are finding preference with other instruments.

Do I even need a Will?

This is where we start our conversations with our clients;  ”Do I need X?  What about Y? and Z?” The response is that its not a question of NEED, its a question of benefit.  So you might ask, “what is the benefit of a Will and is it worth it to me?”

It might sound like a typical lawyer’s answer, but the specific answer to that question depends on each individual circumstance.  As a general rule, consider these benefits.

1.  Nobody can question what your intent was after you pass away.   The larger your family, the more important it is that you address this concern.  Along with the heartache of losing a loved one and mourning comes the questions regarding the sentimental or monetary value of certain pieces of property.  A Will determines the intent of the writer and can be as specific as you want to avoid this type of experience.   Without a Will your intent can be contested, whether by two siblings who want an antique car or a third party debt collector who says that you give up your house to relieve a debt.

2.  If you pass away without a Will, the Commonwealth uses the law of intestacy to determine where your assets go, and many people make the mistake of assuming that they know what this law is and how it applies to them – why take the chance?

3.  A Will can be used as a starting point for the rest of your Estate Plan, clearly stating your intentions and supporting the rest of the documents that you will want your attorney to draft for you.

How much does a Will cost?

The Law Office of Gregory P. Sheehan maintains competitive pricing based on market standards.

After consulting with our office, our clients are usually likely to go beyond just a Will in favor of more comprehensive planning at a great price.  If all you want is a Will and want to pass on any of the other important Estate planning benefits, we charge $400 for a single Will and $500 for a couple.

Can’t I just use a do-it-yourself Will?

I haven’t seen a do-it-yourself Will that applies to everybody’s situation, or else I’d be using it in my practice and I could pass the savings on to my clients.  The important part about talking to an Attorney about this decision is not simply using a Will, but learning about other methods of protection that you deserve.  If you decide after all that a Will is the only tool you wish to use, you will walk away from your Attorney’s office with a clear understanding of what you are doing when you sign your Will, and you will have a document that is tailor-made to fit your needs.