I hear all the time about people who want to save a bit of money on will preparation, so they do their will themselves, or get a kit, or do an online program. The problem is that, while they do save money on the drafting, they end up costing their estate far more in the end because of the almost inevitable difficulties with administration on their deaths.
Take, for example, Sandra Hatton. Ms. Hatton, a devout Christian in Australia, was dying of ovarian cancer. She wanted to save money on her will, so she used a kit, and then changed it through handwritten notes four times in the last weeks and days of her life. Her instructions were unclear, bequests were added and removed and added again, some beneficiaries didn’t exist, and overall, it was a mess. It’s estimated that her estate will waste upwards of $20,000.00 dealing with the confusion, so that she could save a few hundred.
Yes, having a lawyer draft a will is going to cost you more than doing it yourself. But ultimately, it will almost certainly save you – or your loved ones – money.
You can read all about Sandra Hatton here.
