How To Make a Valid Will and Trust Without Overspending

Planning your estate might not be the most enjoyable thing, but it’s a critical step in your life. Having a will or trust in place when you die ensures your estate will pass along to your beneficiaries the way you had envisioned. It will also help your loved ones avoid any additional stress during an already difficult time.

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Unfortunately, estate planning has traditionally been relatively expensive. Luckily, today, there are ways to make a will or trust without it costing a fortune. Keep reading as we explore how to make a valid will and trust for cheap.

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Choose To Bypass a Lawyer

In the past, creating a will or trust required you to use an attorney specializing in estate planning. Since there’s a lot that goes into each product, and a lawyer would be charging you an hourly rate, the cost could become significant. On average, you could expect to pay $700 or more to have a will created and anywhere from $2,000 to $4,000 for a trust.

Over the past decade, several online services have become available that allow you to put together an estate plan without the need for a high-priced attorney. These do-it-yourself platforms have everything you need to create a will or trust on your own at a lower price point. For example, Trust & Will prices start at $199 for wills and $499 for trusts. Nolo’s Willmaker costs $109 for wills and $149 for trusts.

However, it’s important to be somewhat cautious when going this route. Yes, the cost will be much less, but some services will use a standard template for each product type. This makes the documents less detailed, leaving room for errors. An exception would be Trust & Will. They offer state-specific documents, meaning the requirements needed for things to be valid in your home state should be covered.

Many of these online services also offer the opportunity to consult with an attorney for an additional cost. While this makes it slightly more expensive, it will still be less than having an attorney handle the whole process, and you’ll have peace of mind that everything is done right.

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Use an Estate Attorney but Trim Costs

Another option would be to still use an estate attorney but do some legwork yourself. Websites like LegalZoom and Rocket Lawyer have templates available so you can fill out the documents on your own. Then, you can use an attorney to review and make any necessary changes to make sure they’re valid and enforceable in court.

Another option would be to bring some friends or family members in on the process. If they don’t have a will or trust set up, spend a few hours over a weekend writing up the documents needed. Once that’s done, set up a meeting with an estate attorney, and each person can ask any questions they might have. By splitting the attorney fees, you’ll be able to reduce your out-of-pocket costs.

This article originally appeared on GOBankingRates.com : How To Make a Valid Will and Trust Without Overspending