Kiplinger's Personal Finance Magazine has an interesting article that's coming out in the March 2010 issue, about do-it-yourself estate planning. It was written by Jane Bennett Clark, Senior Associate Editor:
You’ve been dragging your feet for ages on writing a will and drawing up other estate-planning documents. Now, to avoid the hassle and expense of hiring a lawyer, you’re considering using online forms to get the job done. Companies such as Nolo, LegalZoom and Rocket Lawyer allow you to do just that. Not only do they provide do-it-yourself estate-planning documents, but they also offer guidance on filling them out and general information on estate-planning issues.
The cost for such off-the-rack estate planning? As little as $50 for a simple will to $220 or so for a package that includes a will and a living trust. That’s cheap compared with the $300 a lawyer might charge for a simple will or the $1,000 or more that a comprehensive estate plan might run you. Still, you get what you pay for, says Danielle Mayoras, an estate-planning attorney and coauthor, with Andrew Mayoras, of Trial & Heirs(Wise Circle; $20 at Amazon.com). Although the products themselves may be sound, one size doesn’t fit all, says Mayoras. “They don’t address as many what-ifs as if you had an attorney with you.”