Don't let death steal your wishes: Write a will and take control

Published: Sunday, March 29, 2009

NEW YORK - Nothing's guaranteed. It's the jolt that comes with any high-profile death that leaves you pondering your own mortality and how your family would get by without you.

One way to ensure your loved ones a measure of peace after you're gone is to draw up a will. It's a small task that can prevent a sea of heartache, yet many put it off because of the unpleasant associations involved. You might also be unsure about where to begin, and whether newer options such as online or video wills would suit your needs.

Even if you've voiced your wishes to your family, the bottom line is that a proper will bestows a certain authority on your decisions.

"It gives you some control from the grave," said Vincent Barbera, a certified financial planner with TGS Financial Advisors in Radnor, Pa. "The last thing you want is your family to argue over what you wanted."

Without a will, your assets are distributed according to your state's laws. That typically means they'd be split between your spouse and children. If you're single, they'd most likely go to your parents or closest relative.

To help you get started, here's what you need to know about hiring an attorney and drafting your own will.

Estate attoneys

Hiring an attorney is probably the best approach if want to be sure you're making the most of tax and property laws.

Estate and trust attorneys should also be able to raise financial repercussions you didn't consider. Getting a lawyer's counsel is an especially good idea if you have a sizable estate or anticipate your wishes might trigger a family spat.

Even if your assets are very modest, you might simply get peace of mind knowing a professional is behind the wheel.

"A lot of people come into the office saying they need a simple will. Then they start going over their assets and realize it's not as simple as they thought," said Alan Rothschild, an attorney specializing in estate planning at Hatcher, Stubbs, Land, Hollis & Rothschild LLP in Columbus, Ga.

Fees for drawing up a basic will can range between $200 to $800, but could go much higher depending on the complexity of your situation. Your attorney should be able to quote you an estimate after a brief consultation.

Lawyers traditionally work on an hourly basis, but more are increasingly charging flat fees for projects such as wills, said Rothschild, who is also vice chair of the real property, trust and estate law division at the American Bar Association.

Either way, he said it's worth paying the fee if you want to be sure you're doing everything right.

For instance, you might think a video will add a personal touch, but an attorney would likely advise against it, said Steve Akers, managing director of Bessemer Trust Co. a wealth management firm in New York City.

There's nothing wrong with recording a personal message for loved ones, of course. But Akers suggests keeping such messages separate from your will.

Online wills

An increasingly popular option is online wills., which helps users create business documents, says the number of wills it generated doubled to 100,000 in the past three years.

Basic wills at and cost about $70.

Users typically fill out an online questionnaire that takes about 15 minutes to a half hour. A will is generated based on your answers and can either be printed out or mailed to you.

The questionnaire at was designed to cover a broad range of issues that arise when writing basic wills, said Mary Randolph, a spokeswoman for the site based in Berkeley, Calif.

Still, the drawback of online will sites is that they don't offer personalized advice. So you're out of luck if you have complicated wishes, such as a conditional or staggered inheritance for your children.

The upside, of course, is that online wills are relatively cheap and quick. lets users print and save a copy of the generated will on the spot. At, users are mailed a single hard copy of their will and must pay extra for an e-mail copy.

Both sites give instructions on how many witnesses need to sign the will depending on the state where you live. They also offer other important documents you want to consider when drawing up a will.

Do it yourself

The most basic option is a holographic will, which is written, signed and dated entirely by hand. No witnesses are needed for it to hold up in a court of law. The specific rules vary depending on the state where you live, however, and some states do not honor them.

If you type the will, it needs to be signed by two or three witnesses depending on the state where you live. In some states, witnesses cannot be beneficiaries named in the will, while other states simply discourage it.

One reason attorneys and financial planners advise against this do-it-yourself approach is that it's easy to forget even basic details every will should include.

Regardless of which path you choose, remember that a will is only helpful if your survivors know where to find it. So if you're not using a lawyer, keep a copy in a secure place your family knows about.

To be safe, you might also want to give copies to the loved ones you name in the will.