How Much Does a Will Cost in Missouri?
Creating a will is an essential step in estate planning, ensuring that your assets are distributed according to your wishes after your passing. However, the cost of creating a will can vary depending on several factors, including the complexity of your estate and the type of legal assistance you choose. This article will explore the average costs associated with creating a will in Missouri and provide answers to some frequently asked questions.
Average Costs of Creating a Will in Missouri
The cost of creating a will in Missouri can vary significantly depending on various factors, including the complexity of your estate plan and the type of legal assistance you seek. Generally, there are three common options when it comes to creating a will: DIY wills, online wills, and hiring an attorney.
1. DIY Wills:
Creating a will on your own is the most cost-effective option, as it involves minimal expenses. With DIY wills, you can use templates or software to draft your will. These templates typically range from free to around $100. However, it is important to note that DIY wills may not be suitable for complex estates or those with specific legal requirements.
2. Online Wills:
Online wills are becoming increasingly popular due to their convenience and affordability. Many online platforms offer customizable will templates that you can fill out yourself. The cost of online wills in Missouri typically ranges from $20 to $100, depending on the platform and additional features you may choose.
3. Hiring an Attorney:
If your estate is complex, or if you have specific legal concerns, it is advisable to hire an attorney to create your will. The cost of hiring an attorney to draft a will can vary depending on factors such as the attorney’s experience, your location in Missouri, and the complexity of your estate. On average, expect to pay between $300 and $1,500 for attorney-assisted will creation.
Frequently Asked Questions:
1. Why should I create a will in Missouri?
Creating a will allows you to determine how your assets will be distributed after your passing, providing peace of mind and ensuring that your wishes are carried out. Without a will, your estate will be subject to Missouri’s intestate laws, which may distribute your assets differently than you would prefer.
2. Can I create a handwritten will in Missouri?
Missouri recognizes holographic wills, which are handwritten wills created without the presence of witnesses. However, holographic wills can lead to complications and may not be valid if they do not meet certain legal requirements. It is advisable to consult an attorney to ensure your will is legally binding and properly executed.
3. Can I make changes to my will after it is created?
Yes, you can make changes to your will after it is created. These changes can be made through a codicil, which is a document that amends specific provisions of your will. Alternatively, you can create an entirely new will that revokes the previous one. It is important to update your will whenever there are significant changes in your life, such as marriage, divorce, or the birth of a child.
4. Do I need an attorney to create a will in Missouri?
While it is not required to have an attorney to create a will in Missouri, seeking legal assistance can ensure that your will is valid and properly executed. Attorneys can provide guidance on complex estate planning matters, help minimize potential disputes, and ensure your will meets all legal requirements.
In conclusion, the cost of creating a will in Missouri can vary depending on the complexity of your estate and the type of legal assistance you choose. DIY wills and online wills are more affordable options, while hiring an attorney can provide expertise and guidance for complex estates. Regardless of the method chosen, creating a will is an important step in estate planning to ensure your assets are distributed according to your wishes after your passing.