Truth: not everyone needs an lawyer to help them write a will.
How do you know if you should hire an estate planning attorney?
The American Bar Association recommends hiring an attorney if any of the following circumstances are true for you:
1. Complications with previous marriages, divorce, or blended families.
2. You, your spouse, or children have international citizenship.
3. You own or have interest in property in another state.
4. Your assets exceed a certain amount (this varies state-to-state and changes each year. In Washington, right now, it's $2.129 million, and that includes real estate and life insurance. Hint: if you own a home in King County and have life insurance, your estate will probably be higher than $2.129 million).
5. You or your spouse are getting (re)married and could have complications with trusts, property ownership, or guardianship for your minor children.
None of those apply to you? Great! You probably don't need an attorney to help you write your will.
So what are the common pitfalls that people make when writing their own wills?
1. Not doing one at all. (Hint: you're probably already here!)
2. Not completing the process.
3. Doing one incorrectly, which can result in the will not being legally binding.
4. Leaving stuff out. It's amazing how often people forget about pets, businesses, or *how* to split assets among children.
5. How and when assets and money are given. Some financial planners recommend spacing out payments instead of lump sums.
6. Not updating your will when you have kids, remarry, acquire new assets, or have other life changes.
If you're serious about writing a will yourself, and none of those situations above apply to you, I highly recommend GYST. It is an informative site with links to free templates and a lot of well-researched state-specific information on wills, powers of attorney, living wills, and life insurance.
If you have more questions, let me know.