When it comes to a will, find a way

I finally made an appointment with a lawyer to write my will after publicly scolding myself several times about my lack of an estate plan. So why did I spend a recent Sunday afternoon writing my own will using a cheap software program?

Because the idea of paying a lawyer hundreds of dollars or more to document my final wishes is hard for me to swallow. My husband and I choked, and we canceled our visit to the lawyer the week before.

It’s not that I don’t think estate planners are worth it. It’s quite the opposite. They have to deal with tax code and family dynamics, both equally difficult to understand. And no computer program or Web site will provide tailored advice about choosing guardians, coordinating beneficiaries and other discussion-worthy matters.

Yet with so many expenses to juggle — from daycare to groceries to saving for you-name-it — young families often prioritize life’s other costs over the price of planning for the unthinkable.

Lawyerly entrepreneurs have picked up on this, and a variety of do-it-yourself options are out there. Storefront legal franchise We the People in Minneapolis offers a will for $199 no matter the complexity. LegalZoom.com’s standard will package costs $69. Orders for the package have almost doubled in the past year. I used Quicken Willmaker, which can be purchased for around $40.

With a will finally in hand, you’d think I’d be relieved. Instead, I am filled with worry. Yes, I followed the software’s directions, selecting guardians and designating a trustee. But without a law degree or dozens of hours to educate myself, I had several nagging questions:

U Did I select the right trustee?

U How do I make a will official?

U What do I have to do to make sure that my will jibes with the beneficiaries named on my life insurance and my retirement plans?

U Maybe a trust would have been better?

My questions demonstrate why Liza Hanks, a California estate planning attorney and author of “The Busy Family’s Guide to Estate Planning,” is not afraid her book will put her out of business.

Writing a will is “not just filling in the blanks; it’s creating something that reflects your wishes and values,” and lawyers can help with that, she said.

She sometimes recommends self-help products to middle-class families with straightforward circumstances who are most concerned about designating a guardian for their kids. The idea is that something is better than nothing. But for families with special-needs children, net worth high enough to trigger estate taxes, or other complexities, it’s best to consult an expert.

Is my will better than nothing? I asked Minneapolis estate planning attorney Bob Kaufer to review mine, something lawyers are typically loath to do. His conclusion: Willmaker made me a serviceable will that designated my choice of guardian for my young kids and set up where my property would go.

But he would have written us a more complex will that included a trust provision and some more involved instructions for how we wished to leave money to our kids, he said. We’d have walked away with a more tailored product and “peace of mind,” he said. Clearly, my online experience failed in that regard.

So what have I learned? To put my concerns to rest, I should probably cough up the cash to hire a lawyer. But until I set money aside for that expense, the will I have now will do the trick if needed.

“That interim solution can give you a false sense of security,” warned Dorsey & Whitney estate planning attorney Melinda Greer. She says many lawyers will work with families to create a payment plan and urged me to put the ball in motion before I lose momentum.

But if you’re an average Joe with a simple situation who is not prone to worrying, a do-it-yourself option is better than nothing. And it could be plenty.

XKara McGuire writes about personal finance. Write to her at kara@startribune.com or at the Star Tribune, 425 Portland Ave., Minneapolis, MN 55488