PROS/CONS of using standard forms for Trusts, etc.

PROS/CONS of using standard forms for Trusts, etc…
We have a friend who is an attorney who says he will prepare our Inter Vivos Trusts, advanced medical directives (living wills) and powers of attorney for each other for me and my husband, for $1,600.00. My husband thinks we can just buy the forms at an office supply store and do them ourselves and save a lot of $. What would be the pros and cons of this and is $1,600.00 a reasonable cost?

3 thoughts on “PROS/CONS of using standard forms for Trusts, etc.

  1. Re: PROS/CONS of using standard forms for Trusts, etc…
    There is no doubt that if your goal is to save money, a form store will help you reach that goal. I agree that most forms do work for the purpose they claim. However, with any “one size fits all” purchase you do give up something. In addition, retaining an attorney to help prepare these documents should help ensure they are done right and that peace of mind has some value. The price you quote would be high for a Will, Living Will and POA. If you are getting a Trust instead of a Will this may be a bargain. I do not know how complex the trust being prepared is. No attorney can say if a Trust or Will is best for you without talking to you and your husband about your situation. Buying legal services is like buying any other service. If you do not know if a quoted price is fair, you may want a second opinion.

    Kelly Henderson
    Kelly James Henderson, P.A.
    4440 PGA Blvd., Suite 504
    Palm Beach Gardens, FL 33410

  2. Re: PROS/CONS of using standard forms for Trusts, etc…
    I would not recommend doing it yourself. In my experience, those who do it themselves never have peace of mind that it is done correctly. As far as fee, assuming your assets are not unusual and your estate is less than $2 million, $1,600 is considerably more than I charge for a standard living will package.

    Frank J. Pyle
    Probate Attorney Throughout Florida
    401 West Colonial Drive, Suite 4
    Orlando, FL 32804

  3. Re: PROS/CONS of using standard forms for Trusts, etc…
    You can buy over the counter medicines and bandages at a drugstore. Most people, myself included, still prefer to spend the money and have a doctor take care of my illnesses and wounds.

    You can save some money now and find out your errors have cost you many dollars later. Your friend gave you a reasonable fee for his efforts on preparing the instruments for you.

    Scott R. Jay, Esq.

    Scott R. Jay
    Law Offices of Scott R. Jay
    1575 Northeast 205th Street
    Miami, FL 33179-2133

Comments are closed.