Given the cost of legal fees these days (this is equal time for the cost of medical care thread) is the legal software available today any good?

I believe there is software that will prepare your Will, Medical Will, Power of Attorney, and other documents.

Has anyone tried them?

Has anyone had to use the doucments court?

 

The results I've seen have always had some type of error. They weren't executed correctly or they were missing some other element--which may or may not impact the validity of the document.

If your estate is taxable or your situation is complicated by family discord, it would be a very poor decision to try the software.

The health care power of attorney that YOUR state uses should be available for free--prolly on the internet. That document isn't as important as the financial power of attorney or the will. You take your chances that the financial power of attorney generated by the software will be sufficient or even accepted by 3rd parties.

In the interest of full disclosure, I'm an estate planning attorney. Basic wills and powers should not be cost prohibitive.

 

I have learned that law is typically not an exact science. Even well written documents MAY contain holes. As such, I would NOT trust off-the-shelf software for any important documents such as wills, estate plans, etc.

 

^ I have to agree...I've had my attorney draw up numerous legal docs related to powers-of-attorney, medical directives, trusts, etc. They are not simple to word, even though the concepts are pretty straightforward. And some things vary state by state, as I've discovered in handling my aunt's affairs in NC and VA. I wouldn't take the chance on leaving something important out.

 

Jim, I don't even sign my own documents for personal legal issues without having an attorney experienced in that particular field look them over first. But either I draft them first, or I read what the attorney wrote and suggest changes.

Julie mentions forms that are available and many of the state published forms are fine. But even those could be biased to some state issue that isn't in your best interest.

 

I don't use this SW and currently was not planning on it.

My will and other docs were drawn by my attorney.

I just wanted to know if anyone else has ever used this type of SW and what their experience was.

 

Same here--although I did draft my own durable power of attorney.

As far as freely available powers, I agree with LB about having to be careful. I was really referring to the health care power of attorney that can sometimes be found online. In SC, it's generally best to use the "state form." No way I would use the durable power of attorney found in (most) state statutes.

 

Some of the tax prep software out there (Turbo-tax for example) is very good, but if your requirements are even the least bit more complicated than a simple W-2 and a little bit of interest, it pays to work with a CPA. My colleagues and I find ourselves redoing and or amending a number of client prepared returns every year.

I suspect that the same is true of Legal Software.

 

Actually, if you are good at inputting records into a product like Quicken and then uploading them to Turbo Tax, you can file a pretty complete and accurate return. Even complex returns with Stock/Mutual fund sales, AMT, Carryovers, etc...

I use them and have also had a CPA (my formal education is in accounting but I don't practice) review my last 3 years and he didn't find anything to change.

BUT..... If you don't keep good records then you will have alot of trouble and Rob is right.

 

Jim

Don't forget that you also have an accounting background. That gives you an advantage.