Estate planning legal services are organized into four primary tiers to cater to the diverse needs of individuals, families, and their unique financial situations. Each tier addresses a different segment of the population, ensuring that everyone, from those with basic needs to the ultra-wealthy with complex holdings, receives appropriate guidance and protection.

This is the first of a two-part blog post detailing the differences, beginning with the two simplest types of services for low- and moderate-income individuals and families.

Tier 1. Basic Online Providers

Limited Assets, Little Complexity

The first tier includes templated or digital solutions, which are well-suited for individuals and families with limited assets and simple family dynamics.

These services are designed to provide a quick, cost-effective option for those who may not have the financial means or the need for extensive legal advice. Online platforms like Rocket Lawyer, Nolo, and Quicken offer DIY forms and software that guide users through the process of creating basic estate planning documents such as wills, powers of attorney, and healthcare directives.

Pros and Cons:

While these online solutions offer the advantage of being accessible and affordable, they come with significant limitations. One major drawback is the lack of attorney review, which means there is no professional oversight to ensure that the documents are correctly completed and legally sound.

Additionally, these services do not provide personalized guidance, which can be critical for addressing specific family situations or unique asset distributions. The principle of “caveat emptor” (buyer beware) is highly applicable here, as there can be potential gaps in coverage and protection that might leave users exposed to unforeseen legal complications. Thus, while these platforms may suffice for quick and inexpensive needs, users must exercise caution and understand the potential risks involved.

Tier 2. Tailored Legal Services

Good for Budget-Conscious Middle-Class Consumers

The second tier represents a step up in sophistication, where clients work directly with estate planning lawyers to customize their plans to a certain degree.

 This level of service is good for budget-conscious middle-class consumers who require more than what basic online platforms can offer but still need to keep costs manageable. At this level, clients receive some personalized attention and mid-level quality work, ensuring that their estate plans are more tailored to their specific needs and circumstances.

Post-COVID Efficiency:

In the post-COVID era, many of these services are efficiently delivered through virtual teleconferencing platforms like Zoom. This approach has significantly minimized costs associated with traditional in-person consultations, such as travel and office overhead, while maintaining a high level of legal expertise and personalized service.

Clients can now meet with their attorneys from the comfort of their homes, discuss their estate planning needs, and receive professional advice without compromising too much on quality.

Pros and Cons:

The primary benefit of this tier is the balance between cost and personalized service. Clients receive more tailored solutions than what online platforms can provide, but at a fraction of the cost of high-end estate planning services.

However, the customization at this level may still be somewhat limited, and more complex estate planning needs might not be fully addressed. This tier is best suited for those with moderate assets and relatively straightforward family dynamics.

Next, in Part Two: Sophisticated estate planning services for more affluent individuals and families.