Any experience with Hyatt Legal Plans?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post Reply
Topic Author
investor4life
Posts: 241
Joined: Fri Oct 08, 2010 9:45 am

Any experience with Hyatt Legal Plans?

Post by investor4life »

DW has the opportunity to sign up for "Hyatt Legal Plans" during Open Enrollment this month. HLP is a group legal plan, meaning that for a flat monthly fee of about $17 we have access to legal consultation for a wide range of matters (Estate Planning, Real Estate, Traffic, Family Law, Doc. prep., Civil lawsuits, etc. etc.) All of these are covered at no additional charge, which seems too good to be true. I've read the fine print and there are no red flags that pop up. The way I see it, I can recoup my $200 annual cost with just estate planning help.

Does anyone else have any experience (good/bad) with HLP? The link is http://www.legalplans.com, BTW.

Thanks!
skepticalobserver
Posts: 1094
Joined: Tue Jul 29, 2014 11:29 am

Re: Any experience with Hyatt Legal Plans?

Post by skepticalobserver »

I can't speak to the Hyatt plan, but from my experience with "prepaid" legal plans they are pitched to the provider (attorney) as loss leaders. The attorney gives nominal assistance with the hope of signing up a personal injury claim or other real money matters.

Legal representation in civil and criminal cases is expensive. The premium for a prepaid plan will cover, at most, a smile.

Attorneys who sign up are grappling (new verb) a dry bed.
niceguy7376
Posts: 2770
Joined: Wed Jul 10, 2013 2:59 pm
Location: Metro ATL

Re: Any experience with Hyatt Legal Plans?

Post by niceguy7376 »

There were a couple of posts here in the last few days. I used their service to have a will written for our family. Pretty straight forward and easy and economical.
Topic Author
investor4life
Posts: 241
Joined: Fri Oct 08, 2010 9:45 am

Re: Any experience with Hyatt Legal Plans?

Post by investor4life »

[quote=niceguy7376]There were a couple of posts here in the last few days. I used their service to have a will written for our family. Pretty straight forward and easy and economical.[/quote]

Thanks! I should have searched the BH site before posting...
skepticalobserver
Posts: 1094
Joined: Tue Jul 29, 2014 11:29 am

Re: Any experience with Hyatt Legal Plans?

Post by skepticalobserver »

Niceguy7376:

Not to diminish the value of your experience, a simple will is not what most people have in mind when they're evaluating a plan. Prepaid legal services are sold as insurance, not a boilerplate operation. By the way, did the attorney write himself in as executor (don't laugh)?

Prepaid plans get you in the door and tee you up for fee paying services. Panel attorneys get next to nothing (if anything) from the plan. Follow the money and don't waste yours.

Your auto policy includes a legit prepaid legal plan.The premiums pay for defense counsel. If you may be headed to the pokey and qualify for a public defender, that's prepaid services funded by taxes. Otherwise no free lunch (except for the peanut butter sandwiches doled out in the lock-up).
jridger2011
Posts: 458
Joined: Sun Feb 06, 2011 4:17 pm

Re: Any experience with Hyatt Legal Plans?

Post by jridger2011 »

Used it for a real estate closing, it went just fine.
skepticalobserver
Posts: 1094
Joined: Tue Jul 29, 2014 11:29 am

Re: Any experience with Hyatt Legal Plans?

Post by skepticalobserver »

jridger2011:

Seriously, is that what you signed up for? Nobody is making the monthly nut on a closing or will.
seamonkey
Posts: 194
Joined: Fri Oct 19, 2012 8:55 pm

Re: Any experience with Hyatt Legal Plans?

Post by seamonkey »

I've had a great experience with it, actually.

2 home purchases, 2 refinances, 1 home sale, and estate planning including trusts have all been covered with no additional out of pocket expenses. The service has been excellent with the chosen attorneys, who have had 5-10+ years experience. They don't make a whole lot from the legal plan, but it helps them pay the bills and they have weathered tough economic times because of their association with the legal plan. So it's generally favorable income security for the attorneys as well, which is the incentive for them to provide a satisfactory service.

Also, there's an option to gift a temporary (2 year) membership to the parents and parent-in-laws. We did both and it helped both sets establish estate planning documents.

This has saved our family a few thousand over the years. Nothing that I personally couldn't have self-insured for, but it's been a huge savings nonetheless.
skepticalobserver
Posts: 1094
Joined: Tue Jul 29, 2014 11:29 am

Re: Any experience with Hyatt Legal Plans?

Post by skepticalobserver »

Thank you Joel Hyatt!

If you think any attorney is weathering tough times or otherwise as a panel member you do not understand the economics of law practice. Also, not to diminish the value of YOUR experience, this sounds like a paid testimonial.

Gee, I'd like to hear from a few bar members. How many are up "to doing the work and not get paid?" (other than pro bono)
niceguy7376
Posts: 2770
Joined: Wed Jul 10, 2013 2:59 pm
Location: Metro ATL

Re: Any experience with Hyatt Legal Plans?

Post by niceguy7376 »

skepticalobserver wrote:Niceguy7376:

Not to diminish the value of your experience, a simple will is not what most people have in mind when they're evaluating a plan. Prepaid legal services are sold as insurance, not a boilerplate operation. By the way, did the attorney write himself in as executor (don't laugh)?
I dont know about your opinion but I took this plan for one year to have our simple will prepared. He is not the executor of the will. They never approached us for any other services to sell. We feel we got the value from the plan.

I dont understand why you need to make nasty comments on others that utilized the services.
seamonkey
Posts: 194
Joined: Fri Oct 19, 2012 8:55 pm

Re: Any experience with Hyatt Legal Plans?

Post by seamonkey »

So I just spoke with the parents-- they were interested in more complicated estate planning than the "parent plan" covered, so they had out of pocket expenses. The other set of parents did not have complicated estate planning and had no additional out of pocket expenses.

I appreciate the critique of my post, though I don't appreciate the tone. I've worked with 3 different attorneys in the plan over the years and my experience has been similar with each one. I can only quote myself and say that the covered services were nothing that I could not have self-insured for. A legal plan, therefore, is not necessary, but if used effectively, can save you money, and it has saved our family a few thousand dollars.
User avatar
Cal Aggie
Posts: 54
Joined: Sat Aug 23, 2014 9:27 am

Re: Any experience with Hyatt Legal Plans?

Post by Cal Aggie »

I question whether I should get involved in this discussion, but ...

What you pay for legal services is generally an indication of the value of the services you are likely to receive. An attorney charging $150/hour is not going to have the same experience, qualifications, expertise, etc. as an attorney who charges $300/hour. People in the legal industry understand this issue, while many legal consumers do not. In other words, you actually get what you pay for. Ignore this reality at your own risk.

An attorney who is panel counsel for an insurance plan like the one discussed in this thread is either someone who is starting out or someone who has a marginal practice. However, not every situation demands the same expertise and even a new attorney should be able to assist with a simple will, handle a simple real estate closing, advise someone in an auto accident case, etc.
What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience? Adam Smith
mikep
Posts: 3723
Joined: Wed Apr 22, 2009 9:27 pm

Re: Any experience with Hyatt Legal Plans?

Post by mikep »

I used this plan for getting a revocable trust done. Our attorney normally charged $2500.. our price just the plan fee. Great for that and our lawyer was pretty good.

Outside estate planning I don't see much value though. Most people get it for the year they want to setup the trust then drop it the next year.
Carson
Posts: 696
Joined: Fri May 09, 2014 3:26 pm

Re: Any experience with Hyatt Legal Plans?

Post by Carson »

Yes, we used Hyatt legal plan through my work last year to set up guardianship, will, trust for our family and it was a great value. I liked the lawyers quite alright and they were happy to take the plan. They never attempted to sell us more services.
30-something personal finance enthusiast, just get getting started on this whole portfolio thing.
jackholloway
Posts: 984
Joined: Mon Jul 08, 2013 3:45 pm

Re: Any experience with Hyatt Legal Plans?

Post by jackholloway »

Hyatt worked well enough for our will and trust. I spot checked a few things that sounded dodgy, and they were correct, if not explained well.

Would an estate law expert with experience, like, say, bsteiner, have done a better job meeting unusual estate needs? Almost certainly, if for a higher cost, based on what he has described on BH as a typical will. i do not have unusual needs yet, but if I end up with a few good years, or complexity on the horizon, I would want a more tuned will and trust.
jstrazzere
Posts: 260
Joined: Tue Feb 18, 2014 4:19 pm

Re: Any experience with Hyatt Legal Plans?

Post by jstrazzere »

investor4life wrote:HLP is a group legal plan, meaning that for a flat monthly fee of about $17 we have access to legal consultation for a wide range of matters (Estate Planning, Real Estate, Traffic, Family Law, Doc. prep., Civil lawsuits, etc. etc.) All of these are covered at no additional charge, which seems too good to be true. I've read the fine print and there are no red flags that pop up. The way I see it, I can recoup my $200 annual cost with just estate planning help.
Sign up for 1 year, then stuff that year full of getting as much done as possible - estate planning, will prep/update, etc, etc.
Then decline next year. You likely won't need to spend the $200 again.
mw1739
Posts: 714
Joined: Mon Mar 21, 2011 5:44 pm

Re: Any experience with Hyatt Legal Plans?

Post by mw1739 »

This thread (and the need to update my own estate planning) got me to check with my employer to see if we offer this benefit. Apparantly estate planning (will, healthcare directive and POA) is covered at no cost by my employer. Anything extra (trusts etc.) is on me, or I can apply the benefit amount to a lawyer of my choosing. Thanks for prompting me to find this savings!
AllMostThere
Posts: 142
Joined: Sat Dec 31, 2016 2:04 pm

Re: Any experience with Hyatt Legal Plans?

Post by AllMostThere »

My employer just started offering this service. Five years later after this original post, I'm curious if forum members have any additional good or bad experience with this service. Worth it for those that need Deed prep, Will's, POA, and other Estate documents prepared?
student
Posts: 5159
Joined: Fri Apr 03, 2015 6:58 am

Re: Any experience with Hyatt Legal Plans?

Post by student »

AllMostThere wrote: Tue Nov 19, 2019 5:41 am My employer just started offering this service. Five years later after this original post, I'm curious if forum members have any additional good or bad experience with this service. Worth it for those that need Deed prep, Will's, POA, and other Estate documents prepared?
This type of simple enough documents should be fine. My friends and I have used them for trust documents.
mervinj7
Posts: 1537
Joined: Thu Mar 27, 2014 3:10 pm

Re: Any experience with Hyatt Legal Plans?

Post by mervinj7 »

AllMostThere wrote: Tue Nov 19, 2019 5:41 am My employer just started offering this service. Five years later after this original post, I'm curious if forum members have any additional good or bad experience with this service. Worth it for those that need Deed prep, Will's, POA, and other Estate documents prepared?
Used them last year to do wills, living trust, POA, etc. Discount was $3k off the "rack rate". We had pay for the notary and county recording fees out of pocket. Overall, a great experience and we would recommended the attorney to our friends.
User avatar
RickBoglehead
Posts: 5608
Joined: Wed Feb 14, 2018 9:10 am
Location: In a house

Re: Any experience with Hyatt Legal Plans?

Post by RickBoglehead »

Using Hyatt is no different from not using Hyatt, except for the cost. Some plans give you certain things for no charge (besides the plan charge), other plans give you a discount on certain things.

We used Hyatt on an estate - was a "free benefit" of having a MetLife insurance policy (MetLife owns Hyatt Legal Services).

We picked a lawyer within their plan, and all the estate work (not that there was much) was free, including a deed on a home that had to be transferred. We only paid for court costs.

I'd love to have access to this going into retirement.
Avid user of forums on variety of interests-financial, home brewing, F-150, PHEV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.
kacang
Posts: 199
Joined: Fri Apr 20, 2018 7:43 am
Location: CA

Re: Any experience with Hyatt Legal Plans?

Post by kacang »

Used them several years ago to set up our trusts, wills, POA. Used them again this year, to update these documents due to life changes. Also used the plan to seek legal advice on several issues; for each of these, there was no pressure to use the attorney's services though they did offer help if we need it. Maybe it's where we live, but outside of the plan, their services weren't cheap ($400-500 per hour). So far what we needed were all covered by our plan, aside from notary/court fees. We are pleased with the plan and for the low price, will continue to enrol in it while we have access to it.
mancich
Posts: 884
Joined: Fri Sep 05, 2014 2:05 pm

Re: Any experience with Hyatt Legal Plans?

Post by mancich »

We have used them a few times to write and then later update wills. Also used it for a speeding ticket. I pay $125/year. I think it is worth it.
shorty313
Posts: 169
Joined: Mon May 16, 2016 8:43 am

Re: Any experience with Hyatt Legal Plans?

Post by shorty313 »

I just signed up in open enrollment for next year as we want to re do estate documents. A trusted friend is in our network. I expect things will go smoothly at a fraction of the regular cost of these things. It costs me roughly $240 for the year.
Carson
Posts: 696
Joined: Fri May 09, 2014 3:26 pm

Re: Any experience with Hyatt Legal Plans?

Post by Carson »

mervinj7 wrote: Tue Nov 19, 2019 10:10 am Used them last year to do wills, living trust, POA, etc. Discount was $3k off the "rack rate". We had pay for the notary and county recording fees out of pocket. Overall, a great experience and we would recommended the attorney to our friends.
Yes this - we signed up one year to setup our modest family estate, paying only the recording fees. I don't even remember if a copayment was necessary. Totally thrilled with how the process was handled and the documentation that was obtained. I unsigned from it the following year.
30-something personal finance enthusiast, just get getting started on this whole portfolio thing.
bogledogle
Posts: 295
Joined: Wed May 07, 2014 4:34 pm

Re: Any experience with Hyatt Legal Plans?

Post by bogledogle »

Used them for traffic tickets and looking over lease agreements. Worth the money since my employer subsidizes it to $10 a paycheck.
Post Reply