Similar situation (married with a two year old).
We got our wills done last year and thought it would be simple. NOPE.
I thought I would be helpful and downloaded a will template off the Internet and filled it in, then sent it to our lawyer to review. She totally ripped it apart!
The lawyer asked us a Bunch of questions, like, what happens if one of you die? Surviving spouse gets the assets.
What if both of you die? Kid gets the assets.
What if one of you die, and the other gets remarried and then they have a second kid? Because in that case, the surviving spouse gets all the assets, and if the surviving spouse then dies, the step-spouse gets all the assets and your kid is left with nothing. When step-spouse dies, second kid (kid of the step-spouse and surviving spouse) gets all the assets.
What if one spouse has a kid out of wedlock? Does that kid get any assets when the cheating spouse dies?
And then there's also questions about who will take care of your kid if you both die. Typically you have to name three people in succession (basically, if the first person can't/won't do it, it goes to the second, etc.). And how will they access money to take care of your kid (assuming they can access your insurance policy)?
Anyway, it got complicated really quickly.
We also got Power of Attorneys done at the same time.
All in all, it cost us around $300. For a lawyer who does this day in and day out, it's simple and pretty standard because they know what questions to ask, but for us normal people it is anything but simple. My take is that it was money well spent to ensure that our wills hold up in a court of law and that my kid will be well taken care of and won't be taken advantage of by unscrupulous adults.