Contracts are powerful tools to structure our business and personal lives. They create legally recognized promises. If done correctly, a court will enforce those promises.
The problem, of course, is paying a lawyer $350-500 per hour to draft a simple agreements. That adds up quickly. Before you know it, your basic contract can cost many thousand dollars.
Starting with a form contract can be a viable alternative. Its not a panacea, and certainly can’t give you the comfort that a custom-drafted and lawyer reviewed contract will. Simply put, you are trading safety for cost. Where that happy medium lies depends upon you.