The cost of a Will varies as much as the people who need them. A Will Kit – which is really just a template in a booklet might cost about $50.00. Online Wills might cost in the range of $150 – $250.00, but again are largely template driven with some AI involved. A solicitor drawn will – where the client meets the solicitor, takes instructions, considers the client’s circumstances and provides advice and then prepares a will for a relatively straight forward client might cost in the vicinity of $500 – $1,000.00. Prices beneath these levels ought raise suspicion given the obligations on the solicitor to gather information and advise. A more complicated Will for a client whose personal circumstances are more complicated might be in the vicinity of $1,500.00 – $3,000.00. Such a Will would usually involve considerations and strategy around taxation minimisation, asset protection for beneficiaries, matrimonial property risk minimisation for beneficiaries (preventing loss of inheritance to the beneficiary’s spouse for instance) and would likely establish Testamentary Trusts or other sorts of trusts – for instance a Special Disability Trust for a disabled beneficiary. Wills at this level would often be associated with a client with existing trusts, businesses and companies.
Not all law firms will charge an upfront fixed price for complicated Wills. Some law firms charge by the hour for these complicated Wills and the cost can become quite high. At SA Estate and Succession Lawyers our Wills are all created on a fixed price basis, including the most complicated of the Wills we write. A highly skilled estate planning lawyer should be able to meet with you, get an understanding of your assets and investments and associated complexities and set a fixed price up front for your Will.