The Cost of Writing Your Will With a Lawyer

What Is The Benefit of Holding a Valid Will?

Regardless of how you obtain it, there are many benefits for both you and your family of writing a valid will. It's a thoughtful effort to undertake and can generate positive, meaningful impact for years after your death. Below, we summarise these benefits. Encouraging you to rethink your estate planning as less of a hassle, and more of a powerful act of love for your family:

Planning For The Benefit of Family, Finances, and Other Assets Protection

A Will allows you to prepare your property, business and money administration to support loved ones through a future difficult time. The simple act of writing your Will can cover all the bases to protect these important people. From outlining your beneficiaries, giving instructions for power of attorney, executor and a guardian, as well as engaging in financial planning and outlining funeral instructions, obtaining your Will outlines these wishes, and grants powers to the right people to administer these when you die.

Minimise Probate Expense

Secondly, this same valid will can protect your family, children and other beneficiaries from a stressful probate process in court. Navigating the law and court in the aftermath of your death can add to the stress amid grief, so writing your will in advance represents a selfless act of love in saving them this hassle.

Peace Of Mind

When the future is uncertain, planning your estate safeguards your wishes, and provides for your family. Even if you happen to lose mental capacity, your will and associated attorney documents will protect you and your estate, both in life and in death.

Cost of Professional Legal Advice to Write Your Will

The associated cost of creating a Will with a lawyer in Australia can vary greatly depending on several factors, for example; the complexity and cost of making the document, the lawyer's experience and qualifications, and the location of the firm.

On average, the cost of writing a will with a lawyer in Australia ranges from $500 to $2,000, with lawyers or solicitors charging between $300 to $500 per hour for wills.

This price can be higher or lower depending on the specific circumstances of each case. With the size of your estate, and additional factors such as marriage, divorce or a previous spouse all impacting this final number. In calculating the potential cost, it is also important to note that any additional changes or complexities can incur mounting costs when paying per hour for this service.

Is The Legal Advice Expense Worth It?

So, writing a Will with a lawyer is expensive. But considering all the benefits a valid will brings, is peace of mind that you've got this document secured worth it? Below, we cover the benefits and downsides of using a lawyer to write your Will. Helping you reach a decision on whether to go for this traditional option, or branch out into cheaper alternatives.

Benefits of Using an Estate Planning Attorney

Expertise: Lawyers have extensive knowledge of the legal system and the laws governing inheritance, which can help ensure that your Will is legally binding and that your assets, business and property are distributed according to family members according to your wishes.

Peace of mind: Writing a Will can be a complicated and emotional process. Hiring a lawyer provides a face-to-face appointment, which can provide peace of mind in the fact that all important documents are accounted for. This can make navigating any further details on substitute executor, a legal guardian and general estate administration that bit less daunting.

Customisation: Lawyers can tailor your Will to your specific circumstances and provide customised advice based on your assets, family situation, and other factors. It's a face-to-face interaction, where you can talk through the options and make choices tailored to your circumstances and wishes.

Downsides to Using an Estate Planning Attorney

Cost: As we have discussed, the cost of writing a Will with a lawyer can be high, especially if the document is complex or requires multiple revisions to account for changes in marriage, the birth of a child or divorce, as well as changes to your estate or business.

Time: The process of writing a Will with a lawyer can take several weeks or even months, which may not be ideal for those with pressing time constraints.

Flexibility: Having to make appointments around a lawyer's schedule can conflict with your working life. Similarly, if you need to make amendments to your Will this can become tricky and expensive, given that changes cannot be made for free.

Online Wills Are a Cheaper Alternative

An alternative to writing a Will with a lawyer is to use an online Will service. Safewill offers the same legal document as obtained with a traditional lawyer, but at a more affordable rate, making it an accessible option for obtaining cheap Wills without compromising legal validity.

Benefits of Using an Online Will Service

Convenience:

Online services are typically user-friendly and accessible from any device with an internet connection, making the process quick and easy. Your Will works around your schedule, and you can easily make amendments to reflect changes in your life; for example a new beneficiary, new child, and new appointment of a guardian.

Cost-effectiveness:

An online Will can minimise the cost of using legal advice to plan your estate. Your wishes and executor will be protected by the law, but in a cost-effective way which is more suited to anyone on a budget.

Security:

Your Will is stored in a safe place online, so you can avoid the added life stress of losing this legal document, and the associated recognition on your appointment of your executor, assets distribution, and funeral wishes. It also makes it easier for your extended family, spouse, children or executor to find your Will and ease the funeral and probate process.

To Wrap Up

A Final Nudge to Obtain This Legal Document

Writing a will gives you the power to protect your family, your estate and your wishes in life and death. Hiring an estate solicitor can allow you to obtain the important documents which grant valid powers to your executor, power of attorney and appointed guardian to carry out your wishes. Minimising the stress of probate, the cost of making your Will with a lawyer, and easing the administration of your estate.

Options For Obtaining Your Will

While hiring a lawyer to write a Will offers several benefits, including expertise and peace of mind, it can also be expensive and time-consuming. Writing your Will online can provide the same peace of mind and protection in the law, whilst avoiding the need to make an appointment to start your Will, or every time you want to make a change.

Safewill Can Help

An online Will using the Safewill platform represents an easier way to obtain this legal document. Granting the same powers to your executor and protection of your assets, with the added benefits of affordability and flexibility. And, with Safewill, we even offer free changes to your will and assets distribution within the first year.

Get started on writing your will today, by giving us a call on 1800 103 310 , or via live chat now.

Frequently Asked Questions

1. What is a Will Kit, and how does it differ from other methods of creating a Will?

A DIY Will Kit is a set of legal documents and guidelines that allow individuals to draft their Will independently. Safewill's online Will service distinguishes itself from traditional Will kits by offering a user-friendly and legally accurate platform for independently drafting documents of one's own Will. The online nature ensures ease of use, secure storage, and flexibility for updates, providing a more convenient alternative to the manual process associated with traditional Will kits.

2. How should I account for all my assets when creating a Will?

Learn about the types of assets involved and what to include in your Will, ensuring comprehensive coverage. Safewill's platform guides you through accounting for various assets in your Will, ensuring thorough coverage.

3. What defines a Simple Will, and is it suitable for my estate planning needs?

Safewill offers a user-friendly platform for creating Simple Wills. Explore the characteristics of Safewill's Simple Will option and assess whether it meets your specific estate planning requirements.

4. What is an Enduring Power of Attorney vs a standard Power of Attorney?

Clarify the concept of Enduring Power and its significance in granting someone the authority to make decisions on your behalf, especially in situations involving mental incapacity. Compare it to a standard Power of Attorney.

5. How can a Family Trust benefit my estate planning and asset protection?

Explore the advantages of integrating a Family Trust into your estate planning using Safewill. Understand how Safewill's platform facilitates asset protection, streamlined wealth distribution, and financial support for family members.