How much does a Will cost?
That depends. Don’t worry I am going to answer your question. If you don’t want to use a lawyer there are a few options. So that you can compare them I will give prices for just Wills (not Powers of Attorney or Appointments of Enduring Guardian) and for a single person.
Online Wills
There are a number of online Wills, like this one which is free, like this one which is $190 including GST, or this one which is $25.20.
There is this one, aimed at seniors that is also free, and even Dick Smith has one for $31.27.
There is a Choice article that you can read, it isn’t behind their firewall, that compares some of these options and gives you some warnings to help you to do your own Will properly.
What about Public Trustee Wills?
Public Trustee Wills used to be free in NSW, but the cost of the free Will was that the Public Trustee was appointed as the Executor and the fees that they then charge to administer your Estate can be literally five or ten times the fees that a private solicitor is allowed to charge. If you have an old Public Trustee Will please pull it out and look at it, and if they are the Executor please look at their costs and calculate how much that would be for your current asset pool.
Now that these Public Trustee Wills cost money, but that means you can choose your own Executor (which is a lot cheaper in total). A Will for a single person costs $330 including GST, or it may be free if you are retired and in receipt of an aged pension. You can find out more about Public Trustee Wills here.
If you are in a State or Territory other than NSW then you will need to look up your local Public Trustee.
Can you still do Post Office Wills?
Don’t forget that Post Offices and Australia Post are now a private thing, and it seems to be up to the individual store whether they stock a Will. There doesn’t seem to be an Australia Post branded Will kit per se, but it seems that most (or all?) Post Offices have a DIY legal will kit for sale. Most DIY Will kits are in the $30 price range.
How much does a lawyer Will cost?
Canstar published an article on this in 2020 and said that it can cost between $400 and $3,000 for ‘just a Will’, though they noted that it is difficult to get a price because it is difficult to disentangle a Will from all the advice that happens around a Will. In Penrith I actually know lawyers who are doing Wills for $300 plus GST (so the same price as the Public Trustee) and I can refer you to one of those.
Why would I use a lawyer?
I am going to quote the Choice article in response to this question.
When should you get legal advice to draft your will?
There are a lot of issues that need special attention to make sure your will is valid and your wishes will be carried out. They could include the following:
a change in marital status such as marriage, separation or divorce
balancing needs of your new partner and your children
obligations you have to stepchildren or other non-relatives who are (or claim to be) dependents
taxation of estate assets
superannuation – and making a binding benefit nomination
jointly held assets such as property
a gift you give to someone before you die
future control of a company or family trust
distribution of sentimental items
pets
There is more in that article about why you should use a lawyer for your Will, and when to use a lawyer for your Will, but rather than quote it all here I will just give you the link to read it for yourself.
How much do you charge?
If you read the Choice or Canstar article you will see there are many reasons that you shouldn’t do ‘just a Will’. I don’t do ‘just a Will’.
I have a system around sorting out all of the non-legal and #lifeadmin things that need to be taken care of, as well as the legal matters. My book is $99 including GST if you want to dip your toe in the shallow end and start there, or the price to do your Estate Plan with me is between $660 or $1,310 depending on what it is that you need.
I think I need to sort out my Estate Plan
If you think you need to sort out your whole Estate Plan, and not ‘just a Will’ then please give me a call on 0421 887 571 or send me an email at janis@novuslawgroup.com.au
If this isn’t a good time for you to be making phone calls then you could book in a time with me to call you back, it is a free 15 minute phone call and you can ask whatever you want.