Talking Taboos

When talking Estate Planning or really, any service, the big taboo is price. How much does it cost and why?

Take the humble Will for example. You are thinking “how difficult can it be“? Well let me break down the process. I’m not talking here about operator training and expertise or professional overheads or blah blah blah, just the process of creating a Will.

First of all, we need to know who you are, your circumstances, your family plus your potential beneficiaries and their circumstances. Then we need to explain everything to do with a Will and be sure that you understand. This includes things such as, Testamentary Trusts, Executors, what can go in a Will, what can't go in a Will, what you can gift and what you can't, the difference between wishes and directions, substitute roles, family provisions, legal obligations, challenges to a Will, rights and roles of an Executor, care of Minor children, beneficiaries and what happens if one or more doesn't survive you etc etc.

Next step is working behind the scenes to get hold of and read your life insurance policy and super statement, your real estate titles, company constitutions, trusts deeds and SMSF deeds.

Then, when all of this is collected and explained, we need your instructions. This includes about superannuation, life insurance, real estate properties, special gifts, jewellery, shares in private companies, roles in any trusts, director of any companies and how all of this should be gifted in your Will.

Once the Will is created to comply with all of the relevant rules and legislation, it maybe 20-30 pages worth if it includes testamentary trusts. We then need go through it with you, check that you understand it all, make any changes and sign it with you and one other appropriate witness.

Done well, creating a Will is a complex and time consuming process.

Would you like the exact fixed price costs for your Estate Planning?