How Much Does A Will Cost In Australia?
Most people understand that cost does not equal price, so let’s unpack what it “costs” to make a Will in Australia. We can classify these costs in three ways:
- Dollars and cents
- The costs of dying without a Will
- Cost comparison of the various Will solutions available.
The first item is easy to understand. You can go to a lawyer who will charge for time taken to prepare the Will, and for a simple one-person document this can set you back $500-1,000 depending on the lawyer’s fees and the time involved.
However, if a couple want complementary or reciprocal Wills that figure will increase to roughly $800-1,500. Adding on any additional products (for example, a Power of Guardianship to provide for children under the age of 18) adds more dollars onto the total. In summary, for a conventional family that wants to make Wills for both parents it probably costs the guts of a thousand dollars, and given that there are 30 listed factors that trigger the making or the revision of a Will on our website https://willhq.com the likelihood is that an update or new Will may be required every five years or so on average. Ignoring inflation, that means the average couple who make a Will in their mid-30s and revise it 10 times before it is actually needed, could spend between $10,000 and $20,000 jointly over their lifetimes.