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:

  1. Dollars and cents
  2. The costs of dying without a Will
  3. 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.

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Cost Table: using a Lawyer Vs using Will HQ

Traditional
Lawyer/Solicitor
WillHQ.com Others
Free Templates
For Australia & NZ
Completed Online
Update Easily (Online) $300 – $1000 $12pa
Secure Online Storage
Cost of Writing $600 – $3000 $124 $0 – $1000
No Hidden Fees

The Costs of Dying Without Making A Will

Secondly, however, the costs of dying without a Will go way beyond the dollars and cents involved. When someone dies, his or her family and loved ones will almost always be thrown out of their routines as they mourn, grieve, and simply organise the logistics of funeral and burial. To find out that the deceased’s accounts might be frozen by the bank and that funds might not be immediately available to pay for essentials, or that they’re told by the bank that the mortgage is no longer being automatically paid, would lead to stress and distress at the very least. There is no question that banks are helpful in these situations, and that they have the resources and knowledge to guide families through the process, but nobody needs to deal with banks and lawyers in order to feel secure about living in the family home while they’re going through such sad times.

Buying A Template Will

Thirdly, and finally, there are cheap solutions which should not be ignored but which have both costs and vulnerabilities. It is possible to buy a blank hardcopy Will template from Australia Post or to download the equivalent from the internet at a low cost. However, both types suffer from the limitations that were central to the creation of willHQ.com. They are still subject to the possibility of fraud, confusion or loss. There are no automatic reminders to review and update the Will, nor communication functions to inform executors and beneficiaries of the existence and location of the Will. They might be the classic band-aid solution if a Will needs to made immediately or urgently, but they have no proper Will-management functions.

Traditional Costs of Making A Will

In summary, the traditional cost of a Will is in the range $500 to $2,500 depending on whether it’s one or two people involved, what services are required, and whether the law firm involved is small and less expensive, or larger and costly. The ideal practical long term solution is willHQ.com, which simplifies the making AND management of the Will at a fraction of this cost. Just $124. We can help you create, write and manage your will Online in one simple web app. 

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