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  1. [...] Canadian Capitalist came up with “A guide to getting your will done through a lawyer“. [...]

  2. [...] Canadian Capitalist came up with “A guide to getting your will done through a lawyer“. [...]

  3. [...] Canadian Capitalist came up with “A guide to getting your will done through a lawyer“. [...]

  4. MoneyGrubbingLawyer
    Aug 13 - 7:40 am

    $300 seems quite reasonable for a will and POA.

    Neither lawyers nor clients like to talk about fees, but don’t be afraid to call around to get an idea of prices in your area. No lawyer worth his salt will commit to a price over the phone, but you should be able to get a good ballpark figure. And as always, don’t necessarily pick the cheapest!

  5. brad
    Aug 13 - 8:32 am

    Here in Québec wills and POAs are generally handled by notaries. We used the same notary who handled the purchase of our home, and while she was expensive we felt she was worth it. She spent almost two hours with us going over everything in detail, explaining it in plain English (well actually it was all in French but you get the idea) and making sure we understood the ramifications of the choices we made. Our situation is a bit complicated because both of our families are in different countries (mine in the US, my spouse’s in France), so we have nobody in Canada who could serve as executor.

  6. Maggie's Farmboy
    Aug 13 - 8:47 am

    As strange as this might seem, many lawyers regard the drafting of wills as a “lost leader”. This is because it takes time and care to draft one correctly, and lawyers realize that even fewer clients would request the service if they had to pay the true cost. At the same time, lawyers see it as an opportunity to pick up new clients who may need them down the line for other work.

    The bottom line is that in most cases, when you engage a lawyer to do your will, you are getting a bargain.

  7. Novice
    Aug 13 - 9:55 am

    When we bought our house, we were able to use the same lawyer who did that legal work to prepare our wills and power of attorney. I agree with CC, having a lawyer prepare it was easy and quick, he sent over a list of questions and we filled them out and then got about 30 pages in return. In addition, they keep a copy of the will in their offices in case something happens to the copy we have. He did make a good suggestion, which was to include the account # and other information of any bank or retirement accounts we have with the wills, which will make it easier for family members to get access to them

  8. [...] The Quest for Four Pillars wrote: “My last will and testament” The Million Dollar Journey wrote: “Why you need a will and the basics of estate planning” The Financial Blogger wrote: “Common mistakes in a will” Thicken My Wallet wrote: “5 myths about wills” The Canadian Capitalist wrote: “Getting your wills done through your lawyer” [...]

  9. ThickenMyWallet
    Aug 13 - 3:28 pm

    Thanks for the mention. Does the $300 quote include power of attorneys?

    I gave copies of my wills to my executor and back-up executors. A good lawyer will make extra copies for distribution to the executors.

    As a practical point too- if you are younger, don’t get a really old lawyer to do your will. He/she is close to closing up shop so the executor will have to contact a law office where the lawyer has either left or passed away and they have to dig through records etc. Just adds another level of grief to the entire process.

    In bigger cities, there are family law “boutiques” who do wills, family law etc., they at least have the capabilities to store thousands of wills from various lawyers in a vault.

  10. Canadian Capitalist
    Aug 13 - 3:30 pm

    MGL: The lawyer did first ask about our situation before saying that our wills are straightforward and hence the figure he quoted. I notice that in Ottawa, many lawyers are open about their fees for simple cases.

    brad, MF, Novice: Thanks for your comments and tips. I also found this blog that talks a lot about the legal aspects of wills:

    http://rulelaw.blogspot.com/

  11. [...] Canadian Capitalist illlustrates his experience getting his will prepared by the lawyer. [...]

  12. [...] Canadian Capitalist: writes In investing, as in life, flexibility is the key and Getting your wills done through a lawyer. [...]

  13. [...] part of our group project, Canadian Capitalist says to “Get your wills done through a lawyer“. Don’t cheap out with the home will kit, the drunken post-it note on the fridge [...]

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  15. Allie
    Nov 15 - 8:36 pm

    Great post – and I liked Thickenmywallet’s post as well. The price seems very low to me too, even for a simple will. Our fee for 2 wills is $450, plus $75 for each power of attorney, and $75 for each living will.

    I sometimes drop the price for compelling clients, but most of the time I think it is fair. Half of the risk and headaches that come along with wills is the risk that a disgruntled beneficiary will challenge — so there’s no way to really tell what is or isn’t a “simple will”. Yes, it’s a piece of paper, but that piece of paper is used to distribute hundreds of thousands of dollars and coordinate the family members who are left behind.

  16. You really can never be too careful. My grandpa was in insurance, and he always advise getting life-insurance from an early age and having a will that’s updated. What do you think the appropriate age of drafting one is. though?

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