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Friday, June 25, 2010

What do lawyers charge to make Wills?


In their June 2010 edition, Canadian Lawyer magazine has presented the results of a survey of law firms across Canada to find out what lawyers are charging clients to prepare their documents. While the survey covers several kinds of fees from criminal defense work to intellectual property, I'm going to focus just on the fees for Wills and Powers of Attorney (in other words I'm picking and choosing from the data). The link to the digital edition of the magazine is here, but you will need an email address to access it so I'm not sure if everyone can actually see the article.

Ontario:
fees to do a simple will range from $278 to $510
fees to do a complex will range from $704 to $2,061
fees to do a power of attorney range from $108 to $219

Western Canada:
fees to do a simple will range from $242 to $508
fees to do a complex will range from $538 to $1,520
fees to do a power of attorney range from $124 to $251

Atlantic Canada and Quebec:
fees to do a simple will range from $215 to $642
fees to do a complex will range from $662 to $2,100
fees to do a power of attorney range from $137 to $338

It's also interesting to compare the average cost nationally by the size of the law firm:
simple will by a firm having 1-4 lawyers: average $294
simple will by a firm having 5-25 lawyers: average $413
simple will by a firm having 26+ lawyers: average $489

complex will by a firm having 1-4 lawyers: average $751
complex will by a firm having 5-25 lawyers: average $1,147
complex will by a firm having 26+ lawyers: average $1,520

I still sometimes hear people, who apparently have sticker shock when they are quoted a price by a lawyer, saying things like "I can get a Will from the lawyer down the street for $100". Seriously, the days of $100 Wills are over. You might as well do it yourself as pay the person who charges $100. The real value of a lawyer when preparing your Will is the advice that you get on trusts, taxes and executorship, and the peace of mind that your family is protected.

3 comments:

  1. Thanks for sharing this! I hope I'll find a lawyer who does not ask that expensive for a last will. http://ndvlaw.com/
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    Replies
    1. I know that cost is a factor for most people. Realistically, we don't all have surplus money lying around. However, I really urge people to try to choose a lawyer on a basis other than just what they charge. Try to find someone with whom you're comfortable, so that you won't hesitate to ask questions. If at all possible, get someone with experience so that your family won't be hit with the shock of a mistake in the will after you're gone.

      Lynne

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  2. I would be supportive on all your articles and blogs as a result of they are simply up to the mark.Joseph Tacopina

    ReplyDelete

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