Is It Worth Spending Money on a Lawyer to Write My Will?
It's a question that comes up often:
"Is it really worth spending money on a lawyer to write my Will?"
It's a fair question. There are plenty of inexpensive Will templates and online Will services available.
The bigger question is what happens if the Will doesn't work as intended.
The value of professional estate planning isn't simply having someone prepare a legal document. It's having someone look at your circumstances, identify the issues that need to be considered, explain your options, and structure your plan around what you actually want to achieve.
The value is in getting the plan right and it being documented correctly.
Is it worth paying a lawyer to write your Will?
Professional legal advice is worthwhile because a Will is only one part of an estate plan. A lawyer can identify issues you may not know to look for, including superannuation, property ownership, trusts, blended families, testamentary trusts, and potential claims against your estate.
The advice required depends on your individual circumstances and the complexity of your estate.
Start by looking at the bigger picture
Start by looking at your overall financial and family position. You might own:
your family home;
investment properties;
shares and investments;
bank accounts;
a business;
interests in a trust or company;
superannuation;
life insurance; or
other significant assets.
You also need to think about your family.
Do you have young children? A blended family? A child from a previous relationship? A beneficiary who may need additional protection? A spouse who would need ongoing financial support?
These questions can be much more important than the value of your estate on paper.
Your superannuation and life insurance also need to be considered separately. They don't necessarily pass under your Will, and the way they are owned and the beneficiary nominations you have in place can affect where they go when you die.
That's why estate planning starts with understanding your whole financial and family picture.
Your Will is only one part of your estate plan
A Will is important, but it isn't your entire estate plan. Depending on your circumstances, your plan may also need to consider:
superannuation and death benefit nominations;
life insurance;
property ownership;
family trusts and companies;
an Advance Health Directive; and
your wishes and guidance for the people caring for your children or administering your estate.
A Will can only deal with the assets and decisions that fall within its scope.
Getting the Will right while overlooking the rest of your estate plan can still leave gaps.
What are you actually paying a lawyer for?
This is where the question becomes more useful. You're not simply paying someone to fill in the blanks. You're paying for advice about how the law applies to your circumstances.
A good estate planning process should consider questions such as:
Who should inherit?
This sounds simple until you start looking at your family circumstances.
You may want everything to pass to your spouse. You may want to provide directly for your children. You may want different arrangements for different people.
If you have a blended family, for example, you may want to provide for your current partner while also protecting an inheritance for children from a previous relationship.
There isn't one answer that works for every family.
How should your children receive their inheritance?
If your children are young, you may not want them receiving a significant inheritance outright when they turn 18.
There may be better ways to manage and protect their inheritance while they are growing up and becoming financially independent.
A testamentary discretionary trust is one strategy that can be considered in appropriate circumstances. Depending on how it is structured, it can provide flexibility in how an inheritance is managed and distributed, as well as potential asset protection and tax benefits.
It isn't automatically the right answer for every family. That's where advice matters.
What happens if your spouse dies before you?
Your estate plan needs to consider more than the first death.
If you leave everything to your spouse, what happens to those assets when your spouse later dies? What happens if your spouse re-partners? What happens if your family circumstances change? What happens if your children have different needs?
These questions can significantly change the way your Will should be structured.
What happens to your superannuation?
Your superannuation doesn't automatically form part of your estate.
The rules around superannuation death benefits are different from the rules governing assets that pass under your Will. Your beneficiary nominations, the people who are eligible to receive your superannuation, and the way the benefit is paid can all affect the outcome.
This is an area where simply having a professionally drafted Will isn't enough. Your superannuation needs to be considered as part of the overall estate plan.
When can a DIY Will be risky?
A DIY Will might seem perfectly adequate when you're looking at the document itself. The problem is that the document doesn't tell you what you don't know.
For example, you may not realise that:
an asset you thought would pass under your Will doesn't;
your superannuation requires separate planning;
jointly owned property may not pass through your estate;
a trust or company asset can't simply be gifted under your Will;
your family circumstances create a risk of a future estate dispute;
your children may benefit from a trust structure rather than receiving an inheritance outright; or
the way your Will is drafted could create an unintended tax or administration outcome.
A template can give you words to put on a page. It can't necessarily tell you which questions you need to be asking.
DIY Will vs lawyer: which is right for you?
There isn't one answer for everyone. The question isn't simply whether a DIY Will can ever be legally valid.
It can.
The question is whether you understand the issues that need to be considered and whether the document achieves what you want it to achieve.
If you have young or adult children, significant assets, a blended family, business interests, trusts, superannuation, or concerns about protecting an inheritance, tailored legal advice may provide significantly more value.
How much does it cost to have a lawyer prepare a Will?
The cost of having a lawyer prepare a Will varies depending on the lawyer, the complexity of your circumstances, and the level of advice and planning involved.
A straightforward Will will generally involve less work than an estate plan involving complex family circumstances, significant assets, trusts, business interests, or testamentary trusts.
When comparing prices, look at what is included in the service rather than comparing the price of the Will alone.
Ask whether the lawyer is considering:
your family circumstances;
your assets and how they are owned;
your superannuation;
your life insurance;
potential estate planning structures;
your Enduring Power of Attorney and Advance Health Directive; and
any other issues that may affect the outcome you are trying to achieve.
A lower price can sometimes reflect a narrower service.
The cost of getting it wrong
The financial cost of estate planning is usually paid upfront. The cost of getting an estate plan wrong can be paid by your family later.
That cost might involve additional legal work, disputes between family members, unnecessary complexity in administering the estate, tax consequences, assets passing somewhere you didn't expect, or an inheritance being exposed to risks you hadn't considered.
There can also be a significant emotional cost.
Your family will already be dealing with your death or, if you've lost capacity, the circumstances that led to it. Having uncertainty around your wishes or your affairs can make an already difficult situation harder.
A well-considered estate plan can reduce uncertainty and give your family clear directions about your wishes.
Do I need a lawyer to make a Will in Queensland?
You don't have to use a lawyer to make a Will in Queensland. People can prepare their own Wills, provided the legal requirements for a valid Will are satisfied.
The bigger question is whether preparing the document yourself gives you the advice and planning you need. A lawyer can help identify issues you may not have considered and explain the different options available to you. This can make a significant difference to the outcome for your family.
Do I need a lawyer if I use an online Will?
Not necessarily. The difficulty is knowing whether the document is appropriate for your circumstances.
If you have young or adult children, a blended family, significant assets, a business, trusts, substantial superannuation, or concerns about asset protection, completing an online form may not identify all of the issues that need to be considered.
A lawyer can provide personalised advice and help you understand how the different parts of your estate plan fit together.
Is paying a lawyer always worth it?
The more you value peace of mind and the more questions there are around your family, assets, beneficiaries, or wishes, the more valuable tailored legal advice becomes.
For a young family, for example, the question usually isn't simply:
"How much does a Will cost?"
It's:
"What do I want my Will and my broader estate plan to achieve for my family?"
Once you know that, you can compare the options available to you much more meaningfully.
Estate planning is an investment in your family
The cost of preparing an estate plan is an investment made during your lifetime.
The consequences of getting the plan wrong are experienced by your family after your death, when they are already dealing with grief and the practical work of administering your estate.
Your estate plan may determine how significant assets are managed, who benefits from them, who makes decisions for your children, and how your family is supported.
The legal fees are one part of that picture.
The more important question is whether the plan you've paid for actually achieves what you want it to achieve.
A good estate plan should grow with you
Estate planning isn't something you do once and forget about.
Your circumstances can change. You might buy or sell property, have another child, separate or remarry, start a business, receive an inheritance, experience a significant change in your finances, or simply change your mind about who you want to appoint or benefit.
The law can also change.
Your estate plan should be reviewed when your circumstances change and periodically to make sure it continues to reflect your wishes and your family's needs.
The value of estate planning isn't simply in having a Will sitting in a drawer.
It's in having a plan that makes sense for you, works with the assets you own, and gives your family the best possible starting point when they need it.
Frequently Asked Questions
Is it better to use a lawyer or an online Will?
A lawyer can provide personalised advice and identify issues that a standard template may not address, particularly where there are young children, blended families, significant assets, trusts, businesses, or superannuation considerations.
How much does it cost to have a lawyer write a Will?
The cost varies depending on the lawyer, the complexity of your circumstances, and whether you are receiving advice about your broader estate plan. When comparing fees, check exactly what is included rather than comparing the price of the Will alone.
You can find our price guide under Our Services.
Does my superannuation form part of my Will?
Not automatically. Superannuation is generally dealt with separately from assets that pass under your Will. Your superannuation beneficiary nominations and the structure of your estate plan should be considered together.
Can a lawyer help me decide whether I need a testamentary trust?
Yes. A lawyer can explain whether a testamentary discretionary trust may be appropriate based on your family circumstances, assets, beneficiaries, and objectives. A testamentary trust isn't necessary or beneficial for every estate.
Should I get a lawyer to review my existing Will?
It can be worthwhile, particularly if your circumstances have changed since your Will was prepared. Changes to your relationships, children, assets, property ownership, superannuation, or financial circumstances can all affect your estate plan.
Want to learn more about estate planning?
We've created The Complete Estate Plan Guidebook to help you understand the different parts of an estate plan and the issues you should consider before making your decisions.
Download The Complete Estate Plan Guidebook
There's no obligation to work with us. It's simply a free educational resource to help you make informed decisions about your family's future.
Once you've done your research, get a few quotes from lawyers you feel comfortable with and compare what you're actually receiving for the fee.
The cheapest Will isn't necessarily the best value.
The right estate plan is one that has been properly considered, understood, and structured around your family.