Drafting of wills - HOW MUCH???

Redpunto

Nine years ago, after our first was born we decided to make a will and after some ringing around found a solcitors willing to do it for free and they were very basic as we hardly owned anything anway. After a change of situations we decided we needed to redraft the wills. Just received a quote back from the solcitors saying as the wills are 9 years old it'd be worth drawing up new wills at 500 a piece, i.e. 1000 total but as we are exsiting clients they can do it for €750. 750, my jaw nearly fell on the floor.

So is this the norm? i havent rung around anywhere else yet to get different quotes

Reloc8

Redpunto wrote: »

Nine years ago, after our first was born we decided to make a will and after some ringing around found a solcitors willing to do it for free and they were very basic as we hardly owned anything anway. After a change of situations we decided we needed to redraft the wills. Just received a quote back from the solcitors saying as the wills are 9 years old it'd be worth drawing up new wills at 500 a piece, i.e. 1000 total but as we are exsiting clients they can do it for €750. 750, my jaw nearly fell on the floor.

So is this the norm? i havent rung around anywhere else yet to get different quotes

I'd say the best thing to do is ring around and ask. The way you would for any other job that you were looking to get done and were not planning on spending as much as the first person you asked to do it quoted.

Or offer your solicitor €500 to do them. Or ask them to do it for free again

As quotes for work vary wildly from different firms, its probably a better question to ask you how much you were hoping to get it done for - it would then be possible to say whether you were being wildly optimistic or not.

Redpunto

I thought a couple of hundred max. Its not like its a complicated will, if i kick the bucket he gets everything, if he goes i get everything and if we both go the kids get everything.:D

PCPhoto

I definately think you could get that done a lot cheaper elsewhere ..... will drop you a PM.

_JOE_

Redpunto wrote: »

I thought a couple of hundred max. Its not like its a complicated will, if i kick the bucket he gets everything, if he goes i get everything and if we both go the kids get everything.:D

I would agree with you in one respect regarding the price, (we would charge an awful lot less)...However, the construction of some wills can be difficult, especially when there are multiple trusts involved etc...

jimmmy

Redpunto wrote: »

I thought a couple of hundred max. Its not like its a complicated will, if i kick the bucket he gets everything, if he goes i get everything and if we both go the kids get everything.:D

Fifty euro is what I know someone else in similar cumstances to yourself was charged. Someone else was charged 100 euro, which is ok either. Or you can get forms online or in a good stationers and do it yourself. 1000 or 750 is a bit Irish. Shop around and do not do any more business with the fellow who charges 1000 for it, and tell your friends + family the same. The sooner the overcharging / rip off mentality can be eradicated from certain sections of Irish business the better.

lawrose

Agree €750-1,000 sounds pretty high for what you've said is a standard type will.

Did wills for young couple this week, two young kids - common requirements - to each other if one dies, to the kids in trust if both die. Charged €150 plus VAT.

The big thing to watch out for here is to ensure a trust is established and also to make sure the clients are advised in relation to issues such as Discretionary Trust Tax - one that a lot of people do not know about. (most trusts involving minor children are discretionary trusts but DTT only comes in if the parents don't want the kids getting the money until they are over 21 years - this is an oversimplification of this area, so please take full advice from your solicitor!!!!).

ADD: Really do not recommend a DIY will - especially not for a young couple with kids - just not adequate.